Piper Sandler Raises NVIDIA (NASDAQ:NVDA) Price Target to $1,200.00

NVIDIA (NASDAQ:NVDA) had its price target hoisted by investment analysts at Piper Sandler from $1,050.00 to $1,200.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the computer hardware maker’s stock. Piper Sandler’s price objective would suggest a potential upside of 26.38% from the company’s current price.

A number of other equities research analysts have also commented on the company. Loop Capital started coverage on NVIDIA in a research report on Friday, February 16th. They issued a “buy” rating and a $1,200.00 price target for the company. HSBC increased their price target on NVIDIA from $1,050.00 to $1,350.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Rosenblatt Securities reissued a “buy” rating and issued a $1,400.00 price target on shares of NVIDIA in a research report on Monday. UBS Group increased their price target on NVIDIA from $1,100.00 to $1,150.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, Jefferies Financial Group started coverage on NVIDIA in a research note on Monday, May 13th. They issued a “buy” rating and a $1,200.00 price objective for the company. Four analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,042.18.

NVIDIA Trading Down 0.5 %

NASDAQ NVDA opened at $949.50 on Thursday. The company has a market cap of $2.34 trillion, a price-to-earnings ratio of 79.52, a P/E/G ratio of 1.33 and a beta of 1.75. NVIDIA has a 52 week low of $298.06 and a 52 week high of $974.00. The business has a 50 day moving average price of $886.29 and a 200-day moving average price of $696.36. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, May 22nd. The computer hardware maker reported $6.12 EPS for the quarter, beating the consensus estimate of $5.14 by $0.98. The firm had revenue of $26.04 billion during the quarter, compared to the consensus estimate of $24.59 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The company’s quarterly revenue was up 262.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.88 earnings per share. As a group, equities analysts expect that NVIDIA will post 23.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the sale, the director now directly owns 1,052,133 shares in the company, valued at approximately $925,845,476.01. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the sale, the director now directly owns 1,052,133 shares in the company, valued at $925,845,476.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $797.57, for a total value of $7,975,700.00. Following 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 a total of 61,278 shares of company stock worth $52,689,898 in the last ninety days. 4.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Baader Bank Aktiengesellschaft raised its stake in NVIDIA by 34.9% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 44,214 shares of the computer hardware maker’s stock valued at $21,896,000 after buying an additional 11,445 shares during the last quarter. Wealthspire Advisors LLC raised its stake in shares of NVIDIA by 16.3% in the fourth quarter. Wealthspire Advisors LLC now owns 12,278 shares of the computer hardware maker’s stock worth $6,080,000 after purchasing an additional 1,724 shares during the last quarter. Shared Vision Wealth Group LLC purchased a new position in shares of NVIDIA in the fourth quarter worth $269,000. Grand Alliance Asset Management Ltd purchased a new position in shares of NVIDIA in the fourth quarter worth $29,961,000. Finally, TrueMark Investments LLC purchased a new position in shares of NVIDIA in the fourth quarter worth $2,639,000. Hedge funds and other 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.