NVIDIA (NASDAQ:NVDA) Price Target Raised to $235.00 at TD Cowen

Key Points

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NVIDIA (NASDAQ:NVDA - Get Free Report) had its target price lifted by investment analysts at TD Cowen from $140.00 to $235.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the computer hardware maker's stock. TD Cowen's price target indicates a potential upside of 31.35% from the stock's previous close.

A number of other equities research analysts also recently issued reports on the stock. Loop Capital boosted their target price on shares of NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Seaport Res Ptn upgraded shares of NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. Summit Insights upgraded shares of NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. Raymond James Financial increased their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. Finally, Bank of America increased their target price on shares of NVIDIA from $180.00 to $220.00 in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $189.28.

NVIDIA Stock Performance

NASDAQ:NVDA traded down $3.10 during trading hours on Tuesday, reaching $178.92. 34,779,377 shares of the company's stock were exchanged, compared to its average volume of 240,150,453. The firm has a market capitalization of $4.37 trillion, a price-to-earnings ratio of 57.65, a P/E/G ratio of 1.59 and a beta of 2.14. The company has a 50-day moving average of $164.75 and a 200 day moving average of $135.95. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. NVIDIA has a 1-year low of $86.62 and a 1-year high of $184.48.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm's revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter last year, the business earned $0.61 EPS. Research analysts anticipate that NVIDIA will post 2.77 EPS for the current year.

Insider Activity

In other NVIDIA news, CFO Colette Kress sold 27,640 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $178.06, for a total value of $4,921,578.40. Following the transaction, the chief financial officer directly owned 2,956,876 shares of the company's stock, valued at approximately $526,501,340.56. The trade was a 0.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $179.76, for a total value of $13,482,000.00. Following the transaction, the chief executive officer directly owned 72,848,225 shares in the company, valued at $13,095,196,926. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,912,440 shares of company stock worth $902,886,782. Company insiders own 4.17% of the company's stock.

Hedge Funds Weigh In On NVIDIA

A number of institutional investors have recently modified their holdings of NVDA. Kingstone Capital Partners Texas LLC grew its stake in shares of NVIDIA by 267,959.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 382,373,765 shares of the computer hardware maker's stock worth $64,976,521,000 after acquiring an additional 382,231,120 shares during the period. Norges Bank bought a new position in shares of NVIDIA during the 2nd quarter worth $51,386,863,000. Nuveen LLC bought a new position in shares of NVIDIA during the 1st quarter worth $15,089,414,000. Goldman Sachs Group Inc. boosted its stake in NVIDIA by 123.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 187,995,213 shares of the computer hardware maker's stock worth $20,374,921,000 after purchasing an additional 103,889,872 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of NVIDIA by 12,173.2% in the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock valued at $5,293,039,000 after acquiring an additional 48,439,859 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

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.

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