NVIDIA (NASDAQ:NVDA) Given “Overweight” Rating at Cantor Fitzgerald

NVIDIA (NASDAQ:NVDA)‘s stock had its “overweight” rating restated by equities researchers at Cantor Fitzgerald in a report issued on Thursday,Benzinga reports. They presently have a $240.00 target price on the computer hardware maker’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 32.16% from the company’s previous close.

Several other research analysts also recently weighed in on the company. Rosenblatt Securities upped their price target on NVIDIA from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday. Benchmark increased their target price on NVIDIA from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday. Wedbush reiterated an “outperform” rating and set a $210.00 target price on shares of NVIDIA in a research report on Thursday. Jefferies Financial Group increased their target price on NVIDIA from $185.00 to $200.00 in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company increased their target price on NVIDIA from $185.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, August 11th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $199.11.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $181.60 on Thursday. The business has a fifty day simple moving average of $169.53 and a two-hundred day simple moving average of $138.41. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $4.43 trillion, a P/E ratio of 58.58, a P/E/G ratio of 1.59 and a beta of 2.14. NVIDIA has a 12 month low of $86.62 and a 12 month high of $184.48.

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

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $179.76, for a total transaction of $13,482,000.00. Following the completion of the sale, the chief executive officer directly owned 72,848,225 shares in the company, valued at approximately $13,095,196,926. The trade was a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 27,640 shares of the business’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $178.06, for a total value of $4,921,578.40. Following the transaction, the chief financial officer directly owned 2,956,876 shares in the company, valued at $526,501,340.56. This trade represents a 0.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,912,440 shares of company stock valued at $902,886,782 over the last 90 days. Company insiders own 4.17% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Large investors have recently bought and sold shares of the stock. Harbor Asset Planning Inc. purchased a new stake in NVIDIA during the 2nd quarter worth about $28,000. Winnow Wealth LLC purchased a new position in shares of NVIDIA in the 2nd quarter valued at about $32,000. Longfellow Investment Management Co. LLC increased its holdings in shares of NVIDIA by 47.9% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock valued at $33,000 after acquiring an additional 67 shares during the last quarter. Spurstone Advisory Services LLC purchased a new position in shares of NVIDIA in the 2nd quarter valued at about $40,000. Finally, Kathleen S. Wright Associates Inc. increased its holdings in shares of NVIDIA by 169.3% in the 1st quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker’s stock valued at $44,000 after acquiring an additional 254 shares during the last quarter. Hedge funds and other institutional investors 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.