NVIDIA’s (NVDA) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

NVIDIA (NASDAQ:NVDA)‘s stock had its “overweight” rating reissued by research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $200.00 target price on the computer hardware maker’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 70.75% from the stock’s previous close.

Other analysts have also issued reports about the company. Wells Fargo & Company raised their price target on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. TD Cowen raised their target price on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Citigroup upped their price target on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. KeyCorp reiterated an “overweight” rating on shares of NVIDIA in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $171.51.

NVIDIA Stock Performance

Shares of NVIDIA stock traded up $1.70 on Wednesday, reaching $117.13. 44,183,684 shares of the stock were exchanged, compared to its average volume of 318,584,866. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA has a 1-year low of $75.61 and a 1-year high of $153.13. The firm has a market capitalization of $2.86 trillion, a PE ratio of 46.21, a PEG ratio of 1.76 and a beta of 1.77. The business has a fifty day moving average price of $128.17 and a two-hundred day moving average price of $131.21.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. As a group, research analysts anticipate that NVIDIA will post 2.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the sale, the director now owns 17,279 shares in the company, valued at $1,900,690. The trade was a 13.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,449 shares of company stock valued at $11,960,727 over the last quarter. Insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently made changes to their positions in NVDA. Palisade Asset Management LLC lifted its stake in NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after acquiring an additional 75 shares in the last quarter. SMART Wealth LLC boosted its holdings in NVIDIA by 289.5% during the fourth quarter. SMART Wealth LLC now owns 72,311 shares of the computer hardware maker’s stock worth $9,711,000 after purchasing an additional 53,747 shares during the last quarter. Blue Square Asset Management LLC grew its position in NVIDIA by 26.7% in the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after purchasing an additional 10,136 shares in the last quarter. Narwhal Capital Management increased its stake in NVIDIA by 5.1% in the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock valued at $66,267,000 after buying an additional 26,373 shares during the last quarter. Finally, Tybourne Capital Management HK Ltd. lifted its position in shares of NVIDIA by 46.7% during the 3rd quarter. Tybourne Capital Management HK Ltd. now owns 16,826 shares of the computer hardware maker’s stock worth $2,043,000 after buying an additional 5,360 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

About NVIDIA

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.