NVIDIA (NASDAQ:NVDA) Stock Price Expected to Rise, Truist Financial Analyst Says

NVIDIA (NASDAQ:NVDA) had its price target lifted by equities research analysts at Truist Financial from $204.00 to $205.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the computer hardware maker’s stock. Truist Financial’s price target would indicate a potential upside of 60.36% from the company’s previous close.

Several other brokerages also recently commented on NVDA. UBS Group increased their price objective on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Thursday, November 21st. Robert W. Baird increased their target price on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Wells Fargo & Company upped their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Finally, Melius Research raised their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Five analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $169.62.

NVIDIA Price Performance

NVIDIA stock opened at $127.84 on Thursday. The stock’s 50 day moving average price is $134.60 and its two-hundred day moving average price is $131.89. The stock has a market capitalization of $3.13 trillion, a price-to-earnings ratio of 50.31, a PEG ratio of 1.76 and a beta of 1.62. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA has a 52-week low of $75.61 and a 52-week high of $153.13.

Insider Buying and Selling

In other news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value 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 trade represents a 1.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the sale, the insider now directly owns 480,899 shares of the company’s stock, valued at $65,056,016.72. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,107,632 shares of company stock worth $146,405,286. 4.23% of the stock is owned by insiders.

Hedge Funds Weigh In On NVIDIA

Several institutional investors have recently made changes to their positions in the business. Palisade Asset Management LLC increased its stake in shares of NVIDIA by 0.5% in the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after purchasing an additional 75 shares in the last quarter. Blue Square Asset Management LLC increased its position in NVIDIA by 26.7% in the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after buying an additional 10,136 shares in the last quarter. Narwhal Capital Management raised its stake in shares of NVIDIA by 5.1% in the third quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after buying an additional 26,373 shares during the period. Unique Wealth LLC grew its stake in shares of NVIDIA by 10.0% during the 4th quarter. Unique Wealth LLC now owns 37,629 shares of the computer hardware maker’s stock valued at $5,053,000 after acquiring an additional 3,428 shares during the period. Finally, Tybourne Capital Management HK Ltd. increased its holdings in NVIDIA by 46.7% in the 3rd quarter. Tybourne Capital Management HK Ltd. now owns 16,826 shares of the computer hardware maker’s stock worth $2,043,000 after acquiring an additional 5,360 shares in the last quarter. 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.