NVIDIA (NVDA) PT Raised to $270.00 at Citigroup

NVIDIA (NASDAQ:NVDA) had its price objective boosted by stock analysts at Citigroup to $270.00 in a research note issued on Friday, The Fly reports. The firm currently has a “buy” rating on the computer hardware maker’s stock. Citigroup’s target price points to a potential upside of 24.13% from the company’s previous close.

A number of other research firms have also commented on NVDA. Goldman Sachs Group lowered shares of NVIDIA from a “conviction-buy” rating to a “buy” rating and set a $281.00 price objective on the stock. in a research note on Thursday, February 1st. Vetr lowered shares of NVIDIA from a “hold” rating to a “sell” rating and set a $234.76 price objective on the stock. in a research note on Monday, January 29th. Zacks Investment Research upgraded shares of NVIDIA from a “hold” rating to a “buy” rating and set a $262.00 target price on the stock in a research report on Wednesday, January 24th. Susquehanna Bancshares reiterated a “neutral” rating and set a $200.00 target price (up previously from $185.00) on shares of NVIDIA in a research report on Thursday. Finally, Bank of America reiterated a “buy” rating and set a $275.00 target price (up previously from $251.00) on shares of NVIDIA in a research report on Friday, January 19th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-five have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $201.49.

Shares of NVIDIA (NASDAQ NVDA) opened at $217.52 on Friday. 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 has a 12 month low of $95.17 and a 12 month high of $249.27. The company has a market cap of $138,652.80, a price-to-earnings ratio of 53.98, a PEG ratio of 4.77 and a beta of 1.43.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Thursday, February 8th. The computer hardware maker reported $1.72 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.56. NVIDIA had a net margin of 28.78% and a return on equity of 42.71%. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the prior year, the firm posted $1.13 EPS. The company’s quarterly revenue was up 34.0% on a year-over-year basis. sell-side analysts anticipate that NVIDIA will post 4.2 earnings per share for the current year.

In other news, Director A Brooke Seawell sold 1,029 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $214.10, for a total value of $220,308.90. Following the completion of the sale, the director now owns 1,029 shares in the company, valued at $220,308.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Colette Kress sold 171 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $185.57, for a total transaction of $31,732.47. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,858 shares of company stock worth $4,227,384. Corporate insiders own 5.82% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Legal & General Group Plc raised its holdings in shares of NVIDIA by 2.8% in the third quarter. Legal & General Group Plc now owns 2,867,090 shares of the computer hardware maker’s stock valued at $512,549,000 after purchasing an additional 78,943 shares during the last quarter. Swiss National Bank raised its holdings in shares of NVIDIA by 0.9% in the fourth quarter. Swiss National Bank now owns 2,213,385 shares of the computer hardware maker’s stock valued at $428,290,000 after purchasing an additional 19,900 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of NVIDIA by 4.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 2,027,499 shares of the computer hardware maker’s stock valued at $392,322,000 after purchasing an additional 95,004 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of NVIDIA by 12.0% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,970,888 shares of the computer hardware maker’s stock valued at $352,336,000 after purchasing an additional 211,411 shares during the last quarter. Finally, Swedbank raised its holdings in shares of NVIDIA by 21.0% in the third quarter. Swedbank now owns 1,690,684 shares of the computer hardware maker’s stock valued at $302,244,000 after purchasing an additional 293,832 shares during the last quarter. Institutional investors own 62.84% 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.

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