Bank of America Issues Positive Forecast for NVIDIA (NASDAQ:NVDA) Stock Price

Key Points

• Bank of America has raised its price target for NVIDIA (NASDAQ: NVDA) from $220 to $235, signaling a potential upside of 31.72% from the current stock price and maintaining a "buy" rating.
• NVIDIA reported a strong quarterly performance, beating EPS forecasts with $1.05 per share and generating $46.74 billion in revenue, representing a 55.6% increase year-over-year.
• Insider transactions indicated significant selling activity with CEO Jen Hsun Huang and CFO Colette Kress offloading a combined total of over $18 million in NVIDIA stock recently.

NVIDIA (NASDAQ:NVDA - Get Free Report) had its price objective increased by analysts at Bank of America from $220.00 to $235.00 in a report released on Thursday. The firm presently has a "buy" rating on the computer hardware maker's stock. Bank of America's price target would indicate a potential upside of 31.72% from the stock's current price.

A number of other research analysts have also recently issued reports on NVDA. Needham & Company LLC reiterated a "buy" rating and issued a $200.00 target price on shares of NVIDIA in a research report on Thursday. The Goldman Sachs Group started coverage on NVIDIA in a research report on Thursday, July 10th. They issued a "buy" rating and a $185.00 price objective for the company. Evercore ISI boosted their target price on NVIDIA from $190.00 to $214.00 and gave the company an "outperform" rating in a research report on Friday, August 22nd. Wells Fargo & Company lifted their price target on NVIDIA from $185.00 to $220.00 and gave the company an "overweight" rating in a research note on Monday, August 11th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $240.00 target price on shares of NVIDIA in a research note on Thursday. Four analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $203.97.

NVIDIA Stock Performance

Shares of NVDA stock traded down $3.20 during midday trading on Thursday, hitting $178.41. 82,059,885 shares of the company were exchanged, compared to its average volume of 237,892,625. The firm has a market capitalization of $4.35 trillion, a P/E ratio of 57.74, a PEG ratio of 1.59 and a beta of 2.14. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The firm's 50 day moving average price is $169.53 and its two-hundred day moving average price is $138.41. NVIDIA has a 52 week low of $86.62 and a 52 week high of $184.48.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 27th. The computer hardware maker reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.04. The firm had revenue of $46.74 billion during the quarter, compared to the consensus estimate of $45.65 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business's revenue for the quarter was up 55.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 EPS. NVIDIA has set its Q3 2026 guidance at EPS. As a group, equities research analysts anticipate that NVIDIA will post 2.77 earnings per share for the current year.

Insider Transactions at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $179.76, for a total transaction of $13,482,000.00. Following the sale, the chief executive officer directly owned 72,848,225 shares of the company's stock, valued at approximately $13,095,196,926. The trade was a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 27,640 shares of NVIDIA stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $178.06, for a total value of $4,921,578.40. Following the sale, the chief financial officer directly owned 2,956,876 shares in the company, valued at approximately $526,501,340.56. The trade was a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,912,440 shares of company stock valued at $902,886,782. 4.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NVIDIA

Several large investors have recently made changes to their positions in the business. Kingstone Capital Partners Texas LLC raised its holdings in NVIDIA by 267,959.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 382,373,765 shares of the computer hardware maker's stock worth $64,976,521,000 after acquiring an additional 382,231,120 shares during the last quarter. Norges Bank purchased a new position in NVIDIA in the 2nd quarter worth approximately $51,386,863,000. Nuveen LLC bought a new stake in NVIDIA in the 1st quarter worth approximately $15,089,414,000. Goldman Sachs Group Inc. grew its position in NVIDIA by 123.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 187,995,213 shares of the computer hardware maker's stock worth $20,374,921,000 after purchasing an additional 103,889,872 shares during the period. Finally, GAMMA Investing LLC grew its position in NVIDIA by 12,173.2% in the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock worth $5,293,039,000 after purchasing an additional 48,439,859 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Company Profile

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.

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