Citigroup Increases NVIDIA (NASDAQ:NVDA) Price Target to $190.00

NVIDIA (NASDAQ:NVDA - Get Free Report) had its price target boosted by investment analysts at Citigroup from $180.00 to $190.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the computer hardware maker's stock. Citigroup's price objective would indicate a potential upside of 18.94% from the stock's previous close.

Several other analysts also recently commented on the company. Rosenblatt Securities upped their price objective on NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Loop Capital upped their price objective on NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Raymond James Financial upped their price objective on NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a research note on Thursday, May 29th. Finally, KeyCorp set a $190.00 price objective on NVIDIA in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $176.47.

NVIDIA Trading Up 0.9%

NASDAQ:NVDA traded up $1.50 on Monday, reaching $159.74. The company's stock had a trading volume of 104,375,918 shares, compared to its average volume of 267,212,870. NVIDIA has a 12-month low of $86.62 and a 12-month high of $160.98. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The firm has a market cap of $3.90 trillion, a price-to-earnings ratio of 51.53, a price-to-earnings-growth ratio of 1.41 and a beta of 2.13. The stock has a 50 day moving average price of $137.37 and a 200 day moving average price of $127.97.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. 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 firm posted $0.61 earnings per share. The company's quarterly revenue was up 69.2% compared to the same quarter last year. On average, equities analysts anticipate that NVIDIA will post 2.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other NVIDIA news, Director A Brooke Seawell sold 50,514 shares of the stock in a transaction 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 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $158.35, for a total value of $11,876,250.00. Following the sale, the chief executive officer owned 75,023,225 shares in the company, 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 quarter, insiders have sold 4,296,844 shares of company stock worth $624,019,677. 4.17% of the stock is owned by insiders.

Institutional Investors Weigh In On NVIDIA

Several hedge funds have recently made changes to their positions in NVDA. Wealth Group Ltd. raised its position in shares of NVIDIA by 1.8% in the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock worth $766,000 after buying an additional 100 shares during the period. Tallon Kerry Patrick purchased a new position in shares of NVIDIA in the 4th quarter worth $972,000. Capital & Planning LLC raised its position in shares of NVIDIA by 16.9% in the 4th quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker's stock worth $1,021,000 after buying an additional 1,099 shares during the period. Ironwood Wealth Management LLC. raised its position in shares of NVIDIA by 1.6% in the 4th quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker's stock worth $871,000 after buying an additional 104 shares during the period. Finally, Brighton Jones LLC raised its position in NVIDIA by 12.4% in the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock valued at $43,631,000 after purchasing an additional 35,815 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.