Barclays Forecasts Strong Price Appreciation for NVIDIA (NASDAQ:NVDA) Stock

NVIDIA (NASDAQ:NVDA - Get Free Report) had its price target boosted by research analysts at Barclays from $170.00 to $200.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the computer hardware maker's stock. Barclays's price objective would indicate a potential upside of 38.23% from the stock's current price.

Several other analysts have also recently issued reports on NVDA. Bank of America raised their price target on NVIDIA from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Morgan Stanley reaffirmed an "overweight" rating and set a $170.00 target price (up previously from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Stifel Nicolaus set a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. William Blair restated an "outperform" rating on shares of NVIDIA in a report on Thursday, March 20th. Finally, Raymond James upped their target price on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-five have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $173.05.

NVIDIA Stock Up 1.9%

NVDA opened at $144.69 on Tuesday. The business's fifty day simple moving average is $123.74 and its 200 day simple moving average is $126.36. NVIDIA has a 52 week low of $86.62 and a 52 week high of $153.13. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market cap of $3.53 trillion, a PE ratio of 56.94, a P/E/G ratio of 1.76 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA's revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 EPS. As a group, research analysts expect that NVIDIA will post 2.77 earnings per share for the current fiscal year.

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the transaction, the director now owns 26,671,360 shares of the company's stock, valued at $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the transaction, the insider now owns 479,428 shares of the company's stock, valued at approximately $55,997,190.40. The trade was a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,560,845 shares of company stock valued at $360,351,849 in the last 90 days. Company insiders own 4.17% of the company's stock.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently bought and sold shares of NVDA. Norges Bank purchased a new stake in shares of NVIDIA during the 4th quarter valued at about $43,515,504,000. Nuveen LLC bought a new position in shares of NVIDIA in the first quarter worth about $15,089,414,000. Goldman Sachs Group Inc. increased its position in shares of NVIDIA by 123.5% during the first quarter. Goldman Sachs Group Inc. now owns 187,995,213 shares of the computer hardware maker's stock worth $20,374,921,000 after acquiring an additional 103,889,872 shares during the period. GAMMA Investing LLC increased its holdings in NVIDIA by 12,173.2% during 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. Finally, Northern Trust Corp raised its holdings in shares of NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after acquiring an additional 36,266,817 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

About NVIDIA

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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