NVIDIA (NASDAQ:NVDA) Stock Price Expected to Rise, Evercore ISI Analyst Says

NVIDIA (NASDAQ:NVDA) had its price objective upped by equities researchers at Evercore ISI from $189.00 to $190.00 in a report released on Thursday, Marketbeat.com reports. The firm presently has an “outperform” rating on the computer hardware maker’s stock. Evercore ISI’s target price indicates a potential upside of 30.24% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. HSBC increased their price objective on shares of NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Wells Fargo & Company increased their target price on shares of NVIDIA from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Truist Financial increased their target price on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday. Westpark Capital increased their target price on shares of NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Loop Capital reaffirmed a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.15.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $145.89 on Thursday. NVIDIA has a 52-week low of $45.01 and a 52-week high of $149.77. The company has a market cap of $3.58 trillion, a P/E ratio of 68.43, a P/E/G ratio of 1.54 and a beta of 1.66. The firm’s fifty day moving average is $133.00 and its two-hundred day moving average is $121.54. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.79 and a current ratio of 4.27.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 EPS. As a group, analysts anticipate that NVIDIA will post 2.68 EPS for the current fiscal year.

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

Insider Activity at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $110.76, for a total transaction of $13,291,200.00. Following the completion of the transaction, the chief executive officer now owns 76,375,705 shares in the company, valued at $8,459,373,085.80. The trade was a 0.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares of the company’s stock, valued at $698,025,289.60. This represents a 14.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,156,270 shares of company stock worth $254,784,327. Corporate insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Several institutional investors have recently modified their holdings of NVDA. University of Texas Texas AM Investment Management Co. raised its position in NVIDIA by 897.5% in the 2nd 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 purchasing an additional 107,169 shares during the last quarter. Truepoint Inc. raised its position in NVIDIA by 914.1% in the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock valued at $1,605,000 after purchasing an additional 11,709 shares during the last quarter. Westwood Holdings Group Inc. raised its position 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 purchasing an additional 208,362 shares during the last quarter. Legal & General Group Plc raised its position in NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after purchasing an additional 191,469,114 shares during the last quarter. Finally, Lombard Odier Asset Management Europe Ltd raised its position in NVIDIA by 1,106.0% in the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 532,285 shares of the computer hardware maker’s stock valued at $65,758,000 after purchasing an additional 488,148 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

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.