William Blair Reiterates “Outperform” Rating for NVIDIA (NASDAQ:NVDA)

NVIDIA (NASDAQ:NVDA)‘s stock had its “outperform” rating reaffirmed by William Blair in a report released on Thursday,RTT News reports.

Other research analysts have also issued reports about the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a research note on Wednesday. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. Citigroup raised their price target on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Morgan Stanley set a $162.00 price objective on shares of NVIDIA and gave the company an “overweight” rating in a report on Wednesday. Finally, HSBC cut their price objective on NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.51.

NVIDIA Stock Performance

Shares of NVDA opened at $117.70 on Thursday. NVIDIA has a 52 week low of $75.61 and a 52 week high of $153.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a market capitalization of $2.87 trillion, a PE ratio of 46.32, a PEG ratio of 1.76 and a beta of 1.77. The company’s 50 day moving average price is $126.92 and its 200 day moving average price is $131.02.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. Research analysts expect that NVIDIA will post 2.77 EPS for the current fiscal year.

Insider Activity at NVIDIA

In other news, Director John Dabiri sold 2,663 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the sale, the director now directly owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the sale, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 179,109 shares of company stock worth $22,117,015 in the last three months. 4.23% of the stock is owned by company insiders.

Institutional Trading of NVIDIA

Large investors have recently modified their holdings of the business. Norges Bank acquired a new position in NVIDIA in the fourth quarter valued at $43,515,504,000. International Assets Investment Management LLC lifted its holdings in shares of NVIDIA by 12,898.6% during the 3rd quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock valued at $6,836,220,000 after acquiring an additional 55,859,917 shares in the last quarter. Clear Street Derivatives LLC purchased a new stake in shares of NVIDIA during the third quarter valued at approximately $4,589,905,000. Northern Trust Corp lifted its holdings in NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after buying an additional 36,266,817 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its stake in NVIDIA by 14,641.2% during the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after purchasing an additional 34,441,082 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Company Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.