NVIDIA (NASDAQ:NVDA) Earns Outperform Rating from William Blair

NVIDIA (NASDAQ:NVDA)‘s stock had its “outperform” rating reaffirmed by research analysts at William Blair in a note issued to investors on Thursday,RTT News reports.

Other research analysts have also issued reports about the company. Bank of America reissued a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research report on Wednesday. Rosenblatt Securities reiterated a “buy” rating and issued a $220.00 target price on shares of NVIDIA in a report on Wednesday. Robert W. Baird raised their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. TD Cowen boosted their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, HSBC decreased their price target on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $171.76.

NVIDIA Trading Up 1.4 %

Shares of NVIDIA stock traded up $1.70 during midday trading on Thursday, reaching $119.22. The company had a trading volume of 107,295,959 shares, compared to its average volume of 283,166,063. The stock has a fifty day moving average price of $127.71 and a 200 day moving average price of $131.12. NVIDIA has a fifty-two week low of $75.61 and a fifty-two week high of $153.13. The firm has a market cap of $2.91 trillion, a PE ratio of 46.91, a P/E/G ratio of 1.76 and a beta of 1.77. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. On average, equities analysts anticipate that NVIDIA will post 2.77 earnings per share for the current year.

Insider Transactions at NVIDIA

In related news, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Dabiri sold 2,663 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the sale, the director now owns 17,279 shares in the company, valued at approximately $1,900,690. This represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,449 shares of company stock worth $11,960,727 over the last quarter. Corporate insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Palisade Asset Management LLC lifted its stake in NVIDIA by 0.5% in the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after purchasing an additional 75 shares in the last quarter. SMART Wealth LLC grew its position in NVIDIA by 289.5% during the fourth quarter. SMART Wealth LLC now owns 72,311 shares of the computer hardware maker’s stock worth $9,711,000 after buying an additional 53,747 shares in the last quarter. Blue Square Asset Management LLC grew its position in NVIDIA by 26.7% during the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after buying an additional 10,136 shares in the last quarter. Narwhal Capital Management increased its stake in NVIDIA by 5.1% in the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after acquiring an additional 26,373 shares during the last quarter. Finally, Tybourne Capital Management HK Ltd. raised its holdings in shares of NVIDIA by 46.7% in the 3rd quarter. Tybourne Capital Management HK Ltd. now owns 16,826 shares of the computer hardware maker’s stock valued at $2,043,000 after acquiring an additional 5,360 shares in the last quarter. 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.