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

The Goldman Sachs Group began coverage on shares of NVIDIA (NASDAQ:NVDA - Get Free Report) in a research report issued on Thursday, MarketBeat.com 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 indicates a potential upside of 12.74% from the stock's current price.

Several other equities analysts also recently weighed in on NVDA. Truist Financial lifted their target price on NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Summit Insights raised shares of NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Morgan Stanley reiterated an "overweight" rating and issued a $170.00 price target (up previously from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $177.03.

NVIDIA Stock Performance

Shares of NVDA traded up $1.22 during trading hours on Thursday, hitting $164.10. The stock had a trading volume of 167,093,998 shares, compared to its average volume of 266,706,768. NVIDIA has a 12 month low of $86.62 and a 12 month high of $164.70. The stock has a fifty day moving average price of $139.47 and a 200 day moving average price of $128.43. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The firm has a market capitalization of $4.00 trillion, a PE ratio of 52.94, a PEG ratio of 1.44 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly 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 for the quarter, compared to analysts' expectations of $43.09 billion. During the same period in the previous year, the company earned $0.61 EPS. NVIDIA's revenue for the quarter was up 69.2% compared to the same quarter last year. Analysts anticipate that NVIDIA will post 2.77 EPS for the current year.

Insider Activity

In other news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $158.35, for a total transaction of $11,876,250.00. Following the completion of the sale, the chief executive officer owned 75,023,225 shares in the company, valued at approximately $11,879,927,678.75. This represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director A Brooke Seawell sold 50,514 shares of NVIDIA 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 completion of the sale, the director owned 1,974,784 shares of the company's stock, valued at $312,746,542.08. This trade represents a 2.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,296,844 shares of company stock valued at $624,019,677. Insiders own 4.17% of the company's stock.

Hedge Funds Weigh In On NVIDIA

Several institutional investors and hedge funds have recently modified their holdings of NVDA. Pachira Investments Inc. boosted its position in NVIDIA by 1.0% during the second quarter. Pachira Investments Inc. now owns 6,450 shares of the computer hardware maker's stock worth $1,019,000 after purchasing an additional 63 shares in the last quarter. Perkins Coie Trust Co lifted its position in shares of NVIDIA by 14.1% in the second quarter. Perkins Coie Trust Co now owns 56,630 shares of the computer hardware maker's stock valued at $8,947,000 after acquiring an additional 7,011 shares in the last quarter. Sterling Financial Group Inc. boosted its stake in shares of NVIDIA by 2.8% in the second quarter. Sterling Financial Group Inc. now owns 15,648 shares of the computer hardware maker's stock worth $2,472,000 after acquiring an additional 425 shares during the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of NVIDIA during the second quarter worth approximately $3,866,000. Finally, Triangle Securities Wealth Management increased its position in shares of NVIDIA by 9.7% during the second quarter. Triangle Securities Wealth Management now owns 19,005 shares of the computer hardware maker's stock worth $3,003,000 after purchasing an additional 1,677 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

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.