NVIDIA (NASDAQ:NVDA) Given New $1,310.00 Price Target at Evercore ISI

NVIDIA (NASDAQ:NVDA) had its price target raised by stock analysts at Evercore ISI from $1,160.00 to $1,310.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the computer hardware maker’s stock. Evercore ISI’s target price suggests a potential upside of 37.97% from the stock’s previous close.

NVDA has been the topic of a number of other reports. Robert W. Baird upped their price target on shares of NVIDIA from $1,050.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Monday. CICC Research assumed coverage on shares of NVIDIA in a report on Wednesday, March 6th. They set an “outperform” rating and a $870.00 target price on the stock. Jefferies Financial Group assumed coverage on shares of NVIDIA in a report on Monday, May 13th. They set a “buy” rating and a $1,200.00 target price on the stock. The Goldman Sachs Group upped their target price on shares of NVIDIA from $1,000.00 to $1,100.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Finally, Raymond James upped their target price on shares of NVIDIA from $850.00 to $1,100.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,042.18.

NVIDIA Stock Down 0.5 %

NVDA opened at $949.50 on Thursday. NVIDIA has a fifty-two week low of $298.06 and a fifty-two week high of $974.00. 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 company’s 50-day moving average is $886.29 and its 200 day moving average is $696.36. The firm has a market capitalization of $2.34 trillion, a P/E ratio of 79.52, a PEG ratio of 1.33 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share for the quarter, beating analysts’ consensus estimates of $5.14 by $0.98. The firm had revenue of $26.04 billion for the quarter, compared to analysts’ expectations of $24.59 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company’s quarterly revenue was up 262.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.88 earnings per share. Research analysts expect that NVIDIA will post 23.18 earnings per share for the current fiscal 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 dated 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 sale, the director now directly 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 other news, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the sale, the director now directly owns 1,052,133 shares in the company, valued at $925,845,476.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction 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 sold a total of 61,278 shares of company stock valued at $52,689,898 in the last three months. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Large investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of NVIDIA in the fourth quarter worth approximately $14,606,369,000. International Assets Investment Management LLC boosted its holdings in shares of NVIDIA by 54,019.5% in the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock worth $8,352,811,000 after buying an additional 16,835,703 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of NVIDIA by 4.3% in the first quarter. Vanguard Group Inc. now owns 213,335,626 shares of the computer hardware maker’s stock worth $192,761,538,000 after buying an additional 8,828,050 shares during the last quarter. Global Assets Advisory LLC purchased a new position in shares of NVIDIA in the first quarter worth approximately $4,826,280,000. Finally, Swedbank AB purchased a new position in shares of NVIDIA in the first quarter worth approximately $3,922,733,000. 65.27% of the stock is currently 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.