Rosenblatt Securities Forecasts Strong Price Appreciation for NVIDIA (NASDAQ:NVDA) Stock

Key Points

• Rosenblatt Securities has raised NVIDIA's price target from $200 to $215, indicating a potential upside of 18.39% from its previous close.
• Several other analysts have also increased their price targets, with Wells Fargo setting a target of $220 and Loop Capital at $250, while the consensus price target is $198.19.
• Insider trading has seen significant activity, with CEO Jen Hsun Huang selling 75,000 shares for over $13 million, though he retains a substantial ownership stake.

NVIDIA (NASDAQ:NVDA - Get Free Report) had its price target raised by equities researchers at Rosenblatt Securities from $200.00 to $215.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the computer hardware maker's stock. Rosenblatt Securities' target price would suggest a potential upside of 18.39% from the stock's previous close.

A number of other equities analysts also recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of NVIDIA from $185.00 to $220.00 and gave the stock an "overweight" rating in a research note on Monday, August 11th. Citigroup reaffirmed a "buy" rating on shares of NVIDIA in a research note on Thursday. Barclays boosted their price objective on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. Loop Capital boosted their price objective on shares of NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Finally, Evercore ISI boosted their price objective on shares of NVIDIA from $190.00 to $214.00 and gave the stock an "outperform" rating in a research note on Friday, August 22nd. Four analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $198.19.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $181.60 on Thursday. 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 company has a market cap of $4.43 trillion, a P/E ratio of 58.58, a P/E/G ratio of 1.59 and a beta of 2.14. NVIDIA has a fifty-two week low of $86.62 and a fifty-two week high of $184.48. The firm's 50 day moving average is $169.53 and its two-hundred day moving average is $138.41.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%.The business's revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.61 EPS. Analysts expect that NVIDIA will post 2.77 EPS for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On NVIDIA

Institutional investors have recently made changes to their positions in the company. Astoria Portfolio Advisors LLC. boosted its holdings in NVIDIA by 0.9% during the first quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker's stock worth $9,610,000 after buying an additional 864 shares in the last quarter. Centerpoint Advisory Group boosted its holdings in NVIDIA by 2.5% during the first quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker's stock worth $4,270,000 after buying an additional 943 shares in the last quarter. GSB Wealth Management LLC boosted its holdings in NVIDIA by 3.3% during the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after buying an additional 1,043 shares in the last quarter. Variant Private Wealth LLC boosted its holdings in NVIDIA by 20.6% during the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after buying an additional 3,206 shares in the last quarter. Finally, Financial Perspectives Inc boosted its holdings in NVIDIA by 2.8% during the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after buying an additional 1,265 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

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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