Morgan Stanley Initiates Coverage on NVIDIA (NASDAQ:NVDA)

Research analysts at Morgan Stanley started coverage on shares of NVIDIA (NASDAQ:NVDAGet Rating) in a report issued on Tuesday, The Fly reports. The firm set an “equal weight” rating on the computer hardware maker’s stock.

A number of other research analysts have also recently commented on NVDA. Summit Insights cut shares of NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, February 17th. Cowen reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of NVIDIA in a research note on Tuesday, March 15th. Truist Financial lowered their price objective on shares of NVIDIA from $347.00 to $298.00 in a research note on Friday, April 8th. StockNews.com assumed coverage on shares of NVIDIA in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Tigress Financial upped their price objective on shares of NVIDIA from $400.00 to $410.00 and gave the stock a “buy” rating in a research note on Tuesday, March 29th. Eight research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $328.19.

NVDA stock opened at $195.33 on Tuesday. The firm’s fifty day simple moving average is $234.54 and its two-hundred day simple moving average is $260.97. The company has a quick ratio of 6.05, a current ratio of 6.65 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $568.95 billion, a price-to-earnings ratio of 50.77, a price-to-earnings-growth ratio of 2.35 and a beta of 1.59. NVIDIA has a twelve month low of $134.59 and a twelve month high of $346.47.

NVIDIA (NASDAQ:NVDAGet Rating) last posted its quarterly earnings results on Wednesday, February 16th. The computer hardware maker reported $1.14 EPS for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.13. The firm had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.43 billion. NVIDIA had a net margin of 36.24% and a return on equity of 42.99%. The business’s revenue for the quarter was up 52.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 earnings per share. As a group, equities research analysts expect that NVIDIA will post 4.68 EPS for the current year.

In other NVIDIA news, Director Mark L. Perry sold 16,716 shares of the firm’s stock in a transaction on Friday, March 18th. The stock was sold at an average price of $263.80, for a total value of $4,409,680.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 100,000 shares of the firm’s stock in a transaction on Monday, March 28th. The shares were sold at an average price of $274.06, for a total value of $27,406,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 409,056 shares of company stock worth $101,135,342 in the last ninety days. Corporate insiders own 4.23% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of NVDA. Disciplined Investments LLC acquired a new stake in shares of NVIDIA during the 4th quarter worth about $25,000. Rather & Kittrell Inc. acquired a new stake in shares of NVIDIA during the 4th quarter worth about $26,000. Emerson Wealth LLC acquired a new stake in shares of NVIDIA during the 1st quarter worth about $27,000. Advanced Research Investment Solutions LLC acquired a new stake in shares of NVIDIA during the 4th quarter worth about $29,000. Finally, Claremont Financial Group Inc. acquired a new stake in shares of NVIDIA during the 4th quarter worth about $29,000. Institutional investors and hedge funds own 55.19% of the company’s stock.

NVIDIA Company Profile (Get Rating)

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

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