NVIDIA Corporation (NVDA) Rating Increased to Market Perform at BMO Capital Markets

NVIDIA Corporation (NASDAQ:NVDA) was upgraded by equities researchers at BMO Capital Markets from an “underperform” rating to a “market perform” rating in a report released on Monday. The firm presently has a $216.14 target price on the computer hardware maker’s stock, down from their prior target price of $218.67. BMO Capital Markets’ target price would suggest a potential upside of 0.92% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. MKM Partners lifted their price target on shares of NVIDIA Corporation and gave the company a “neutral” rating in a report on Friday, November 10th. Raymond James Financial, Inc. lifted their price target on shares of NVIDIA Corporation and gave the company an “outperform” rating in a report on Friday, November 10th. Barclays PLC lifted their target price on shares of NVIDIA Corporation from $200.00 to $225.00 and gave the company an “equal weight” rating in a report on Friday, November 10th. Bank of America Corporation lifted their target price on shares of NVIDIA Corporation from $210.00 to $251.00 and gave the company a “buy” rating in a report on Friday, November 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $250.00 target price on shares of NVIDIA Corporation in a report on Friday, November 10th. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. NVIDIA Corporation currently has a consensus rating of “Buy” and a consensus target price of $185.93.

NVIDIA Corporation (NASDAQ:NVDA) opened at $214.18 on Monday. The firm has a market cap of $128,510.00, a price-to-earnings ratio of 52.37, a price-to-earnings-growth ratio of 4.74 and a beta of 1.23. NVIDIA Corporation has a 1-year low of $83.93 and a 1-year high of $218.67. The company has a quick ratio of 7.42, a current ratio of 8.26 and a debt-to-equity ratio of 0.31.

NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.39. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.36 billion. NVIDIA Corporation had a net margin of 28.78% and a return on equity of 42.71%. NVIDIA Corporation’s revenue for the quarter was up 31.5% on a year-over-year basis. During the same quarter last year, the business earned $0.94 EPS. equities research analysts expect that NVIDIA Corporation will post 4 earnings per share for the current year.

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In related news, CFO Colette Kress sold 22,808 shares of the business’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $185.31, for a total value of $4,226,550.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Dawn E. Hudson sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $213.44, for a total transaction of $3,201,600.00. Following the completion of the sale, the director now owns 46,868 shares in the company, valued at $10,003,505.92. The disclosure for this sale can be found here. Insiders sold a total of 451,503 shares of company stock worth $81,997,895 over the last quarter. Insiders own 5.17% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. raised its holdings in shares of NVIDIA Corporation by 0.7% during the second quarter. Thompson Davis & CO. Inc. now owns 822 shares of the computer hardware maker’s stock valued at $119,000 after acquiring an additional 6 shares during the period. Family Firm Inc. raised its holdings in shares of NVIDIA Corporation by 0.7% during the second quarter. Family Firm Inc. now owns 1,968 shares of the computer hardware maker’s stock valued at $284,000 after acquiring an additional 13 shares during the period. Appleton Partners Inc. MA raised its holdings in shares of NVIDIA Corporation by 1.2% during the second quarter. Appleton Partners Inc. MA now owns 2,570 shares of the computer hardware maker’s stock valued at $372,000 after acquiring an additional 30 shares during the period. Carnegie Capital Asset Management LLC raised its holdings in shares of NVIDIA Corporation by 0.4% during the second quarter. Carnegie Capital Asset Management LLC now owns 7,371 shares of the computer hardware maker’s stock valued at $1,212,000 after acquiring an additional 30 shares during the period. Finally, Pinebridge Investments L.P. raised its holdings in shares of NVIDIA Corporation by 1.8% during the second quarter. Pinebridge Investments L.P. now owns 1,872 shares of the computer hardware maker’s stock valued at $271,000 after acquiring an additional 33 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

About NVIDIA Corporation

Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.

Analyst Recommendations for NVIDIA Corporation (NASDAQ:NVDA)

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