NVIDIA (NASDAQ:NVDA) Given New $346.00 Price Target at Truist Financial

Key Points

• Truist Financial raised NVIDIA’s price target to $346 from $307 and maintained a “buy” rating, implying approximately 65% upside. The broader analyst consensus is “Moderate Buy,” with an average target of $317.44.
• NVIDIA reported a strong quarter, with revenue rising 105.9% year over year to $96.22 billion and EPS of $2.22, exceeding estimates of $92.27 billion and $2.09, respectively.
• The company authorized an $80 billion share buyback, though investors continue to monitor lower projected gross margins, supply constraints, the exclusion of China compute revenue from guidance, and growing custom-chip competition.

NVIDIA (NASDAQ:NVDA - Get Free Report) had its price objective boosted by stock analysts at Truist Financial from $307.00 to $346.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the computer hardware maker's stock. Truist Financial's price target points to a potential upside of 65.03% from the stock's current price.

Several other equities research analysts have also commented on NVDA. BNP Paribas Exane upped their price target on shares of NVIDIA from $270.00 to $285.00 and gave the company an "outperform" rating in a research report on Thursday, May 21st. UBS Group reiterated a "buy" rating on shares of NVIDIA in a research report on Friday, August 14th. Rosenblatt Securities reaffirmed a "buy" rating and set a $325.00 price objective on shares of NVIDIA in a research report on Monday. China Renaissance began coverage on shares of NVIDIA in a report on Friday, June 5th. They issued a "buy" rating and a $319.00 target price for the company. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $300.00 price target (up from $275.00) on shares of NVIDIA in a research report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, forty-nine have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $317.44.

NVIDIA Price Performance

NVDA opened at $209.66 on Thursday. The company's 50-day simple moving average is $207.61 and its two-hundred day simple moving average is $200.35. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.85 and a current ratio of 3.44. The stock has a market capitalization of $5.07 trillion, a P/E ratio of 32.11, a P/E/G ratio of 0.42 and a beta of 2.23. NVIDIA has a 52-week low of $164.07 and a 52-week high of $236.54.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.13. NVIDIA had a net margin of 62.97% and a return on equity of 96.94%. The firm had revenue of $96.22 billion during the quarter, compared to analysts' expectations of $92.27 billion. During the same period in the previous year, the company earned $1.05 earnings per share. The firm's quarterly revenue was up 105.9% on a year-over-year basis. As a group, analysts predict that NVIDIA will post 8.8 EPS for the current year.

NVIDIA announced that its board has initiated a share buyback plan on Wednesday, May 20th that allows the company to buyback $80.00 billion in outstanding shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, Director Stephen C. Neal sold 15,500 shares of the company's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $215.73, for a total transaction of $3,343,815.00. Following the sale, the director directly owned 116,135 shares in the company, valued at approximately $25,053,803.55. This represents a 11.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 885,000 shares of the company's stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $210.17, for a total value of $186,000,450.00. Following the sale, the director owned 5,207,271 shares in the company, valued at approximately $1,094,412,146.07. This trade represents a 14.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,900,500 shares of company stock worth $410,449,265 over the last 90 days. Corporate insiders own 3.94% of the company's stock.

Hedge Funds Weigh In On NVIDIA

A number of large investors have recently bought and sold shares of NVDA. State Street Corp increased its position in shares of NVIDIA by 1.2% during the fourth quarter. State Street Corp now owns 991,480,489 shares of the computer hardware maker's stock worth $184,911,111,000 after acquiring an additional 11,451,386 shares during the period. Geode Capital Management LLC grew its stake in NVIDIA by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 588,803,093 shares of the computer hardware maker's stock worth $109,446,217,000 after purchasing an additional 3,383,441 shares in the last quarter. Norges Bank bought a new position in shares of NVIDIA during the 4th quarter worth $62,244,133,000. Bank of America Corp DE grew its position in shares of NVIDIA by 2.2% during the 2nd quarter. Bank of America Corp DE now owns 195,366,864 shares of the computer hardware maker's stock worth $39,090,956,000 after buying an additional 4,165,875 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of NVIDIA by 1.5% during the third quarter. Legal & General Group Plc now owns 181,203,035 shares of the computer hardware maker's stock valued at $33,808,862,000 after buying an additional 2,609,560 shares during the period. Hedge funds and other institutional investors own 65.27% of the company's stock.

Key Headlines Impacting NVIDIA

Here are the key news stories impacting NVIDIA this week:

• Positive Sentiment: Record results and stronger outlook: Fiscal Q2 revenue reached $96.2 billion, up 106% year over year and above the roughly $92.2 billion consensus. Adjusted EPS was $2.22 versus $2.09 expected, while Data Center revenue rose 117% to $89.0 billion. NVIDIA forecast fiscal Q3 revenue of approximately $108 billion, excluding China compute revenue. NVIDIA second-quarter financial results
• Positive Sentiment: AI demand remains broad and accelerating: CEO Jensen Huang said the AI infrastructure buildout is operating at full speed, with the Vera Rubin platform ramping into production. NVIDIA also expanded its AWS partnership, including an additional 2 million GPUs, supporting confidence in hyperscaler demand. AWS and NVIDIA GPU partnership
• Positive Sentiment: Analyst support increased: Goldman Sachs and Citigroup raised their price targets, while Raymond James lifted its target to $352 and maintained a strong-buy rating. The upgrades indicate that analysts view the earnings beat and long-term growth forecast as more important than near-term valuation concerns. Wall Street commentary on NVIDIA
• Neutral Sentiment: Potential Hugging Face acquisition: Reports say NVIDIA has agreed, or is close, to acquiring open-source AI platform Hugging Face for about $12.9 billion. The deal could strengthen NVIDIA’s software and developer ecosystem, but reports conflict on whether a binding agreement has been signed.
• Negative Sentiment: Margins and competitive risks remain: NVIDIA expects fiscal Q3 gross margin of about 74%, down from 75% in Q2, while operating expenses continue to rise. Investors are also monitoring custom chips from OpenAI and Microsoft that could reduce NVIDIA’s share of inference workloads over time. Custom AI chip competition
• Negative Sentiment: Execution and financing concerns: Supply constraints, the absence of China compute revenue in guidance, and scrutiny of NVIDIA’s investments and customer-financing relationships could add volatility despite the strong fundamentals.

NVIDIA Company Profile

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company's product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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