NVIDIA (NASDAQ:NVDA) Rating Reiterated by Piper Sandler

NVIDIA (NASDAQ:NVDA)‘s stock had its “overweight” rating reiterated by equities research analysts at Piper Sandler in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $620.00 price target on the computer hardware maker’s stock. Piper Sandler’s price target would suggest a potential upside of 25.77% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Benchmark lifted their target price on NVIDIA from $475.00 to $625.00 and gave the stock a “buy” rating in a research note on Thursday, August 24th. Phillip Securities upgraded NVIDIA from an “accumulate” rating to a “buy” rating in a research note on Monday, August 28th. Raymond James lifted their target price on NVIDIA from $500.00 to $600.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 24th. The Goldman Sachs Group upgraded NVIDIA from a “buy” rating to a “conviction-buy” rating in a research note on Monday, October 2nd. Finally, Oppenheimer lifted their target price on NVIDIA from $500.00 to $650.00 and gave the stock an “outperform” rating in a research note on Thursday, August 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $571.49.

NVIDIA Stock Down 0.4 %

NVDA stock opened at $492.98 on Friday. The company has a quick ratio of 2.37, a current ratio of 2.79 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average price of $444.17 and a two-hundred day moving average price of $423.14. The company has a market cap of $1.22 trillion, a price-to-earnings ratio of 119.08, a P/E/G ratio of 3.80 and a beta of 1.69. NVIDIA has a twelve month low of $138.84 and a twelve month high of $502.66.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.62. The firm had revenue of $13.51 billion during the quarter, compared to the consensus estimate of $11.19 billion. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. The business’s revenue was up 101.5% compared to the same quarter last year. During the same period last year, the company earned $0.32 earnings per share. Analysts anticipate that NVIDIA will post 9.66 EPS for the current fiscal year.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 21,500 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $468.08, for a total value of $10,063,720.00. Following the sale, the director now owns 1,030,786 shares in the company, valued at approximately $482,490,310.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Jen Hsun Huang sold 29,688 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $454.01, for a total transaction of $13,478,648.88. Following the sale, the chief executive officer now owns 7,918,875 shares in the company, valued at approximately $3,595,248,438.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 21,500 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $468.08, for a total value of $10,063,720.00. Following the sale, the director now owns 1,030,786 shares in the company, valued at approximately $482,490,310.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 145,232 shares of company stock worth $67,606,089. Insiders own 3.99% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Several institutional investors and hedge funds have recently made changes to their positions in the business. Von Berge Wealth Management Group LLC raised its stake in NVIDIA by 2.6% during the 2nd quarter. Von Berge Wealth Management Group LLC now owns 930 shares of the computer hardware maker’s stock worth $393,000 after buying an additional 24 shares during the period. DBK Financial Counsel LLC acquired a new position in NVIDIA during the 2nd quarter worth approximately $265,000. IFM Investors Pty Ltd raised its stake in NVIDIA by 4.9% during the 2nd quarter. IFM Investors Pty Ltd now owns 488,552 shares of the computer hardware maker’s stock worth $206,667,000 after buying an additional 22,809 shares during the period. Mayport LLC raised its stake in NVIDIA by 69.6% during the 2nd quarter. Mayport LLC now owns 1,833 shares of the computer hardware maker’s stock worth $775,000 after buying an additional 752 shares during the period. Finally, Heartwood Wealth Advisors LLC acquired a new position in NVIDIA during the 2nd quarter worth approximately $489,000. Institutional investors own 64.79% of the company’s stock.

NVIDIA Company Profile

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.