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

NVIDIA Corporation (NASDAQ:NVDA)‘s stock had its “buy” rating reiterated by research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Friday.

A number of other analysts have also recently commented on the stock. Canaccord Genuity increased their price target on shares of NVIDIA from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, November 17th. B. Riley reiterated a “buy” rating and issued a $270.00 price target on shares of NVIDIA in a research note on Tuesday, November 14th. BMO Capital Markets upgraded shares of NVIDIA from an “underperform” rating to a “market perform” rating and cut their price target for the company from $218.67 to $216.14 in a research note on Monday, November 13th. MKM Partners increased their price target on shares of NVIDIA and gave the company a “neutral” rating in a research note on Friday, November 10th. Finally, Raymond James Financial, Inc. increased their price target on shares of NVIDIA and gave the company an “outperform” rating in a research note on Friday, November 10th. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $186.85.

NVIDIA (NVDA) traded down $2.43 during trading on Friday, reaching $214.53. 6,457,020 shares of the company were exchanged, compared to its average volume of 17,498,582. The company has a market capitalization of $131,477.77, a P/E ratio of 53.44, a P/E/G ratio of 4.70 and a beta of 1.23. NVIDIA has a 1-year low of $84.77 and a 1-year high of $218.67. The company has a current ratio of 8.26, a quick ratio of 7.42 and a debt-to-equity ratio of 0.31.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.39. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.36 billion. NVIDIA had a net margin of 31.79% and a return on equity of 54.54%. The firm’s revenue for the quarter was up 31.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 earnings per share. analysts predict that NVIDIA will post 4.13 earnings per share for the current fiscal year.

In related news, Director Tench Coxe sold 50,000 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $189.62, for a total transaction of $9,481,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director A Brooke Seawell sold 30,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $170.19, for a total transaction of $5,105,700.00. Following the transaction, the director now owns 16,507 shares in the company, valued at approximately $2,809,326.33. The disclosure for this sale can be found here. Insiders sold a total of 452,532 shares of company stock worth $82,218,204 in the last 90 days. Corporate insiders own 5.82% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Cibc World Markets Corp increased its stake in NVIDIA by 12.1% during the 2nd quarter. Cibc World Markets Corp now owns 128,316 shares of the computer hardware maker’s stock valued at $18,549,000 after purchasing an additional 13,802 shares in the last quarter. Meiji Yasuda Life Insurance Co increased its stake in NVIDIA by 9.9% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 11,070 shares of the computer hardware maker’s stock valued at $1,600,000 after purchasing an additional 1,000 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in NVIDIA by 17.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 18,786 shares of the computer hardware maker’s stock valued at $2,715,000 after purchasing an additional 2,836 shares in the last quarter. Girard Partners LTD. increased its stake in NVIDIA by 7.7% during the 2nd quarter. Girard Partners LTD. now owns 3,102 shares of the computer hardware maker’s stock valued at $448,000 after purchasing an additional 221 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in NVIDIA by 1.2% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 829,595 shares of the computer hardware maker’s stock valued at $148,307,000 after purchasing an additional 9,565 shares in the last quarter. Institutional investors own 65.28% of the company’s stock.

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NVIDIA Company Profile

Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.

Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

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