Tigress Financial Upgrades NVIDIA (NASDAQ:NVDA) to “Strong-Buy”

NVIDIA (NASDAQ:NVDA) was upgraded by research analysts at Tigress Financial from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a $220.00 target price on the computer hardware maker’s stock, up from their previous target price of $170.00. Tigress Financial’s target price points to a potential upside of 81.56% from the company’s current price.

Several other equities research analysts have also recently weighed in on the stock. Phillip Securities restated an “accumulate” rating and issued a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Citigroup lifted their price target on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Susquehanna upped their price objective on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. lifted their target price on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, Morgan Stanley increased their price target on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $166.42.

NVIDIA Stock Performance

Shares of NASDAQ NVDA traded up $2.75 during trading on Tuesday, hitting $121.17. The company had a trading volume of 225,290,312 shares, compared to its average volume of 254,323,469. NVIDIA has a 12 month low of $60.70 and a 12 month high of $153.13. The firm has a market capitalization of $2.97 trillion, a P/E ratio of 47.78, a price-to-earnings-growth ratio of 2.65 and a beta of 1.64. The stock has a 50 day simple moving average of $138.29 and a 200 day simple moving average of $129.45. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s revenue was up 93.6% on a year-over-year basis. During the same period last year, the firm earned $0.38 EPS. As a group, analysts anticipate that NVIDIA will post 2.78 earnings per share for the current year.

Insider Buying and Selling at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the sale, the insider now owns 480,899 shares in the company, valued at $65,056,016.72. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock valued at $146,506,958 in the last ninety days. Insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quest Partners LLC acquired a new position in NVIDIA during the second quarter worth $27,000. Christopher J. Hasenberg Inc purchased a new stake in shares of NVIDIA in the 3rd quarter worth about $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in NVIDIA in the 2nd quarter valued at about $31,000. Legend Financial Advisors Inc. purchased a new position in NVIDIA during the 4th quarter valued at about $34,000. Finally, West Financial Advisors LLC acquired a new position in NVIDIA during the third quarter worth about $36,000. 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.