Wells Fargo & Company Increases NVIDIA (NASDAQ:NVDA) Price Target to $1,150.00

NVIDIA (NASDAQ:NVDA - Get Free Report) had its price objective raised by equities research analysts at Wells Fargo & Company from $970.00 to $1,150.00 in a report released on Tuesday, Benzinga reports. The firm presently has an "overweight" rating on the computer hardware maker's stock. Wells Fargo & Company's target price would indicate a potential upside of 25.88% from the stock's current price.

Other research analysts also recently issued reports about the stock. Bank of America upped their target price on shares of NVIDIA from $925.00 to $1,100.00 and gave the company a "buy" rating in a research report on Wednesday, March 13th. Morgan Stanley boosted their target price on NVIDIA from $795.00 to $1,000.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 10th. Wedbush reissued an "outperform" rating and set a $1,000.00 price objective on shares of NVIDIA in a research note on Tuesday, March 19th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $900.00 target price on shares of NVIDIA in a research note on Monday, March 4th. Finally, Needham & Company LLC raised their price objective on NVIDIA from $600.00 to $850.00 and gave the stock a "buy" rating in a research note on Thursday, February 22nd. Four analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $966.55.

NVIDIA Price Performance

Shares of NVDA traded up $9.57 during mid-day trading on Tuesday, reaching $913.56. The company had a trading volume of 29,578,749 shares, compared to its average volume of 50,302,699. NVIDIA has a twelve month low of $281.52 and a twelve month high of $974.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67. The company's 50-day moving average is $879.39 and its 200-day moving average is $672.77. The company has a market capitalization of $2.28 trillion, a P/E ratio of 76.51, a P/E/G ratio of 1.29 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business had revenue of $22.10 billion during the quarter, compared to analysts' expectations of $20.40 billion. During the same period in the prior year, the firm posted $0.65 EPS. NVIDIA's quarterly revenue was up 265.3% compared to the same quarter last year. On average, equities analysts anticipate that NVIDIA will post 22.55 EPS for the current year.

Insider Activity

In related news, insider Donald F. Robertson, Jr. sold 450 shares of the firm's stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $911.62, for a total transaction of $410,229.00. Following the completion of the sale, the insider now owns 49,815 shares of the company's stock, valued at $45,412,350.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Donald F. Robertson, Jr. sold 450 shares of the firm's stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $911.62, for a total transaction of $410,229.00. Following the completion of the sale, the insider now owns 49,815 shares of the company's stock, valued at $45,412,350.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Dabiri sold 128 shares of the firm's stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the sale, the director now directly owns 2,055 shares of the company's stock, valued at approximately $1,931,700. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,278 shares of company stock valued at $52,689,898. Company insiders own 3.99% of the company's stock.

Institutional Investors Weigh In On NVIDIA

A number of hedge funds have recently added to or reduced their stakes in the company. Brooklyn FI LLC lifted its holdings in shares of NVIDIA by 2.5% in the first quarter. Brooklyn FI LLC now owns 489 shares of the computer hardware maker's stock valued at $442,000 after purchasing an additional 12 shares in the last quarter. Curran Financial Partners LLC lifted its holdings in NVIDIA by 1.8% during the first quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker's stock worth $625,000 after acquiring an additional 12 shares during the period. Beacon Bridge Wealth Partners LLC lifted its holdings in NVIDIA by 2.6% during the first quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker's stock worth $428,000 after acquiring an additional 12 shares during the period. M. Kraus & Co lifted its holdings in NVIDIA by 2.0% during the first quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker's stock worth $594,000 after acquiring an additional 13 shares during the period. Finally, Sterling Financial Group Inc. raised its stake in shares of NVIDIA by 0.9% in the first quarter. Sterling Financial Group Inc. now owns 1,452 shares of the computer hardware maker's stock valued at $1,312,000 after buying an additional 13 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

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.