Nvidia (NVDA) Given New $243.00 Price Target at Stifel Nicolaus

Nvidia (NASDAQ:NVDA) had its target price raised by investment analysts at Stifel Nicolaus from $220.00 to $243.00 in a note issued to investors on Friday, May 11th, Marketbeat reports. The firm presently has a “hold” rating on the computer hardware maker’s stock. Stifel Nicolaus’ price target would indicate a potential downside of 1.90% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Needham & Company LLC upped their price objective on shares of Nvidia to $300.00 in a research report on Friday, February 9th. Zacks Investment Research upgraded shares of Nvidia from a “hold” rating to a “buy” rating and set a $262.00 price objective for the company in a research report on Wednesday, January 24th. BidaskClub downgraded shares of Nvidia from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 5th. Vetr upgraded shares of Nvidia from a “hold” rating to a “buy” rating and set a $246.84 price objective for the company in a research report on Monday, February 5th. Finally, Goldman Sachs downgraded shares of Nvidia from a “conviction-buy” rating to a “buy” rating and set a $281.00 price objective for the company. in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $255.65.

NVDA stock opened at $247.71 on Friday. Nvidia has a 12 month low of $242.51 and a 12 month high of $248.51. The firm has a market capitalization of $149.34 billion, a P/E ratio of 53.04, a price-to-earnings-growth ratio of 3.39 and a beta of 1.52. The company has a quick ratio of 7.82, a current ratio of 8.54 and a debt-to-equity ratio of 0.26.

Nvidia (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, May 10th. The computer hardware maker reported $2.05 EPS for the quarter, beating the consensus estimate of $1.47 by $0.58. The firm had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $2.88 billion. Nvidia had a net margin of 34.44% and a return on equity of 52.18%. Nvidia’s revenue for the quarter was up 65.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 EPS. equities research analysts forecast that Nvidia will post 7.08 earnings per share for the current fiscal year.

In other Nvidia news, EVP Ajay K. Puri sold 38,676 shares of the company’s stock in a transaction dated Tuesday, May 15th. The shares were sold at an average price of $255.36, for a total value of $9,876,303.36. Following the transaction, the executive vice president now directly owns 508,962 shares in the company, valued at approximately $129,968,536.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Persis Drell sold 5,141 shares of the company’s stock in a transaction dated Wednesday, March 28th. The shares were sold at an average price of $220.73, for a total transaction of $1,134,772.93. Following the completion of the transaction, the director now owns 20,963 shares in the company, valued at $4,627,162.99. The disclosure for this sale can be found here. Over the last three months, insiders purchased 624 shares of company stock worth $10,998 and sold 75,969 shares worth $18,708,706. 4.70% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. Gables Capital Management Inc. purchased a new position in Nvidia in the 1st quarter valued at about $880,000. Nvwm LLC lifted its holdings in Nvidia by 9.1% in the 1st quarter. Nvwm LLC now owns 6,434 shares of the computer hardware maker’s stock valued at $1,422,000 after purchasing an additional 536 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in Nvidia in the 1st quarter valued at about $324,000. NEXT Financial Group Inc lifted its holdings in shares of Nvidia by 68.5% during the 1st quarter. NEXT Financial Group Inc now owns 10,250 shares of the computer hardware maker’s stock worth $2,374,000 after acquiring an additional 4,166 shares during the period. Finally, Tuttle Tactical Management purchased a new position in shares of Nvidia during the 1st quarter worth about $1,353,000. Institutional investors own 66.89% of the company’s stock.

Nvidia Company Profile

NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

Analyst Recommendations for Nvidia (NASDAQ:NVDA)

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