NVIDIA (NASDAQ:NVDA) Price Target Raised to $160.00 at Bank of America

NVIDIA (NASDAQ:NVDA - Get Free Report) had its price objective lifted by analysts at Bank of America from $150.00 to $160.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the computer hardware maker's stock. Bank of America's target price points to a potential upside of 20.56% from the stock's previous close.

Other equities analysts have also issued reports about the company. Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. Cantor Fitzgerald restated an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a report on Wednesday, April 16th. Mizuho lowered their price target on NVIDIA from $175.00 to $168.00 and set an "outperform" rating on the stock in a report on Friday, March 14th. Susquehanna restated a "positive" rating and issued a $180.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, Truist Financial raised their target price on shares of NVIDIA from $204.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $164.84.

NVIDIA Stock Up 2.1%

Shares of NASDAQ NVDA traded up $2.79 during trading hours on Wednesday, hitting $132.72. The stock had a trading volume of 94,609,321 shares, compared to its average volume of 281,257,719. The firm's 50-day moving average price is $110.79 and its two-hundred day moving average price is $127.08. NVIDIA has a 52 week low of $86.62 and a 52 week high of $153.13. The company has a market capitalization of $3.25 trillion, a P/E ratio of 52.23, a P/E/G ratio of 1.76 and a beta of 2.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping the consensus estimate 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 net margin of 55.69% and a return on equity of 114.83%. Analysts anticipate that NVIDIA will post 2.77 EPS for the current fiscal year.

Insider Activity

In other NVIDIA news, Director Robert K. Burgess sold 53,324 shares of the company's stock in a transaction on 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 owns 251,044 shares of the company's stock, valued at approximately $28,993,071.56. This represents a 17.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the sale, the director now directly owns 17,279 shares of the company's stock, valued at $1,900,690. This trade represents a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock valued at $17,133,207 over the last three months. 4.23% of the stock is owned by insiders.

Institutional Trading of NVIDIA

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tacita Capital Inc bought a new stake in NVIDIA in the fourth quarter valued at about $28,000. Legend Financial Advisors Inc. acquired a new position in shares of NVIDIA during the 4th quarter worth about $34,000. Vision Financial Markets LLC bought a new stake in shares of NVIDIA in the 4th quarter valued at about $38,000. Luken Investment Analytics LLC acquired a new stake in shares of NVIDIA in the 4th quarter valued at approximately $40,000. Finally, Kathleen S. Wright Associates Inc. boosted 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 worth $44,000 after acquiring an additional 254 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

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.

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