Argus Increases NVIDIA (NVDA) Price Target to $280.00

NVIDIA (NASDAQ:NVDA) had its price objective increased by analysts at Argus from $250.00 to $280.00 in a research note issued to investors on Thursday. The brokerage currently has a “buy” rating on the computer hardware maker’s stock. Argus’ target price would suggest a potential upside of 20.19% from the stock’s previous close. The analysts noted that the move was a valuation call.

NVDA has been the subject of several other research reports. Bank of America restated a “buy” rating and set a $275.00 price target (up previously from $251.00) on shares of NVIDIA in a research note on Friday, January 19th. B. Riley restated a “buy” rating and set a $270.00 price target on shares of NVIDIA in a research note on Monday, January 8th. Vetr lowered shares of NVIDIA from a “strong-buy” rating to a “buy” rating and set a $275.09 price target for the company. in a research note on Monday, March 12th. Zacks Investment Research lowered shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 15th. Finally, Deutsche Bank raised their price target on shares of NVIDIA from $205.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, February 9th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. NVIDIA currently has a consensus rating of “Buy” and an average target price of $215.27.

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Shares of NVIDIA stock opened at $232.97 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 8.03 and a quick ratio of 7.34. The company has a market cap of $146,319.25, a PE ratio of 48.33, a price-to-earnings-growth ratio of 3.79 and a beta of 1.43. NVIDIA has a one year low of $95.49 and a one year high of $254.50.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, February 8th. The computer hardware maker reported $1.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.56. The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.67 billion. NVIDIA had a net margin of 31.36% and a return on equity of 45.02%. The company’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same quarter last year, the business posted $1.13 EPS. equities research analysts forecast that NVIDIA will post 6.22 earnings per share for the current year.

In other news, Director James C. Gaither sold 40,359 shares of NVIDIA stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $245.67, for a total transaction of $9,914,995.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark L. Perry sold 17,307 shares of NVIDIA stock in a transaction on Monday, February 12th. The stock was sold at an average price of $227.93, for a total transaction of $3,944,784.51. Following the sale, the director now directly owns 30,762 shares of the company’s stock, valued at $7,011,582.66. The disclosure for this sale can be found here. Over the last three months, insiders sold 57,769 shares of company stock valued at $13,883,276. Insiders own 5.82% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of NVDA. Country Trust Bank lifted its holdings in shares of NVIDIA by 490.0% during the 4th quarter. Country Trust Bank now owns 590 shares of the computer hardware maker’s stock worth $114,000 after acquiring an additional 490 shares during the last quarter. Global Trust Asset Management LLC purchased a new position in NVIDIA in the 4th quarter worth $116,000. Clearbridge Investments LLC raised its position in NVIDIA by 100.0% in the 4th quarter. Clearbridge Investments LLC now owns 600 shares of the computer hardware maker’s stock worth $116,000 after purchasing an additional 300 shares during the period. North Star Investment Management Corp. raised its position in NVIDIA by 67.3% in the 4th quarter. North Star Investment Management Corp. now owns 634 shares of the computer hardware maker’s stock worth $123,000 after purchasing an additional 255 shares during the period. Finally, Crewe Advisors LLC purchased a new position in NVIDIA in the 4th quarter worth $148,000. 66.92% of the stock is owned by institutional investors.

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NVIDIA Company Profile

Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.

Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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