Mizuho Forecasts Strong Price Appreciation for NVIDIA (NASDAQ:NVDA) Stock

NVIDIA (NASDAQ:NVDA) had its target price boosted by research analysts at Mizuho from $192.00 to $205.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the computer hardware maker’s stock. Mizuho’s target price would indicate a potential upside of 13.60% from the company’s current price.

Several other equities research analysts also recently weighed in on NVDA. Truist Financial upped their price objective on shares of NVIDIA from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Summit Insights raised shares of NVIDIA from a “hold” rating to a “buy” rating in a report on Thursday, May 29th. DA Davidson upped their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, May 29th. Citigroup upped their price objective on shares of NVIDIA from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, July 7th. Finally, TD Cowen upped their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $186.33.

NVIDIA Stock Down 0.9%

NVIDIA stock opened at $180.45 on Thursday. The company has a 50-day simple moving average of $163.96 and a 200-day simple moving average of $135.36. The firm has a market capitalization of $4.40 trillion, a P/E ratio of 58.21, a P/E/G ratio of 1.60 and a beta of 2.14. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. NVIDIA has a one year low of $86.62 and a one year high of $184.48.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.61 EPS. As a group, equities analysts expect that NVIDIA will post 2.77 earnings per share for the current year.

Insider Transactions at NVIDIA

In related news, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. This represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the transaction, the director owned 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,837,440 shares of company stock worth $889,404,782. Corporate insiders own 4.17% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC lifted its position in shares of NVIDIA by 267,959.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 382,373,765 shares of the computer hardware maker’s stock worth $64,976,521,000 after purchasing an additional 382,231,120 shares during the last quarter. Norges Bank bought a new stake in shares of NVIDIA in the second quarter valued at approximately $51,386,863,000. Nuveen LLC bought a new stake in shares of NVIDIA in the first quarter valued at approximately $15,089,414,000. Goldman Sachs Group Inc. boosted its position in shares of NVIDIA by 123.5% in the first quarter. Goldman Sachs Group Inc. now owns 187,995,213 shares of the computer hardware maker’s stock valued at $20,374,921,000 after acquiring an additional 103,889,872 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of NVIDIA by 12,173.2% in the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock valued at $5,293,039,000 after acquiring an additional 48,439,859 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.