NVIDIA (NASDAQ:NVDA) Coverage Initiated at The Goldman Sachs Group

Stock analysts at The Goldman Sachs Group started coverage on shares of NVIDIA (NASDAQ:NVDA - Get Free Report) in a research note issued on Thursday,Benzinga reports. The firm set a "buy" rating and a $185.00 price target on the computer hardware maker's stock. The Goldman Sachs Group's price target would suggest a potential upside of 13.58% from the company's current price.

Several other brokerages have also weighed in on NVDA. Arete Research upgraded shares of NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. KeyCorp set a $190.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Benchmark reissued a "buy" rating and set a $190.00 price objective on shares of NVIDIA in a research note on Thursday, May 29th. Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Finally, Rosenblatt Securities boosted their target price on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $177.03.

NVIDIA Stock Up 1.8%

NVDA stock opened at $162.88 on Thursday. NVIDIA has a one year low of $86.62 and a one year high of $164.59. The stock has a market capitalization of $3.97 trillion, a P/E ratio of 52.54, a PEG ratio of 1.42 and a beta of 2.13. The company has a 50 day moving average price of $139.47 and a two-hundred day moving average price of $128.43. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39.

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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the company posted $0.61 earnings per share. The business's revenue for the quarter was up 69.2% compared to the same quarter last year. As a group, sell-side analysts expect that NVIDIA will post 2.77 EPS for the current year.

Insider Transactions at NVIDIA

In other news, Director A Brooke Seawell sold 50,514 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $158.37, for a total transaction of $7,999,902.18. Following the sale, the director directly owned 1,974,784 shares in the company, valued at approximately $312,746,542.08. This represents a 2.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $158.35, for a total transaction of $11,876,250.00. Following the transaction, the chief executive officer directly owned 75,023,225 shares of the company's stock, valued at approximately $11,879,927,678.75. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,296,844 shares of company stock valued at $624,019,677. 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 the stock. Tacita Capital Inc bought a new position in shares of NVIDIA in the fourth quarter valued at $28,000. Vision Financial Markets LLC purchased a new stake in NVIDIA in the 4th quarter worth about $38,000. Kathleen S. Wright Associates Inc. grew its stake in NVIDIA by 169.3% during the 1st quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker's stock valued at $44,000 after acquiring an additional 254 shares in the last quarter. Copia Wealth Management acquired a new position in NVIDIA in the 4th quarter valued at approximately $50,000. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in NVIDIA in the 1st quarter valued at approximately $51,000. 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.

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