Barclays Forecasts Strong Price Appreciation for NVIDIA (NASDAQ:NVDA) Stock

NVIDIA (NASDAQ:NVDA) had its price objective increased by analysts at Barclays from $145.00 to $160.00 in a report issued on Thursday, MarketBeat reports. The firm currently has an “overweight” rating on the computer hardware maker’s stock. Barclays‘s price objective indicates a potential upside of 12.72% from the stock’s previous close.

NVDA has been the subject of several other reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $100.00 price objective on shares of NVIDIA in a research note on Monday, August 5th. Morgan Stanley lifted their price target on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Evercore ISI raised their price objective on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday. Raymond James boosted their target price on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 14th. Finally, Westpark Capital raised their price target on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $141.95 on Thursday. The firm has a market cap of $3.48 trillion, a P/E ratio of 66.58, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. The firm’s 50-day simple moving average is $134.01 and its 200-day simple moving average is $122.06. NVIDIA has a twelve month low of $45.01 and a twelve month high of $152.89. 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 released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share 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 company had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the previous year, the business earned $0.38 earnings per share. The company’s quarterly revenue was up 93.6% on a year-over-year basis. As a group, research analysts expect that NVIDIA will post 2.68 EPS for the current fiscal year.

NVIDIA announced that its Board of Directors has approved a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at NVIDIA

In other NVIDIA news, 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 value of $119,270,000.00. Following the sale, the director now owns 5,852,480 shares in the company, valued at approximately $698,025,289.60. The trade was a 14.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jen Hsun Huang sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $105.33, for a total transaction of $12,639,600.00. Following the transaction, the chief executive officer now directly owns 75,895,836 shares of the company’s stock, valued at $7,994,108,405.88. This represents a 0.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,156,270 shares of company stock valued at $254,784,327. 4.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

A number of large investors have recently modified their holdings of NVDA. Hamilton Wealth LLC boosted its position in NVIDIA by 0.3% during the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after purchasing an additional 9 shares during the last quarter. Poehling Capital Management INC. boosted its holdings in shares of NVIDIA by 0.9% in the 1st quarter. Poehling Capital Management INC. now owns 1,596 shares of the computer hardware maker’s stock valued at $1,442,000 after buying an additional 14 shares during the last quarter. FSA Wealth Management LLC grew its stake in shares of NVIDIA by 3.0% in the first quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock valued at $439,000 after buying an additional 14 shares in the last quarter. Clean Yield Group increased its holdings in NVIDIA by 0.8% during the first quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker’s stock worth $1,622,000 after buying an additional 15 shares during the last quarter. Finally, Bell Investment Advisors Inc raised its position in NVIDIA by 1.3% during the first quarter. Bell Investment Advisors Inc now owns 1,208 shares of the computer hardware maker’s stock worth $1,092,000 after acquiring an additional 16 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

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.