NVIDIA (NASDAQ:NVDA) Price Target Raised to $390.00 at Deutsche Bank Aktiengesellschaft

Posted by Kyle Jackson on May 26th, 2023

NVIDIA (NASDAQ:NVDA – Get Rating) had its price objective hoisted by Deutsche Bank Aktiengesellschaft from $220.00 to $390.00 in a report published on Thursday morning, The Fly reports.

A number of other research firms also recently commented on NVDA. Evercore ISI boosted their price target on shares of NVIDIA from $320.00 to $500.00 in a research report on Thursday. Westpark Capital started coverage on shares of NVIDIA in a report on Wednesday, March 22nd. They issued a hold rating on the stock. Needham & Company LLC boosted their target price on shares of NVIDIA from $300.00 to $460.00 in a report on Thursday. Citigroup boosted their target price on shares of NVIDIA from $363.00 to $420.00 in a report on Thursday. Finally, Raymond James restated a strong-buy rating and set a $290.00 price target on shares of NVIDIA in a report on Thursday, March 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $375.13.

NVIDIA Trading Up 24.4 %

NASDAQ NVDA opened at $379.80 on Thursday. NVIDIA has a one year low of $108.13 and a one year high of $394.80. The company has a 50-day simple moving average of $280.52 and a 200-day simple moving average of $218.29. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.73 and a current ratio of 3.52. The firm has a market capitalization of $939.29 billion, a PE ratio of 197.81, a price-to-earnings-growth ratio of 5.31 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA – Get Rating) last posted its earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.17. The firm had revenue of $7.19 billion during the quarter, compared to analyst estimates of $6.52 billion. NVIDIA had a net margin of 18.52% and a return on equity of 24.18%. NVIDIA’s revenue was down 13.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.18 EPS. On average, equities analysts forecast that NVIDIA will post 3.28 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Debora Shoquist sold 23,084 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the completion of the transaction, the executive vice president now directly owns 139,860 shares in the company, valued at approximately $42,657,300. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Colette Kress sold 6,000 shares of the company’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $229.29, for a total transaction of $1,375,740.00. Following the completion of the transaction, the chief financial officer now directly owns 561,401 shares in the company, valued at approximately $128,723,635.29. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Debora Shoquist sold 23,084 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the transaction, the executive vice president now owns 139,860 shares of the company’s stock, valued at $42,657,300. The disclosure for this sale can be found here. In the last three months, insiders sold 54,084 shares of company stock valued at $14,516,510. Company insiders own 3.99% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several large investors have recently bought and sold shares of NVDA. Vanguard Group Inc. raised its stake in shares of NVIDIA by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 203,747,246 shares of the computer hardware maker’s stock valued at $24,732,878,000 after buying an additional 2,326,387 shares in the last quarter. State Street Corp raised its stake in shares of NVIDIA by 0.9% in the 3rd quarter. State Street Corp now owns 98,751,264 shares of the computer hardware maker’s stock valued at $11,987,416,000 after buying an additional 908,481 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of NVIDIA by 9.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock valued at $8,323,694,000 after buying an additional 5,043,685 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of NVIDIA by 0.6% in the 1st quarter. Geode Capital Management LLC now owns 46,056,013 shares of the computer hardware maker’s stock valued at $12,763,663,000 after buying an additional 267,061 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of NVIDIA by 20.2% in the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after buying an additional 4,621,002 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

About NVIDIA

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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, 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.