NVIDIA (NASDAQ:NVDA) PT Raised to $1,350.00

NVIDIA (NASDAQ:NVDA) had its target price boosted by Jefferies Financial Group from $1,200.00 to $1,350.00 in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the computer hardware maker’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 26.80% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. TD Cowen raised their target price on NVIDIA from $1,100.00 to $1,200.00 and gave the company a “buy” rating in a research report on Thursday. Robert W. Baird raised their target price on NVIDIA from $1,050.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Monday, May 20th. Evercore ISI raised their target price on NVIDIA from $1,160.00 to $1,310.00 and gave the company an “outperform” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised their target price on NVIDIA from $850.00 to $1,000.00 and gave the company a “hold” rating in a research report on Thursday. Finally, Needham & Company LLC increased their price target on NVIDIA from $850.00 to $1,200.00 and gave the company a “buy” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,123.49.

NVIDIA Stock Performance

Shares of NVDA stock opened at $1,064.69 on Thursday. The company has a market capitalization of $2.62 trillion, a P/E ratio of 89.17, a P/E/G ratio of 1.45 and a beta of 1.75. The business’s 50 day moving average is $893.19 and its two-hundred day moving average is $702.95. The company has a current ratio of 3.53, a quick ratio of 3.67 and a debt-to-equity ratio of 0.17. NVIDIA has a 12-month low of $366.35 and a 12-month high of $1,064.75.

NVIDIA shares are set to split before the market opens on Monday, June 10th. The 10-1 split was announced on Monday, June 10th. The newly minted shares will be distributed to shareholders after the closing bell on Monday, June 10th.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.14 by $0.98. The company had revenue of $26.04 billion for the quarter, compared to the consensus estimate of $24.59 billion. NVIDIA had a return on equity of 110.60% and a net margin of 53.40%. NVIDIA’s revenue for the quarter was up 262.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 earnings per share. Analysts expect that NVIDIA will post 23.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 450 shares of NVIDIA stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $911.62, for a total transaction of $410,229.00. Following the completion of the sale, the insider now directly owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Mark A. Stevens sold 22,700 shares of the business’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the sale, the director now directly owns 1,052,133 shares of the company’s stock, valued at approximately $925,845,476.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 450 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the sale, the insider now directly owns 49,815 shares of the company’s stock, valued at $45,412,350.30. The disclosure for this sale can be found here. Insiders sold 51,278 shares of company stock valued at $44,714,198 in the last ninety days. Insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several institutional investors have recently added to or reduced their stakes in the stock. Cetera Advisor Networks LLC increased its position in NVIDIA by 8.3% in the 1st quarter. Cetera Advisor Networks LLC now owns 339,828 shares of the computer hardware maker’s stock valued at $307,055,000 after acquiring an additional 25,930 shares during the period. Cetera Advisors LLC increased its position in NVIDIA by 107.2% during the 1st quarter. Cetera Advisors LLC now owns 226,867 shares of the computer hardware maker’s stock worth $204,988,000 after purchasing an additional 117,384 shares during the period. Cetera Investment Advisers increased its position in NVIDIA by 193.7% during the 1st quarter. Cetera Investment Advisers now owns 680,591 shares of the computer hardware maker’s stock worth $614,955,000 after purchasing an additional 448,841 shares during the period. Invst LLC increased its position in NVIDIA by 67.6% during the 1st quarter. Invst LLC now owns 5,032 shares of the computer hardware maker’s stock worth $4,547,000 after purchasing an additional 2,029 shares during the period. Finally, Dodds Wealth LLC increased its position in NVIDIA by 10.7% during the 1st quarter. Dodds Wealth LLC now owns 953 shares of the computer hardware maker’s stock worth $861,000 after purchasing an additional 92 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

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.