NVIDIA’s (NVDA) “Buy” Rating Reiterated at Wedbush

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating reissued by equities research analysts at Wedbush in a research note issued to investors on Friday, Stock Target Advisor reports. They currently have a $243.00 target price on the computer hardware maker’s stock. Wedbush’s price target would suggest a potential upside of 19.01% from the stock’s current price.

NVDA has been the subject of a number of other reports. Wells Fargo & Co increased their price objective on shares of NVIDIA from $220.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday. Cascend Securities increased their price objective on shares of NVIDIA from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Piper Jaffray Companies increased their price objective on shares of NVIDIA from $200.00 to $230.00 and gave the stock a “positive” rating in a research note on Friday. BidaskClub cut shares of NVIDIA from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Bank of America raised their target price on shares of NVIDIA from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $216.69.

Shares of NASDAQ NVDA traded down $5.60 during midday trading on Friday, hitting $204.19. The stock had a trading volume of 26,297,200 shares, compared to its average volume of 7,343,198. The business’s 50 day moving average is $193.51 and its 200-day moving average is $170.40. The company has a quick ratio of 7.74, a current ratio of 8.65 and a debt-to-equity ratio of 0.24. The company has a market cap of $127.76 billion, a P/E ratio of 33.64, a PEG ratio of 5.39 and a beta of 2.06. NVIDIA has a 52 week low of $124.46 and a 52 week high of $211.86.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, November 14th. The computer hardware maker reported $1.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.21. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.92 billion. NVIDIA had a net margin of 24.08% and a return on equity of 22.82%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.84 earnings per share. As a group, analysts expect that NVIDIA will post 4.07 EPS for the current fiscal year.

In other NVIDIA news, CFO Colette Kress sold 31,357 shares of NVIDIA stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $179.01, for a total value of $5,613,216.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Persis Drell sold 165 shares of NVIDIA stock in a transaction on Monday, September 16th. The stock was sold at an average price of $180.45, for a total transaction of $29,774.25. Following the completion of the transaction, the director now directly owns 18,019 shares of the company’s stock, valued at $3,251,528.55. The disclosure for this sale can be found here. Insiders sold a total of 66,383 shares of company stock valued at $11,625,217 over the last three months. Corporate insiders own 4.64% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Pacific Center for Financial Services lifted its holdings in shares of NVIDIA by 143.1% in the 2nd quarter. Pacific Center for Financial Services now owns 158 shares of the computer hardware maker’s stock worth $26,000 after acquiring an additional 93 shares during the last quarter. LLBH Private Wealth Management LLC bought a new stake in shares of NVIDIA in the 2nd quarter worth about $27,000. Marquette Asset Management LLC lifted its holdings in shares of NVIDIA by 416.7% in the 3rd quarter. Marquette Asset Management LLC now owns 155 shares of the computer hardware maker’s stock worth $27,000 after acquiring an additional 125 shares during the last quarter. Field & Main Bank bought a new stake in shares of NVIDIA in the 2nd quarter worth about $33,000. Finally, Investors Research Corp lifted its holdings in shares of NVIDIA by 313.0% in the 3rd quarter. Investors Research Corp now owns 190 shares of the computer hardware maker’s stock worth $33,000 after acquiring an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 64.51% of the company’s stock.

About NVIDIA

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.

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Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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