NVIDIA's (NVDA) Outperform Rating Reiterated at Wedbush

NVIDIA (NASDAQ:NVDA - Get Free Report)'s stock had its "outperform" rating reissued by analysts at Wedbush in a research report issued on Thursday,RTT News reports. They presently have a $175.00 target price on the computer hardware maker's stock. Wedbush's target price indicates a potential upside of 30.25% from the company's current price.

NVDA has been the topic of several other reports. TD Cowen lifted their price objective on NVIDIA from $165.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, November 21st. Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a research note on Monday, January 27th. Melius Research raised their target price on shares of NVIDIA from $165.00 to $185.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Robert W. Baird raised their target price on shares of NVIDIA from $150.00 to $190.00 and gave the stock an "outperform" rating in a research note on Thursday, November 21st. Finally, Loop Capital reissued a "buy" rating and issued a $175.00 target price on shares of NVIDIA in a research note on Wednesday, November 20th. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA presently has an average rating of "Moderate Buy" and an average target price of $168.21.

NVIDIA Price Performance

NVDA stock traded down $5.76 during trading on Thursday, hitting $134.35. The stock had a trading volume of 226,998,737 shares, compared to its average volume of 265,515,719. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA has a twelve month low of $74.22 and a twelve month high of $153.13. The stock has a market capitalization of $3.29 trillion, a P/E ratio of 52.87, a PEG ratio of 1.75 and a beta of 1.62. The company's 50-day moving average price is $134.66 and its two-hundred day moving average price is $130.91.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion for the quarter, compared to analysts' expectations of $33.15 billion. During the same period in the previous year, the firm posted $0.38 EPS. NVIDIA's revenue was up 93.6% compared to the same quarter last year. As a group, research analysts predict that NVIDIA will post 2.77 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director John Dabiri sold 716 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the business's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares of the company's stock, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock worth $146,506,958 over the last 90 days. Corporate insiders own 4.23% of the company's stock.

Hedge Funds Weigh In On NVIDIA

Institutional investors and hedge funds have recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. lifted its position in NVIDIA by 897.5% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker's stock valued at $14,715,000 after acquiring an additional 107,169 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in NVIDIA by 683.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker's stock valued at $29,505,000 after buying an additional 208,362 shares during the period. Palisade Asset Management LLC increased its stake in NVIDIA by 0.5% in the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker's stock valued at $1,866,000 after buying an additional 75 shares during the period. Blue Square Asset Management LLC grew its stake in shares of NVIDIA by 26.7% during the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker's stock worth $5,840,000 after purchasing an additional 10,136 shares during the period. Finally, Narwhal Capital Management grew its stake in shares of NVIDIA by 5.1% during the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker's stock worth $66,267,000 after purchasing an additional 26,373 shares during the period. Institutional investors and hedge funds 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.