NVIDIA (NASDAQ:NVDA) Price Target Raised to $1,150.00 at UBS Group

NVIDIA (NASDAQ:NVDA) had its price objective lifted by analysts at UBS Group from $1,100.00 to $1,150.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the computer hardware maker’s stock. UBS Group’s target price would suggest a potential upside of 31.87% from the stock’s current price.

NVDA has been the subject of a number of other reports. Benchmark reissued a “buy” rating and set a $1,000.00 price target on shares of NVIDIA in a research report on Wednesday, March 20th. Tigress Financial increased their target price on NVIDIA from $790.00 to $985.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Sanford C. Bernstein increased their price target on shares of NVIDIA from $700.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. HSBC increased their price objective on NVIDIA from $880.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, Jefferies Financial Group lifted their price target on shares of NVIDIA from $610.00 to $780.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $941.55.

NVIDIA Stock Performance

NVIDIA stock traded down $5.49 during midday trading on Tuesday, reaching $872.08. 14,687,034 shares of the company traded hands, compared to its average volume of 51,535,918. NVIDIA has a 12 month low of $272.40 and a 12 month high of $974.00. The firm has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 73.41, a price-to-earnings-growth ratio of 1.26 and a beta of 1.73. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67. The business has a 50 day moving average of $857.43 and a two-hundred day moving average of $640.64.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same period last year, the company posted $0.65 earnings per share. NVIDIA’s quarterly revenue was up 265.3% on a year-over-year basis. As a group, research analysts predict that NVIDIA will post 22.55 earnings per share for the current year.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the completion of the transaction, the director now owns 1,124,583 shares in the company, valued at approximately $896,933,663.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Mark A. Stevens sold 5,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the sale, the director now owns 1,119,583 shares in the company, valued at approximately $896,494,891.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 10,000 shares of NVIDIA stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $797.57, for a total value of $7,975,700.00. Following the completion of the sale, the director now owns 1,124,583 shares of the company’s stock, 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 over the last ninety days. Insiders own 3.99% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently modified their holdings of the company. LFA Lugano Financial Advisors SA bought a new stake in NVIDIA during the fourth quarter worth $28,000. Criterion Capital Advisors LLC bought a new position in NVIDIA during the fourth quarter valued at about $28,000. Your Advocates Ltd. LLP bought a new stake in NVIDIA in the third quarter worth about $30,000. Able Wealth Management LLC purchased a new position in NVIDIA in the fourth quarter valued at about $32,000. Finally, Trivant Custom Portfolio Group LLC grew its position in shares of NVIDIA by 44.1% during the 3rd quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock valued at $43,000 after acquiring an additional 30 shares during the period. Institutional investors own 65.27% of the company’s stock.

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.