NVIDIA (NASDAQ:NVDA) Price Target Raised to $165.00 at The Goldman Sachs Group

NVIDIA (NASDAQ:NVDA) had its price objective upped by stock analysts at The Goldman Sachs Group from $150.00 to $165.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the computer hardware maker’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 13.10% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird increased their price objective on shares of NVIDIA from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Sanford C. Bernstein increased their price target on shares of NVIDIA from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Mizuho boosted their price objective on shares of NVIDIA from $140.00 to $165.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Stifel Nicolaus raised their target price on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Craig Hallum lifted their price target on NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $155.82.

NVIDIA Stock Down 0.8 %

NASDAQ NVDA opened at $145.89 on Thursday. 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 cap of $3.58 trillion, a price-to-earnings ratio of 68.43, a PEG ratio of 1.54 and a beta of 1.66. The company has a 50 day moving average of $133.00 and a 200-day moving average of $121.54. NVIDIA has a 1-year low of $45.01 and a 1-year high of $149.77.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 113.50% and a net margin of 55.04%. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.38 EPS. On average, equities research analysts expect that NVIDIA will post 2.68 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 28th that allows the company to repurchase $50.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total value of $119,270,000.00. Following the completion of the sale, the director now directly owns 5,852,480 shares of the company’s stock, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 155,000 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the transaction, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,156,270 shares of company stock worth $254,784,327. Corporate insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NVDA. Morse Asset Management Inc grew its stake in NVIDIA by 0.7% in the third quarter. Morse Asset Management Inc now owns 202,054 shares of the computer hardware maker’s stock valued at $24,537,000 after acquiring an additional 1,374 shares during the period. Diamant Asset Management Inc. bought a new position in shares of NVIDIA in the 3rd quarter worth $247,000. Advisory Resource Group lifted its holdings in shares of NVIDIA by 6.1% in the 3rd quarter. Advisory Resource Group now owns 17,620 shares of the computer hardware maker’s stock worth $2,140,000 after purchasing an additional 1,016 shares in the last quarter. McIlrath & Eck LLC grew its position in NVIDIA by 18.7% in the 3rd quarter. McIlrath & Eck LLC now owns 20,365 shares of the computer hardware maker’s stock valued at $2,473,000 after purchasing an additional 3,214 shares during the period. Finally, Discipline Wealth Solutions LLC bought a new stake in NVIDIA during the 3rd quarter valued at $792,000. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Company Profile

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.