Sanford C. Bernstein Reiterates “Buy” Rating for NVIDIA (NASDAQ:NVDA)

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating reiterated by equities research analysts at Sanford C. Bernstein in a report issued on Tuesday,MarketScreener reports.

A number of other equities analysts also recently weighed in on the stock. President Capital lifted their target price on shares of NVIDIA from $240.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price objective on shares of NVIDIA in a research note on Thursday, November 20th. Hsbc Global Res raised NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. TD Cowen boosted their price target on NVIDIA from $140.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, August 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $240.00 price objective on shares of NVIDIA in a research report on Thursday, November 20th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $258.65.

NVIDIA Price Performance

NVDA stock opened at $185.16 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.71 and a current ratio of 4.47. NVIDIA has a 52-week low of $86.62 and a 52-week high of $212.19. The company has a market capitalization of $4.50 trillion, a P/E ratio of 45.95, a PEG ratio of 0.90 and a beta of 2.29. The company has a fifty day moving average price of $187.20 and a 200-day moving average price of $172.73.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.07. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.The company had revenue of $57.01 billion during the quarter, compared to the consensus estimate of $54.66 billion. During the same period last year, the company earned $0.81 earnings per share. The firm’s revenue was up 62.5% compared to the same quarter last year. As a group, equities analysts expect that NVIDIA will post 2.77 EPS for the current year.

Insider Transactions at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the company’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $176.42, for a total value of $13,231,500.00. Following the completion of the transaction, the chief executive officer owned 71,683,203 shares in the company, valued at $12,646,350,673.26. This represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 350,000 shares of NVIDIA stock in a transaction on Friday, September 19th. The stock was sold at an average price of $176.39, for a total value of $61,736,500.00. Following the sale, the director owned 7,399,803 shares in the company, valued at $1,305,251,251.17. The trade was a 4.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,874,931 shares of company stock worth $518,877,705 in the last 90 days. Insiders own 4.17% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NVDA. Harbor Asset Planning Inc. purchased a new position in NVIDIA in the second quarter worth about $28,000. Winnow Wealth LLC purchased a new stake in NVIDIA during the second quarter valued at approximately $32,000. Longfellow Investment Management Co. LLC raised its position in NVIDIA by 47.9% in the second quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock worth $33,000 after acquiring an additional 67 shares during the period. Spurstone Advisory Services LLC bought a new stake in shares of NVIDIA during the 2nd quarter valued at $40,000. Finally, Kathleen S. Wright Associates Inc. increased its stake in shares of NVIDIA by 169.3% in the 1st quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker’s stock worth $44,000 after purchasing an additional 254 shares in 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.