NVIDIA (NASDAQ:NVDA) Earns “Overweight” Rating from Cantor Fitzgerald

NVIDIA (NASDAQ:NVDA)‘s stock had its “overweight” rating reaffirmed by Cantor Fitzgerald in a report released on Wednesday,Benzinga reports. They presently have a $200.00 price target on the computer hardware maker’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 70.75% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Rosenblatt Securities reiterated a “buy” rating and set a $220.00 price target on shares of NVIDIA in a research note on Wednesday. Stifel Nicolaus increased their target price on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Loop Capital reissued a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 price objective on shares of NVIDIA in a report on Wednesday. Finally, KeyCorp reissued an “overweight” rating on shares of NVIDIA in a report on Wednesday. Four investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $171.51.

NVIDIA Stock Performance

NASDAQ NVDA traded up $1.70 during trading hours on Wednesday, reaching $117.13. 44,183,684 shares of the company were exchanged, compared to its average volume of 318,584,866. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $2.86 trillion, a P/E ratio of 46.21, a P/E/G ratio of 1.76 and a beta of 1.77. NVIDIA has a 1 year low of $75.61 and a 1 year high of $153.13. The business’s 50 day simple moving average is $128.17 and its 200-day simple moving average is $131.21.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping 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 analysts’ expectations of $38.16 billion. On average, equities research analysts expect that NVIDIA will post 2.77 earnings per share for the current year.

Insider Transactions at NVIDIA

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

Hedge Funds Weigh In On NVIDIA

A number of hedge funds have recently modified their holdings of the company. Tacita Capital Inc bought a new position in NVIDIA during the 4th quarter valued at approximately $28,000. Legend Financial Advisors Inc. purchased a new position in shares of NVIDIA during the fourth quarter valued at approximately $34,000. Vision Financial Markets LLC bought a new position in shares of NVIDIA during the fourth quarter valued at approximately $38,000. Luken Investment Analytics LLC purchased a new stake in NVIDIA in the fourth quarter worth $40,000. Finally, DHJJ Financial Advisors Ltd. boosted its holdings in NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after acquiring an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

About NVIDIA

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.