NVIDIA (NASDAQ:NVDA) Stock Price Expected to Rise, Evercore ISI Analyst Says

NVIDIA (NASDAQ:NVDA) had its price target raised by research analysts at Evercore ISI from $189.00 to $190.00 in a research note issued to investors on Thursday, MarketBeat.com reports. The firm currently has an “outperform” rating on the computer hardware maker’s stock. Evercore ISI’s price objective would indicate a potential upside of 30.24% from the company’s previous close.

NVDA has been the topic of several other research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Tuesday, October 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a report on Monday. TD Cowen upped their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company increased their target price on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, William Blair started coverage on NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Five analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $159.15.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $145.89 on Thursday. The stock has a fifty day moving average of $133.00 and a 200-day moving average of $121.54. The company has a market capitalization of $3.58 trillion, a PE ratio of 68.43, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. NVIDIA has a one year low of $45.01 and a one year high of $149.77. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company’s revenue was up 93.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 EPS. As a group, equities analysts anticipate that NVIDIA will post 2.68 EPS for the current fiscal year.

NVIDIA announced that its board has initiated a stock repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $119.03, for a total value of $14,283,600.00. Following the completion of the transaction, the chief executive officer now directly owns 76,494,995 shares of the company’s stock, valued at approximately $9,105,199,254.85. This trade represents a 0.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the transaction, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,156,270 shares of company stock worth $254,784,327 over the last 90 days. Company insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

A number of hedge funds have recently modified their holdings of NVDA. University of Texas Texas AM Investment Management Co. increased its holdings in shares of NVIDIA by 897.5% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after purchasing an additional 107,169 shares during the period. Truepoint Inc. raised its stake in NVIDIA by 914.1% in the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after buying an additional 11,709 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in NVIDIA by 683.9% in the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after buying an additional 208,362 shares in the last quarter. Legal & General Group Plc increased its stake in shares of NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after purchasing an additional 191,469,114 shares in the last quarter. Finally, Lombard Odier Asset Management Europe Ltd increased its stake in shares of NVIDIA by 1,106.0% during the second quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker’s stock valued at $65,758,000 after purchasing an additional 488,148 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

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.