NVIDIA (NASDAQ:NVDA) Receives “Buy” Rating from Benchmark

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating restated by equities research analysts at Benchmark in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $190.00 price target on the computer hardware maker’s stock. Benchmark’s target price indicates a potential upside of 64.60% from the stock’s previous close.

Several other equities research analysts also recently commented on NVDA. Oppenheimer reiterated an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Evercore ISI lifted their price target on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Wells Fargo & Company boosted their price target on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Finally, Tigress Financial reiterated a “buy” rating on shares of NVIDIA in a research report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $171.51.

NVIDIA Trading Down 3.4 %

Shares of NASDAQ:NVDA opened at $115.43 on Wednesday. The business’s 50-day moving average is $128.17 and its 200 day moving average is $131.21. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA has a 1 year low of $75.61 and a 1 year high of $153.13. The firm has a market capitalization of $2.82 trillion, a P/E ratio of 45.43, a P/E/G ratio of 1.76 and a beta of 1.77.

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

Insider Activity at NVIDIA

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

Hedge Funds Weigh In On NVIDIA

Institutional investors have recently added to or reduced their stakes in the stock. AMF Tjanstepension AB increased its holdings in shares of NVIDIA by 2.2% during the 3rd quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock worth $976,348,000 after buying an additional 169,445 shares during the last quarter. Wealth Group Ltd. grew its position in NVIDIA by 5.0% in the third quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock worth $680,000 after acquiring an additional 265 shares during the period. SOA Wealth Advisors LLC. increased its stake in NVIDIA by 0.3% during the third quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock worth $14,650,000 after acquiring an additional 350 shares during the last quarter. Swedbank AB raised its position in NVIDIA by 4.8% in the third quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock valued at $4,965,526,000 after purchasing an additional 1,868,358 shares during the period. Finally, Cascade Investment Group Inc. grew its holdings in shares of NVIDIA by 57.6% during the 3rd quarter. Cascade Investment Group Inc. now owns 7,873 shares of the computer hardware maker’s stock worth $956,000 after purchasing an additional 2,878 shares during the period. 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.