NVIDIA (NVDA) Trading Up 5.5% Following Analyst Upgrade
Shares of NVIDIA Co. (NASDAQ:NVDA) were up 5.5% during trading on Thursday after Deutsche Bank raised their price target on the stock from $150.00 to $160.00. Deutsche Bank currently has a hold rating on the stock. NVIDIA traded as high as $185.00 and last traded at $183.94. Approximately 20,564,887 shares traded hands during trading, an increase of 22% from the average daily volume of 16,819,133 shares. The stock had previously closed at $174.40.
Other analysts have also recently issued research reports about the stock. SunTrust Banks cut their target price on shares of NVIDIA to $187.00 in a research note on Tuesday, January 29th. Tigress Financial reissued a “buy” rating on shares of NVIDIA in a research note on Monday, November 26th. Barclays reissued a “buy” rating and set a $200.00 target price on shares of NVIDIA in a research note on Friday, January 18th. Benchmark restated a “buy” rating and set a $190.00 price target (down from $240.00) on shares of NVIDIA in a research report on Monday, January 28th. Finally, UBS Group upgraded shares of NVIDIA from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $190.00 to $180.00 in a research report on Tuesday, January 29th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have issued a buy rating to the company. NVIDIA presently has a consensus rating of “Buy” and a consensus price target of $207.24.
In other NVIDIA news, EVP Debora Shoquist sold 6,345 shares of the business’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $135.33, for a total value of $858,668.85. Following the transaction, the executive vice president now directly owns 177,911 shares in the company, valued at approximately $24,076,695.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.70% of the company’s stock.
The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.76 and a current ratio of 7.94. The firm has a market capitalization of $106.48 billion, a P/E ratio of 30.30, a P/E/G ratio of 4.22 and a beta of 1.89.
NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Thursday, February 14th. The computer hardware maker reported $0.80 EPS for the quarter, topping the consensus estimate of $0.53 by $0.27. NVIDIA had a net margin of 35.35% and a return on equity of 41.78%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the business posted $1.72 EPS. The business’s revenue for the quarter was down 24.3% compared to the same quarter last year. As a group, research analysts forecast that NVIDIA Co. will post 4.49 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Friday, March 1st will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Thursday, February 28th. NVIDIA’s payout ratio is currently 10.54%.
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NVIDIA Company Profile (NASDAQ:NVDA)
NVIDIA Corporation operates as a visual computing company worldwide. It operates in two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for artificial intelligence (AI) utilizing deep learning, accelerated computing, and general purpose computing; GRID, which provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.
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