The Goldman Sachs Group Raises NVIDIA (NASDAQ:NVDA) Price Target to $165.00

NVIDIA (NASDAQ:NVDA) had its target price raised by equities researchers at The Goldman Sachs Group from $150.00 to $165.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the computer hardware maker’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 13.10% from the company’s current price.

Several other analysts have also recently commented on NVDA. Mizuho increased their target price on NVIDIA from $140.00 to $165.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Westpark Capital increased 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. TD Cowen raised shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Redburn Atlantic initiated coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price on the stock. Finally, Stifel Nicolaus boosted their price objective on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday. Five analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $155.82.

NVIDIA Stock Performance

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

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

NVIDIA announced that its Board of Directors has initiated a share buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity at NVIDIA

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

Institutional Trading of NVIDIA

Several hedge funds and other institutional investors have recently modified their holdings of NVDA. Morse Asset Management Inc raised its holdings in NVIDIA by 0.7% in the 3rd quarter. Morse Asset Management Inc now owns 202,054 shares of the computer hardware maker’s stock valued at $24,537,000 after acquiring an additional 1,374 shares during the period. Diamant Asset Management Inc. bought a new position in shares of NVIDIA during the third quarter worth approximately $247,000. Advisory Resource Group increased its stake in shares of NVIDIA by 6.1% during the third quarter. Advisory Resource Group now owns 17,620 shares of the computer hardware maker’s stock worth $2,140,000 after purchasing an additional 1,016 shares during the period. McIlrath & Eck LLC lifted its holdings in NVIDIA by 18.7% during the 3rd quarter. McIlrath & Eck LLC now owns 20,365 shares of the computer hardware maker’s stock worth $2,473,000 after purchasing an additional 3,214 shares during the last quarter. Finally, Discipline Wealth Solutions LLC bought a new stake in NVIDIA in the 3rd quarter valued at $792,000. 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.