NVIDIA (NASDAQ:NVDA) Price Target Increased to $1,350.00 by Analysts at HSBC

NVIDIA (NASDAQ:NVDA) had its price objective increased by research analysts at HSBC from $1,050.00 to $1,350.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the computer hardware maker’s stock. HSBC’s price target points to a potential upside of 50.61% from the company’s current price.

Other research analysts also recently issued reports about the company. Needham & Company LLC increased their target price on NVIDIA from $600.00 to $850.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Wolfe Research increased their target price on NVIDIA from $630.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Piper Sandler increased their target price on NVIDIA from $850.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. DA Davidson increased their target price on NVIDIA from $410.00 to $620.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Finally, Craig Hallum increased their target price on NVIDIA from $700.00 to $850.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $951.55.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA traded up $8.90 during mid-day trading on Friday, reaching $896.37. 20,840,708 shares of the company traded hands, compared to its average volume of 50,614,844. NVIDIA has a 52 week low of $280.46 and a 52 week high of $974.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67. The firm has a market cap of $2.24 trillion, a PE ratio of 75.33, a PEG ratio of 1.27 and a beta of 1.75. The company’s 50 day moving average price is $876.84 and its 200-day moving average price is $662.62.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same period in the prior year, the company posted $0.65 EPS. The firm’s revenue for the quarter was up 265.3% compared to the same quarter last year. On average, equities analysts expect that NVIDIA will post 22.55 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 10,000 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the completion of the transaction, the director now owns 1,124,583 shares of the company’s stock, valued at $896,933,663.31. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Donald F. Robertson, Jr. sold 450 shares of NVIDIA stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $911.62, for a total transaction of $410,229.00. Following the transaction, the insider now owns 49,815 shares in the company, valued at $45,412,350.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $797.57, for a total value of $7,975,700.00. Following the completion of the sale, the director now owns 1,124,583 shares of the company’s stock, valued at $896,933,663.31. The disclosure for this sale can be found here. Insiders sold a total of 61,278 shares of company stock valued at $52,689,898 over the last 90 days. Insiders own 3.99% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Stratos Wealth Partners LTD. lifted its holdings in NVIDIA by 23.6% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 103,171 shares of the computer hardware maker’s stock worth $44,878,000 after buying an additional 19,680 shares in the last quarter. Droms Strauss Advisors Inc. MO ADV grew its position in NVIDIA by 13.1% during the 3rd quarter. Droms Strauss Advisors Inc. MO ADV now owns 562 shares of the computer hardware maker’s stock worth $244,000 after purchasing an additional 65 shares during the last quarter. Stratos Wealth Advisors LLC lifted its stake in shares of NVIDIA by 10.2% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 31,914 shares of the computer hardware maker’s stock worth $13,883,000 after acquiring an additional 2,958 shares during the period. Moody Lynn & Lieberson LLC lifted its stake in shares of NVIDIA by 7.2% in the 3rd quarter. Moody Lynn & Lieberson LLC now owns 89,053 shares of the computer hardware maker’s stock worth $38,737,000 after acquiring an additional 5,998 shares during the period. Finally, Iowa State Bank lifted its stake in shares of NVIDIA by 58.3% in the 3rd quarter. Iowa State Bank now owns 6,260 shares of the computer hardware maker’s stock worth $2,723,000 after acquiring an additional 2,305 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

About NVIDIA

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.