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

Key Points

• Benchmark has raised its price target for NVIDIA (NASDAQ:NVDA) from $190.00 to $220.00, indicating a potential upside of 21.15% from the previous close and maintaining a "buy" rating.
• NVIDIA's stock is currently performing well, having a market capitalization of $4.43 trillion and a 12-month high of $184.48, while the consensus rating for the stock is "Moderate Buy."
• Insider selling activities were noted, with CFO Colette Kress and CEO Jen Hsun Huang each selling shares, but they still retain significant ownership of the company.

NVIDIA (NASDAQ:NVDA - Get Free Report) had its price target increased by research analysts at Benchmark from $190.00 to $220.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the computer hardware maker's stock. Benchmark's price target would suggest a potential upside of 21.15% from the company's previous close.

NVDA has been the topic of several other reports. Arete Research upgraded shares of NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Citigroup reiterated a "buy" rating on shares of NVIDIA in a research note on Thursday. Seaport Res Ptn upgraded shares of NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. Jefferies Financial Group lifted their price target on shares of NVIDIA from $185.00 to $200.00 in a research note on Wednesday, July 16th. Finally, DA Davidson lifted their price target on shares of NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $198.19.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $181.60 on Thursday. The business has a 50-day moving average of $169.53 and a 200 day moving average of $138.41. NVIDIA has a 12 month low of $86.62 and a 12 month high of $184.48. The stock has a market capitalization of $4.43 trillion, a price-to-earnings ratio of 58.58, a price-to-earnings-growth ratio of 1.59 and a beta of 2.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The firm had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business's revenue was up 69.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.61 earnings per share. As a group, sell-side analysts forecast that NVIDIA will post 2.77 earnings per share for the current year.

Insider Buying and Selling at NVIDIA

In other news, CFO Colette Kress sold 27,640 shares of NVIDIA stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the completion of the sale, the chief financial officer directly owned 2,956,876 shares in the company, valued at $526,501,340.56. The trade was a 0.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction dated 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 owned 72,848,225 shares of the company's stock, valued at approximately $13,095,196,926. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,912,440 shares of company stock worth $902,886,782 over the last 90 days. Company insiders own 4.17% of the company's stock.

Institutional Investors Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently modified their holdings of NVDA. Brighton Jones LLC lifted its holdings in shares of NVIDIA by 12.4% during the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock worth $43,631,000 after acquiring an additional 35,815 shares during the period. Bank Pictet & Cie Europe AG grew its holdings in shares of NVIDIA by 1.0% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker's stock worth $315,100,000 after purchasing an additional 22,929 shares during the period. Highview Capital Management LLC DE grew its holdings in shares of NVIDIA by 6.7% during the 4th quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker's stock worth $7,842,000 after purchasing an additional 3,653 shares during the period. Hudson Value Partners LLC grew its holdings in shares of NVIDIA by 30.7% during the 4th quarter. Hudson Value Partners LLC now owns 50,658 shares of the computer hardware maker's stock worth $6,805,000 after purchasing an additional 11,900 shares during the period. Finally, NEOS Investment Management LLC grew its holdings in shares of NVIDIA by 26.0% during the 4th quarter. NEOS Investment Management LLC now owns 1,966,142 shares of the computer hardware maker's stock worth $264,033,000 after purchasing an additional 405,894 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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