NVIDIA's (NVDA) Buy Rating Reaffirmed at Needham & Company LLC

NVIDIA (NASDAQ:NVDA - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $160.00 target price on the computer hardware maker's stock. Needham & Company LLC's price target points to a potential upside of 19.15% from the stock's current price.

NVDA has been the topic of several other research reports. DZ Bank raised NVIDIA from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th. Stifel Nicolaus set a $180.00 price target on NVIDIA in a research report on Wednesday, March 19th. DA Davidson reduced their price target on NVIDIA from $125.00 to $120.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Citigroup reissued a "buy" rating and set a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a research report on Thursday. Finally, Tigress Financial reissued a "buy" rating on shares of NVIDIA in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $171.66.

NVIDIA Stock Performance

Shares of NVIDIA stock traded down $4.91 on Thursday, hitting $134.28. The stock had a trading volume of 332,224,842 shares, compared to its average volume of 285,804,787. NVIDIA has a twelve month low of $86.62 and a twelve month high of $195.95. The business's 50 day moving average is $115.20 and its two-hundred day moving average is $126.61. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market cap of $3.28 trillion, a price-to-earnings ratio of 52.85, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted 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 55.69% and a return on equity of 114.83%. The firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period in the previous year, the company posted $0.61 EPS. NVIDIA's revenue for the quarter was up 69.2% compared to the same quarter last year. Analysts forecast that NVIDIA will post 2.77 EPS for the current year.

Insiders Place Their Bets

In other NVIDIA news, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the transaction, the director now directly owns 251,044 shares of the company's stock, valued at approximately $28,993,071.56. The trade was a 17.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now directly owns 17,279 shares in the company, valued at $1,900,690. The trade was a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,147 shares of company stock valued at $17,133,207. 4.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. DiNuzzo Private Wealth Inc. raised its position in shares of NVIDIA by 0.8% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker's stock worth $1,157,000 after acquiring an additional 71 shares in the last quarter. Baker Boyer National Bank raised its position in shares of NVIDIA by 3.3% in the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker's stock worth $323,000 after acquiring an additional 76 shares in the last quarter. Elevate Wealth Advisory Inc. raised its position in shares of NVIDIA by 1.7% in the 1st quarter. Elevate Wealth Advisory Inc. now owns 4,617 shares of the computer hardware maker's stock worth $500,000 after acquiring an additional 77 shares in the last quarter. SC&H Financial Advisors Inc. raised its position in shares of NVIDIA by 1.6% in the 4th quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker's stock worth $681,000 after acquiring an additional 80 shares in the last quarter. Finally, DecisionPoint Financial LLC raised its position in shares of NVIDIA by 2.9% in the 4th quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker's stock worth $386,000 after acquiring an additional 80 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

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.