Truist Financial Issues Positive Forecast for NVIDIA (NASDAQ:NVDA) Stock Price

NVIDIA (NASDAQ:NVDA - Get Free Report) had its price objective increased by stock analysts at Truist Financial from $204.00 to $205.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the computer hardware maker's stock. Truist Financial's price objective suggests a potential upside of 79.73% from the stock's previous close.

Other equities analysts have also recently issued research reports about the stock. Benchmark reiterated a "buy" rating and set a $190.00 price target on shares of NVIDIA in a research report on Tuesday, January 7th. Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a research report on Monday, January 27th. Tigress Financial restated a "buy" rating on shares of NVIDIA in a research report on Wednesday, February 26th. Melius Research raised their price objective on NVIDIA from $165.00 to $185.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Finally, Summit Insights downgraded shares of NVIDIA from a "buy" rating to a "hold" rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, NVIDIA has an average rating of "Moderate Buy" and a consensus price target of $169.62.

NVIDIA Trading Down 8.7 %

NASDAQ:NVDA traded down $10.86 during mid-day trading on Thursday, reaching $114.06. 406,734,689 shares of the company's stock traded hands, compared to its average volume of 277,815,844. The company has a 50 day moving average price of $134.19 and a 200-day moving average price of $132.12. The firm has a market capitalization of $2.78 trillion, a price-to-earnings ratio of 44.89, a PEG ratio of 1.76 and a beta of 1.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA has a 12-month low of $75.61 and a 12-month high of $153.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. On average, sell-side analysts predict that NVIDIA will post 2.77 earnings per share for the current year.

Insider Transactions at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the business's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares of the company's stock, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the transaction, the insider now directly owns 480,899 shares of the company's stock, valued at $65,056,016.72. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,107,632 shares of company stock valued at $146,405,286 over the last three months. Corporate insiders own 4.23% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Hoertkorn Richard Charles increased its stake in NVIDIA by 2.0% in the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker's stock worth $424,000 after acquiring an additional 70 shares during the last quarter. DiNuzzo Private Wealth Inc. grew its stake 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 buying an additional 71 shares in the last quarter. Smart Portfolios LLC increased its holdings in shares of NVIDIA by 2.7% in the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker's stock worth $341,000 after buying an additional 75 shares during the last quarter. Palisade Asset Management LLC raised its position in shares of NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker's stock valued at $1,866,000 after buying an additional 75 shares in the last quarter. Finally, Baker Boyer National Bank lifted its holdings 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 valued at $323,000 after acquiring an additional 76 shares during the last quarter. Institutional investors 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.