Citigroup Issues Positive Forecast for NVIDIA (NASDAQ:NVDA) Stock Price

NVIDIA (NASDAQ:NVDA - Get Free Report) had its price target hoisted by equities researchers at Citigroup from $170.00 to $175.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the computer hardware maker's stock. Citigroup's price target would indicate a potential upside of 19.28% from the stock's current price.

Other analysts have also issued research reports about the company. Melius Research boosted their price target on NVIDIA from $165.00 to $185.00 and gave the company a "buy" rating in a report on Monday, November 11th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $100.00 target price on shares of NVIDIA in a report on Monday, August 5th. Evercore ISI lifted their price objective on NVIDIA from $189.00 to $190.00 and gave the company an "outperform" rating in a report on Thursday. Redburn Atlantic started coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They issued a "buy" rating and a $178.00 price target for the company. Finally, HSBC lifted their price objective on shares of NVIDIA from $145.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Five investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.82.

NVIDIA Trading Up 0.6 %

Shares of NVIDIA stock traded up $0.82 during trading on Thursday, hitting $146.71. The stock had a trading volume of 368,478,266 shares, compared to its average volume of 397,646,125. The stock has a market cap of $3.60 trillion, a PE ratio of 68.81, a PEG ratio of 1.54 and a beta of 1.66. NVIDIA has a 12 month low of $45.01 and a 12 month high of $152.89. The firm's fifty day simple moving average is $133.55 and its 200-day simple moving average is $121.72. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The firm had revenue of $35.08 billion for the quarter, compared to analysts' expectations of $33.15 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The company's quarterly revenue was up 93.6% on a year-over-year basis. As a group, sell-side analysts expect that NVIDIA will post 2.68 EPS for the current fiscal year.

NVIDIA announced that its board has authorized a stock repurchase program on Wednesday, August 28th that allows the company to buyback $50.00 billion in shares. This buyback authorization allows the computer hardware maker to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Insider Activity at NVIDIA

In other news, Director Mark A. Stevens sold 155,000 shares of the company's stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares of the company's stock, valued at approximately $1,071,402,475.59. This represents a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 76,494,995 shares of the company's stock, valued at $9,105,199,254.85. The trade was a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,156,270 shares of company stock valued at $254,784,327 over the last three months. 4.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NVIDIA

A number of institutional investors have recently added to or reduced their stakes in NVDA. FPC Investment Advisory Inc. purchased a new position in NVIDIA in the 1st quarter valued at approximately $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA in the first quarter worth $27,000. TCTC Holdings LLC purchased a new stake in shares of NVIDIA in the first quarter valued at $82,000. Delos Wealth Advisors LLC boosted its stake in shares of NVIDIA by 600.0% during the first quarter. Delos Wealth Advisors LLC now owns 112 shares of the computer hardware maker's stock valued at $101,000 after acquiring an additional 96 shares during the last quarter. Finally, Lowe Wealth Advisors LLC purchased a new stake in NVIDIA during the 2nd quarter worth about $25,000. Hedge funds and other 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.