NVIDIA (NASDAQ:NVDA) Price Target Raised to $220.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company has raised its price target for NVIDIA (NASDAQ: NVDA) from $185.00 to $220.00, indicating a potential upside of 20.11% from the stock's previous close and maintaining an "overweight" rating.
• Several analysts have upgraded NVIDIA's ratings and price objectives recently, with Barclays increasing their price target to $200.00 and Truist Financial to $210.00.
• NVIDIA reported a quarterly revenue of $44.06 billion, which surpassed analyst expectations, even though its earnings per share (EPS) fell short of consensus estimates.

NVIDIA (NASDAQ:NVDA - Get Free Report) had its target price increased by analysts at Wells Fargo & Company from $185.00 to $220.00 in a report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the computer hardware maker's stock. Wells Fargo & Company's price target indicates a potential upside of 21.92% from the company's previous close.

A number of other research analysts have also recently commented on the stock. Oppenheimer upped their target price on shares of NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Morgan Stanley upped their target price on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Arete Research raised shares of NVIDIA to a "strong-buy" rating in a research report on Wednesday, May 21st. UBS Group reiterated a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Finally, Bank of America boosted their price target on shares of NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, NVIDIA currently has an average rating of "Moderate Buy" and an average target price of $186.33.

NVIDIA Trading Down 0.9%

NASDAQ NVDA traded down $1.57 during trading hours on Monday, reaching $180.45. The company had a trading volume of 156,219,545 shares, compared to its average volume of 153,661,792. The stock has a 50-day moving average of $163.96 and a 200 day moving average of $135.36. NVIDIA has a 1-year low of $86.62 and a 1-year high of $184.48. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $4.40 trillion, a P/E ratio of 58.21, a price-to-earnings-growth ratio of 1.60 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period in the previous year, the company earned $0.61 EPS. The company's quarterly revenue was up 69.2% compared to the same quarter last year. As a group, research analysts anticipate that NVIDIA will post 2.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Colette Kress sold 27,640 shares of NVIDIA stock in a transaction on Monday, August 4th. The stock was sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the completion of the transaction, the chief financial officer owned 2,956,876 shares of the company's stock, valued at $526,501,340.56. The trade was a 0.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $181.38, for a total transaction of $13,603,500.00. Following the completion of the sale, the chief executive officer directly owned 72,998,225 shares in the company, valued at $13,240,418,050.50. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,837,440 shares of company stock valued at $889,404,782. 4.17% of the stock is owned by corporate insiders.

Institutional Trading of NVIDIA

Institutional investors and hedge funds have recently modified their holdings of the business. Harbor Asset Planning Inc. purchased a new stake in NVIDIA during the 2nd quarter worth about $28,000. Winnow Wealth LLC purchased a new stake in NVIDIA during the 2nd quarter worth about $32,000. Longfellow Investment Management Co. LLC increased its position in NVIDIA by 47.9% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker's stock worth $33,000 after purchasing an additional 67 shares in the last quarter. Spurstone Advisory Services LLC purchased a new stake in NVIDIA during the 2nd quarter worth about $40,000. Finally, Kathleen S. Wright Associates Inc. increased its position 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 purchasing an additional 254 shares in the last quarter. Hedge funds and other 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.