NVIDIA’s (NVDA) “Overweight” Rating Reiterated at Cantor Fitzgerald

NVIDIA (NASDAQ:NVDA)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $200.00 price target on the computer hardware maker’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 91.46% from the stock’s previous close.

Several other brokerages have also recently issued reports on NVDA. Needham & Company LLC reissued a “buy” rating and issued a $160.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. HSBC downgraded shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research report on Thursday, April 3rd. Mizuho lowered their target price on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a research note on Friday, March 14th. DA Davidson dropped their price objective on shares of NVIDIA from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Citigroup decreased their price target on NVIDIA from $163.00 to $150.00 and set a “buy” rating for the company in a report on Friday, April 11th. Six research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $166.14.

NVIDIA Stock Performance

NVIDIA stock traded down $7.74 during midday trading on Wednesday, hitting $104.46. The stock had a trading volume of 119,082,669 shares, compared to its average volume of 312,547,245. The firm’s fifty day moving average is $118.34 and its two-hundred day moving average is $130.20. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $2.55 trillion, a PE ratio of 41.05, a P/E/G ratio of 1.76 and a beta of 1.96. NVIDIA has a 52-week low of $75.61 and a 52-week high of $195.95.

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

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the sale, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $360,509,924.95. The trade was a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Dabiri sold 2,663 shares of the firm’s 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 directly owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,147 shares of company stock worth $17,133,207 in the last ninety days. 4.23% of the stock is owned by insiders.

Institutional Trading of NVIDIA

A number of hedge funds have recently modified their holdings of NVDA. Tacita Capital Inc acquired a new position in NVIDIA in the 4th quarter valued at approximately $28,000. Legend Financial Advisors Inc. acquired a new position in NVIDIA during the fourth quarter valued at approximately $34,000. Vision Financial Markets LLC bought a new position in NVIDIA in the 4th quarter worth $38,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA in the fourth quarter worth about $40,000. Finally, Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA during the 4th quarter worth about $46,000. 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.