NVIDIA (NASDAQ:NVDA) Price Target Raised to $180.00

NVIDIA (NASDAQ:NVDA) had its target price raised by Susquehanna from $160.00 to $180.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “positive” rating on the computer hardware maker’s stock. Susquehanna’s price target would suggest a potential upside of 23.06% from the stock’s current price.

A number of other research firms also recently issued reports on NVDA. Westpark Capital raised their price objective on shares of NVIDIA from $127.50 to $165.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Citigroup raised their target price on NVIDIA from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group boosted their price target on shares of NVIDIA from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, October 11th. William Blair initiated coverage on shares of NVIDIA in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Finally, Mizuho upped their price objective on shares of NVIDIA from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Tuesday. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $151.88.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $146.27 on Thursday. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average price is $129.39 and its 200-day moving average price is $119.51. The firm has a market capitalization of $3.59 trillion, a P/E ratio of 68.61, a P/E/G ratio of 1.56 and a beta of 1.66. NVIDIA has a 1-year low of $45.01 and a 1-year high of $149.77.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion for the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the prior year, the company earned $0.25 earnings per share. The company’s quarterly revenue was up 122.4% on a year-over-year basis. Equities research analysts anticipate that NVIDIA will post 2.66 earnings per share for the current fiscal year.

NVIDIA declared that its board has authorized a share buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at approximately $57,370,572.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now owns 492,409 shares in the company, valued at $57,370,572.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,156,270 shares of company stock valued at $254,784,327. Company insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FPC Investment Advisory Inc. acquired a new position in NVIDIA during the first quarter worth $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA in the 1st quarter valued at about $27,000. HBC Financial Services PLLC acquired a new stake in NVIDIA during the first quarter worth approximately $30,000. TCTC Holdings LLC bought a new position in NVIDIA in the 1st quarter valued at about $82,000. Finally, Slocum Gordon & Co LLP bought a new stake in NVIDIA during the first quarter worth $98,000. 65.27% of the stock is 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.