Oppenheimer Reiterates "Outperform" Rating for NVIDIA (NASDAQ:NVDA)

NVIDIA (NASDAQ:NVDA - Get Free Report)'s stock had its "outperform" rating restated by Oppenheimer in a research note issued on Monday,Benzinga reports. They presently have a $175.00 price objective on the computer hardware maker's stock. Oppenheimer's target price indicates a potential upside of 20.54% from the stock's previous close.

A number of other research firms also recently weighed in on NVDA. Rosenblatt Securities boosted their target price on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 price target on shares of NVIDIA in a research note on Wednesday, April 16th. Hsbc Global Res lowered NVIDIA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 3rd. DA Davidson upped their price target on NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Finally, HSBC lowered NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price target on the stock. in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-five have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, NVIDIA currently has an average rating of "Moderate Buy" and a consensus price target of $172.24.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA traded up $3.21 during trading on Monday, hitting $145.18. 128,873,576 shares of the stock were exchanged, compared to its average volume of 275,800,557. NVIDIA has a 1-year low of $86.62 and a 1-year high of $153.13. The company has a market capitalization of $3.54 trillion, a price-to-earnings ratio of 57.16, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12. The company's fifty day simple moving average is $122.77 and its 200-day simple moving average is $126.32. 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 announced its quarterly 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). 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 55.69% and a return on equity of 114.83%. NVIDIA's quarterly revenue was up 69.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 EPS. Sell-side analysts expect that NVIDIA will post 2.77 EPS for the current fiscal year.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the sale, the director now directly owns 26,671,360 shares in the company, valued at $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Aarti S. Shah sold 20,000 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the sale, the director now owns 53,208 shares of the company's stock, valued at $6,300,891.36. This trade represents a 27.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,560,845 shares of company stock worth $360,351,849 over the last three months. Company insiders own 4.17% of the company's stock.

Hedge Funds Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Peterson Wealth Management increased its stake in shares of NVIDIA by 1.6% during the first quarter. Peterson Wealth Management now owns 71,486 shares of the computer hardware maker's stock valued at $7,748,000 after purchasing an additional 1,133 shares in the last quarter. 1248 Management LLC boosted its stake in shares of NVIDIA by 56.0% during the 1st quarter. 1248 Management LLC now owns 57,621 shares of the computer hardware maker's stock worth $6,246,000 after acquiring an additional 20,677 shares during the last quarter. First Long Island Investors LLC boosted its stake in shares of NVIDIA by 3.1% during the 1st quarter. First Long Island Investors LLC now owns 385,955 shares of the computer hardware maker's stock worth $41,830,000 after acquiring an additional 11,496 shares during the last quarter. Nicola Wealth Management LTD. purchased a new position in shares of NVIDIA during the 1st quarter worth $5,744,000. Finally, Cim LLC boosted its stake in shares of NVIDIA by 4.2% during the 1st quarter. Cim LLC now owns 268,671 shares of the computer hardware maker's stock worth $29,119,000 after acquiring an additional 10,874 shares during the last quarter. Institutional investors own 65.27% of the company's stock.

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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