NVIDIA's (NVDA) "Outperform" Rating Reiterated at Wedbush

NVIDIA (NASDAQ:NVDA - Get Free Report)'s stock had its "outperform" rating reaffirmed by research analysts at Wedbush in a report released on Thursday, MarketBeat Ratings reports. They currently have a $1,000.00 price target on the computer hardware maker's stock. Wedbush's price objective points to a potential upside of 5.98% from the stock's current price.

Other research analysts also recently issued research reports about the company. DA Davidson raised their target price on NVIDIA from $410.00 to $620.00 and gave the stock a "neutral" rating in a research note on Thursday, February 22nd. Rosenblatt Securities reaffirmed a "buy" rating and set a $1,100.00 target price on shares of NVIDIA in a report on Tuesday, February 20th. Sanford C. Bernstein raised their price target on shares of NVIDIA from $700.00 to $1,000.00 and gave the company an "outperform" rating in a report on Thursday, February 22nd. Wolfe Research upped their price target on shares of NVIDIA from $630.00 to $900.00 and gave the stock an "outperform" rating in a report on Thursday, February 22nd. Finally, Raymond James lifted their price objective on NVIDIA from $850.00 to $1,100.00 and gave the company a "strong-buy" rating in a research note on Thursday, April 11th. Four analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA presently has a consensus rating of "Moderate Buy" and an average target price of $966.55.

NVIDIA Stock Performance

NASDAQ:NVDA traded down $2.71 during trading hours on Thursday, reaching $943.59. The stock had a trading volume of 32,315,733 shares, compared to its average volume of 50,023,961. NVIDIA has a 12-month low of $294.30 and a 12-month high of $974.00. The stock has a 50 day simple moving average of $881.66 and a 200 day simple moving average of $678.24. The stock has a market cap of $2.36 trillion, a P/E ratio of 79.03, a price-to-earnings-growth ratio of 1.29 and a beta of 1.75. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.21 by $0.95. The firm had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company's revenue was up 265.3% on a year-over-year basis. During the same quarter last year, the company earned $0.65 earnings per share. On average, research analysts forecast that NVIDIA will post 22.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the transaction, the director now owns 1,052,133 shares of the company's stock, valued at approximately $925,845,476.01. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Mark A. Stevens sold 10,000 shares of the company's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the transaction, the director now directly owns 1,124,583 shares of the company's stock, valued at $896,933,663.31. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the sale, the director now owns 1,052,133 shares of the company's stock, valued at $925,845,476.01. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,278 shares of company stock valued at $52,689,898. 3.99% of the stock is currently owned by corporate insiders.

Institutional Trading of NVIDIA

A number of large investors have recently made changes to their positions in the stock. Brooklyn FI LLC lifted its holdings in 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 acquiring an additional 12 shares during the period. Curran Financial Partners LLC increased its position in shares of NVIDIA by 1.8% during the 1st quarter. Curran Financial Partners LLC now owns 691 shares of the computer hardware maker's stock valued at $625,000 after purchasing an additional 12 shares during the last quarter. Beacon Bridge Wealth Partners LLC lifted its stake in shares of NVIDIA by 2.6% in the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 473 shares of the computer hardware maker's stock worth $428,000 after purchasing an additional 12 shares during the period. M. Kraus & Co boosted its holdings in shares of NVIDIA by 2.0% in the first quarter. M. Kraus & Co now owns 657 shares of the computer hardware maker's stock worth $594,000 after buying an additional 13 shares during the last quarter. Finally, Sterling Financial Group Inc. grew its position in NVIDIA by 0.9% during 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. 65.27% of the stock is currently 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.