NVIDIA (NASDAQ:NVDA) Price Target Raised to $185.00 at Melius Research

NVIDIA (NASDAQ:NVDA - Get Free Report) had its target price boosted by Melius Research from $165.00 to $185.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the computer hardware maker's stock. Melius Research's price target points to a potential upside of 27.36% from the stock's previous close.

Other equities research analysts have also issued research reports about the company. Truist Financial upped their price target on NVIDIA from $140.00 to $145.00 and gave the company a "buy" rating in a research report on Tuesday, August 27th. Robert W. Baird upped their price target on NVIDIA from $120.00 to $150.00 and gave the company an "outperform" rating in a research report on Thursday, August 29th. Rosenblatt Securities reiterated a "buy" rating and issued a $200.00 price target on shares of NVIDIA in a research report on Thursday, August 29th. Raymond James upped their target price on NVIDIA from $120.00 to $140.00 and gave the company a "strong-buy" rating in a research report on Thursday, August 29th. Finally, Benchmark restated a "buy" rating and set a $170.00 target price on shares of NVIDIA in a research report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $145.63.

NVIDIA Price Performance

NVDA traded down $2.37 on Monday, reaching $145.26. The stock had a trading volume of 181,679,560 shares, compared to its average volume of 403,085,563. NVIDIA has a fifty-two week low of $45.01 and a fifty-two week high of $149.77. The firm has a 50-day moving average of $127.27 and a 200-day moving average of $118.46. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $3.56 trillion, a price-to-earnings ratio of 68.20, a price-to-earnings-growth ratio of 1.56 and a beta of 1.66.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.04. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The business had revenue of $30.04 billion during the quarter, compared to analysts' expectations of $28.74 billion. During the same quarter in the prior year, the firm earned $0.25 EPS. The business's revenue for the quarter was up 122.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that NVIDIA will post 2.66 EPS for the current year.

NVIDIA announced that its Board of Directors has initiated a stock 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 stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business's stock in a transaction 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 in the company, valued at $9,105,199,254.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Jen Hsun Huang sold 120,000 shares of NVIDIA stock in a transaction 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 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the transaction, the chief financial officer now owns 4,954,214 shares of the company's stock, valued at approximately $577,611,810.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,270 shares of company stock worth $254,784,327 over the last ninety days. 4.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FPC Investment Advisory Inc. bought a new stake in NVIDIA during the first quarter worth about $26,000. Koesten Hirschmann & Crabtree INC. bought a new stake in NVIDIA during the first quarter worth about $27,000. HBC Financial Services PLLC bought a new stake in NVIDIA during the first quarter worth about $30,000. TCTC Holdings LLC bought a new stake in NVIDIA during the first quarter worth about $82,000. Finally, Slocum Gordon & Co LLP bought a new stake in shares of NVIDIA in the 1st quarter valued at about $98,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

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.