NVIDIA (NASDAQ:NVDA) Earns Outperform Rating from Analysts at Evercore ISI

Equities researchers at Evercore ISI started coverage on shares of NVIDIA (NASDAQ:NVDA) in a research note issued on Tuesday, Benzinga reports. The brokerage set an “outperform” rating and a $1,160.00 price target on the computer hardware maker’s stock. Evercore ISI’s target price indicates a potential upside of 34.88% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. DA Davidson upped their price target on shares of NVIDIA from $410.00 to $620.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Mizuho upped their price target on shares of NVIDIA from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Piper Sandler Companies upped their price target on shares of NVIDIA to $850.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Wolfe Research upped their price target on shares of NVIDIA from $630.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Finally, CICC Research initiated coverage on shares of NVIDIA in a research report on Wednesday, March 6th. They issued an “outperform” rating and a $870.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $940.30.

NVIDIA Trading Down 2.5 %

Shares of NASDAQ:NVDA opened at $860.01 on Tuesday. The stock has a market capitalization of $2.15 trillion, a price-to-earnings ratio of 72.03, a PEG ratio of 1.27 and a beta of 1.73. NVIDIA has a 1-year low of $262.25 and a 1-year high of $974.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. The company has a 50 day moving average price of $834.27 and a 200 day moving average price of $613.81.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. The firm had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The firm’s revenue for the quarter was up 265.3% compared to the same quarter last year. During the same period last year, the firm posted $0.65 earnings per share. On average, research analysts anticipate that NVIDIA will post 22.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 5,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $800.74, for a total value of $4,003,700.00. Following the sale, the director now directly owns 1,119,583 shares in the company, valued at approximately $896,494,891.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 5,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $800.74, for a total value of $4,003,700.00. Following the sale, the director now directly owns 1,119,583 shares in the company, valued at approximately $896,494,891.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 10,000 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the completion of the sale, the director now owns 1,124,583 shares in the company, valued at $896,933,663.31. The disclosure for this sale can be found here. Insiders have sold 61,278 shares of company stock worth $52,689,898 in the last ninety days. Insiders own 3.99% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Hedge funds and other institutional investors have recently made changes to their positions in the business. Moody Lynn & Lieberson LLC lifted its holdings in shares of NVIDIA by 7.2% during the 3rd quarter. Moody Lynn & Lieberson LLC now owns 89,053 shares of the computer hardware maker’s stock worth $38,737,000 after acquiring an additional 5,998 shares during the period. TrueMark Investments LLC bought a new position in NVIDIA during the 4th quarter valued at about $2,639,000. McLean Asset Management Corp lifted its holdings in NVIDIA by 11.7% during the 4th quarter. McLean Asset Management Corp now owns 1,773 shares of the computer hardware maker’s stock valued at $871,000 after purchasing an additional 186 shares during the last quarter. Shilanski & Associates Inc. lifted its holdings in NVIDIA by 15.9% during the 4th quarter. Shilanski & Associates Inc. now owns 2,983 shares of the computer hardware maker’s stock valued at $1,477,000 after purchasing an additional 410 shares during the last quarter. Finally, WealthPLAN Partners LLC lifted its holdings in NVIDIA by 14.3% during the 4th quarter. WealthPLAN Partners LLC now owns 7,938 shares of the computer hardware maker’s stock valued at $3,931,000 after purchasing an additional 996 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

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.