Royal Bank Of Canada Reiterates “Buy” Rating for NVIDIA (NASDAQ:NVDA)

NVIDIA (NASDAQ:NVDAGet Free Report)‘s stock had its “buy” rating reiterated by investment analysts at Royal Bank Of Canada in a research note issued on Wednesday,MarketScreener reports.

A number of other research firms have also recently commented on NVDA. Barclays increased their target price on NVIDIA from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. Bank of America reiterated a “buy” rating and set a $275.00 price objective on shares of NVIDIA in a research report on Friday, December 26th. Tigress Financial restated a “strong-buy” rating and issued a $350.00 target price (up previously from $280.00) on shares of NVIDIA in a research report on Thursday, December 18th. Arete Research upped their price objective on shares of NVIDIA from $244.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Finally, BNP Paribas Exane increased their target price on shares of NVIDIA from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, November 18th. Four research analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $264.20.

Read Our Latest Report on NVIDIA

NVIDIA Stock Performance

Shares of NASDAQ:NVDA traded up $4.34 during midday trading on Wednesday, reaching $189.31. 24,397,170 shares of the company traded hands, compared to its average volume of 166,027,281. The firm’s fifty day moving average price is $184.67 and its two-hundred day moving average price is $183.46. The firm has a market capitalization of $4.60 trillion, a price-to-earnings ratio of 46.99, a price-to-earnings-growth ratio of 0.56 and a beta of 2.31. The company has a quick ratio of 3.71, a current ratio of 4.47 and a debt-to-equity ratio of 0.06. NVIDIA has a 12 month low of $86.62 and a 12 month high of $212.19.

NVIDIA (NASDAQ:NVDAGet Free Report) last released its quarterly earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.07. NVIDIA had a net margin of 53.01% and a return on equity of 99.24%. The firm had revenue of $57.01 billion for the quarter, compared to analysts’ expectations of $54.66 billion. During the same quarter in the prior year, the firm posted $0.81 earnings per share. The business’s quarterly revenue was up 62.5% on a year-over-year basis. On average, equities analysts expect that NVIDIA will post 2.77 earnings per share for the current year.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Harvey C. Jones sold 250,000 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $177.33, for a total value of $44,332,500.00. Following the completion of the transaction, the director directly owned 6,933,280 shares in the company, valued at approximately $1,229,478,542.40. This represents a 3.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Debora Shoquist sold 80,000 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $178.90, for a total transaction of $14,312,000.00. Following the completion of the sale, the executive vice president directly owned 1,494,443 shares of the company’s stock, valued at approximately $267,355,852.70. This represents a 5.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 1,611,474 shares of company stock worth $291,731,692. 4.17% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NVDA. Harbor Asset Planning Inc. purchased a new position in NVIDIA during the 2nd quarter valued at about $28,000. Winnow Wealth LLC bought a new position in shares of NVIDIA during the second quarter valued at approximately $32,000. Longfellow Investment Management Co. LLC lifted its holdings in shares of NVIDIA by 47.9% during the second quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock valued at $33,000 after purchasing an additional 67 shares during the last quarter. Spurstone Advisory Services LLC bought a new stake in shares of NVIDIA in the 2nd quarter worth approximately $40,000. Finally, AlphaCentric Advisors LLC bought a new stake in shares of NVIDIA in the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

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NVIDIA Company Profile

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NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

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