NVIDIA (NASDAQ:NVDA) Stock Price Expected to Rise, Bank of America Analyst Says

NVIDIA (NASDAQ:NVDA) had its target price hoisted by analysts at Bank of America from $190.00 to $200.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the computer hardware maker’s stock. Bank of America‘s price objective indicates a potential upside of 52.35% from the stock’s previous close.

A number of other research firms have also commented on NVDA. Deutsche Bank Aktiengesellschaft boosted their price objective on NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. Morgan Stanley restated an “overweight” rating and set a $162.00 target price (up previously from $152.00) on shares of NVIDIA in a research report on Wednesday. Needham & Company LLC boosted their target price on NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Wells Fargo & Company boosted their target price on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, Wedbush restated an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research report on Thursday, February 20th. Five investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $168.70.

NVIDIA Price Performance

NVIDIA stock opened at $131.28 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm has a market cap of $3.22 trillion, a P/E ratio of 51.66, a P/E/G ratio of 1.76 and a beta of 1.62. The business’s fifty day moving average is $134.60 and its two-hundred day moving average is $131.89. NVIDIA has a 52 week low of $75.61 and a 52 week high of $153.13.

Insider Buying and Selling at NVIDIA

In other news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were 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 directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This trade represents a 0.93 % 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 this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the transaction, the chief financial officer now directly owns 3,351,572 shares in the company, valued at $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,107,632 shares of company stock valued at $146,405,286 in the last three months. 4.23% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. XY Planning Network Inc. bought a new position in NVIDIA in the fourth quarter valued at approximately $1,679,000. HWG Holdings LP increased its stake in NVIDIA by 45.1% in the fourth quarter. HWG Holdings LP now owns 89,672 shares of the computer hardware maker’s stock valued at $12,042,000 after acquiring an additional 27,852 shares during the last quarter. LifeWealth Investments LLC bought a new position in NVIDIA in the fourth quarter valued at approximately $3,182,000. Capital A Wealth Management LLC bought a new position in NVIDIA in the fourth quarter valued at approximately $1,226,000. Finally, Financial Advisory Corp bought a new position in NVIDIA in the fourth quarter valued at approximately $371,000. 65.27% of the stock is owned by 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.