NVIDIA Corporation (NVDA) Stock Rating Reaffirmed by Royal Bank Of Canada
NVIDIA Corporation (NASDAQ:NVDA)‘s stock had its “outperform” rating reaffirmed by research analysts at Royal Bank Of Canada in a report released on Friday. They currently have a $250.00 price objective on the computer hardware maker’s stock, up from their prior price objective of $240.00. Royal Bank Of Canada’s target price would indicate a potential upside of 18.28% from the stock’s current price.
A number of other research firms have also recently issued reports on NVDA. Mizuho restated a “buy” rating and set a $180.00 price target (up from $170.00) on shares of NVIDIA Corporation in a report on Friday, August 11th. Susquehanna Bancshares Inc restated a “neutral” rating and set a $140.00 price target on shares of NVIDIA Corporation in a report on Wednesday, August 16th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of NVIDIA Corporation in a report on Sunday, November 5th. Vetr cut NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $172.54 price target on the stock. in a report on Thursday, August 31st. Finally, Canaccord Genuity restated a “buy” rating and set a $190.00 price target (up from $180.00) on shares of NVIDIA Corporation in a report on Thursday, August 10th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. NVIDIA Corporation currently has a consensus rating of “Buy” and a consensus price target of $186.85.
NVIDIA Corporation (NASDAQ NVDA) opened at $211.36 on Friday. The stock has a market capitalization of $126,816.00, a P/E ratio of 52.06, a price-to-earnings-growth ratio of 4.57 and a beta of 1.23. NVIDIA Corporation has a twelve month low of $84.77 and a twelve month high of $218.67. The company has a current ratio of 8.26, a quick ratio of 7.42 and a debt-to-equity ratio of 0.31.
NVIDIA Corporation (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.39. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.36 billion. NVIDIA Corporation had a return on equity of 42.71% and a net margin of 28.78%. The company’s revenue for the quarter was up 31.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 EPS. sell-side analysts anticipate that NVIDIA Corporation will post 4.13 earnings per share for the current fiscal year.
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In related news, insider Michael Byron sold 409 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $171.01, for a total transaction of $69,943.09. Following the transaction, the insider now directly owns 136,199 shares of the company’s stock, valued at approximately $23,291,390.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 50,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $189.62, for a total value of $9,481,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 451,503 shares of company stock worth $81,997,895. Insiders own 5.82% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cibc World Markets Corp raised its holdings in shares of NVIDIA Corporation by 12.1% during the 2nd quarter. Cibc World Markets Corp now owns 128,316 shares of the computer hardware maker’s stock valued at $18,549,000 after buying an additional 13,802 shares in the last quarter. Meiji Yasuda Life Insurance Co raised its holdings in shares of NVIDIA Corporation by 9.9% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 11,070 shares of the computer hardware maker’s stock valued at $1,600,000 after buying an additional 1,000 shares in the last quarter. RB Capital Management LLC purchased a new position in shares of NVIDIA Corporation during the 2nd quarter valued at about $272,000. Oppenheimer Asset Management Inc. raised its holdings in shares of NVIDIA Corporation by 17.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,786 shares of the computer hardware maker’s stock valued at $2,715,000 after buying an additional 2,836 shares in the last quarter. Finally, D. Scott Neal Inc. purchased a new position in shares of NVIDIA Corporation during the 2nd quarter valued at about $258,000. 65.40% of the stock is currently owned by institutional investors.
NVIDIA Corporation Company Profile
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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