Bank of America Reiterates Buy Rating for NVIDIA (NVDA)

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating reissued by Bank of America in a research report issued to clients and investors on Friday. They presently have a $275.00 price target on the computer hardware maker’s stock, up from their prior price target of $251.00. Bank of America’s price target points to a potential upside of 20.62% from the company’s current price.

Other research analysts also recently issued reports about the stock. BidaskClub raised shares of NVIDIA from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 11th. Sanford C. Bernstein reissued an “outperform” rating on shares of NVIDIA in a research note on Saturday, September 23rd. SunTrust Banks restated a “buy” rating and issued a $200.00 target price (up previously from $181.00) on shares of NVIDIA in a report on Monday, October 2nd. Craig Hallum restated a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a report on Saturday, September 23rd. Finally, Citigroup restated a “buy” rating and issued a $240.00 target price on shares of NVIDIA in a report on Friday, November 10th. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. NVIDIA currently has a consensus rating of “Buy” and a consensus price target of $193.10.

Shares of NVIDIA (NASDAQ NVDA) traded up $3.54 on Friday, reaching $227.98. 4,347,743 shares of the company were exchanged, compared to its average volume of 14,186,450. The stock has a market capitalization of $138,420.00, a P/E ratio of 57.00, a P/E/G ratio of 5.23 and a beta of 1.18. NVIDIA has a 1-year low of $95.17 and a 1-year high of $227.51. The company has a debt-to-equity ratio of 0.31, a current ratio of 8.26 and a quick ratio of 7.42.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, November 9th. The computer hardware maker reported $1.33 EPS for the quarter, topping the consensus estimate of $0.94 by $0.39. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.36 billion. NVIDIA had a net margin of 28.78% and a return on equity of 42.71%. The business’s revenue was up 31.5% compared to the same quarter last year. During the same period last year, the firm posted $0.94 earnings per share. research analysts anticipate that NVIDIA will post 4.19 EPS for the current year.

In other NVIDIA news, Director Persis Drell sold 606 shares of the business’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $197.07, for a total transaction of $119,424.42. Following the completion of the sale, the director now directly owns 26,104 shares in the company, valued at approximately $5,144,315.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dawn E. Hudson sold 15,000 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $213.44, for a total value of $3,201,600.00. Following the sale, the director now owns 46,868 shares of the company’s stock, valued at $10,003,505.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,858 shares of company stock valued at $4,227,384. Corporate insiders own 5.82% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the business. Welch Investments LLC bought a new position in shares of NVIDIA during the 3rd quarter valued at approximately $104,000. Evercore Wealth Management LLC grew its stake in shares of NVIDIA by 36.9% during the 2nd quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock valued at $110,000 after acquiring an additional 206 shares during the period. Country Trust Bank grew its stake in shares of NVIDIA by 490.0% during the 4th quarter. Country Trust Bank now owns 590 shares of the computer hardware maker’s stock valued at $114,000 after acquiring an additional 490 shares during the period. North Star Investment Management Corp. grew its stake in shares of NVIDIA by 67.3% during the 4th quarter. North Star Investment Management Corp. now owns 634 shares of the computer hardware maker’s stock valued at $123,000 after acquiring an additional 255 shares during the period. Finally, Edge Advisors LLC grew its stake in shares of NVIDIA by 98.8% during the 3rd quarter. Edge Advisors LLC now owns 835 shares of the computer hardware maker’s stock valued at $149,000 after acquiring an additional 415 shares during the period. Institutional investors and hedge funds own 63.40% of the company’s stock.

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About NVIDIA

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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