NVIDIA Corporation (NASDAQ:NVDA) Receiving Somewhat Positive News Coverage, Analysis Shows
Media stories about NVIDIA Corporation (NASDAQ:NVDA) have trended somewhat positive on Wednesday, according to Accern Sentiment Analysis. Accern identifies positive and negative news coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. NVIDIA Corporation earned a news sentiment score of 0.11 on Accern’s scale. Accern also gave media headlines about the computer hardware maker an impact score of 46.6951730132018 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
These are some of the news stories that may have effected Accern Sentiment’s scoring:
- Forget Earnings, Nvidia Corporation (NVDA) Stock Is a Great Investment (investorplace.com)
- Nvidia Corporation (NVDA) Stock Isn’t Doomed, But It Is Dangerous (investorplace.com)
- Short Interest in NVIDIA Corporation (NASDAQ:NVDA) Declines By 26.2% (elcumanes.com)
- NVIDIA (NVDA) to Report Q2 Earnings: What’s in the Cards? (nasdaq.com)
- NVIDIA Corporation (NVDA) Gets a Price Target Lift on Expected Gaming Platform Strength (smarteranalyst.com)
NVIDIA Corporation (NASDAQ:NVDA) traded up 1.06% during midday trading on Wednesday, hitting $172.11. The stock had a trading volume of 13,269,623 shares. The company’s 50 day moving average is $158.02 and its 200 day moving average is $125.12. The company has a market cap of $102.41 billion, a price-to-earnings ratio of 57.77 and a beta of 1.24. NVIDIA Corporation has a 1-year low of $57.32 and a 1-year high of $172.21.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings data on Tuesday, May 9th. The computer hardware maker reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.16. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.91 billion. NVIDIA Corporation had a net margin of 25.95% and a return on equity of 36.40%. The firm’s quarterly revenue was up 48.7% compared to the same quarter last year. During the same period last year, the firm posted $0.46 earnings per share. On average, equities analysts anticipate that NVIDIA Corporation will post $3.10 earnings per share for the current fiscal year.
A number of research analysts have recently weighed in on NVDA shares. Vetr upgraded NVIDIA Corporation from a “buy” rating to a “strong-buy” rating and set a $174.03 price target on the stock in a report on Monday, June 12th. Zacks Investment Research upgraded NVIDIA Corporation from a “hold” rating to a “strong-buy” rating and set a $169.00 price target on the stock in a report on Tuesday, July 11th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $130.00 price target on shares of NVIDIA Corporation in a report on Friday, April 14th. Canaccord Genuity reiterated a “buy” rating on shares of NVIDIA Corporation in a report on Saturday, June 3rd. Finally, Mizuho reiterated a “buy” rating and set a $170.00 price target (up previously from $145.00) on shares of NVIDIA Corporation in a report on Wednesday, June 28th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty have issued a buy rating and three have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $136.24.
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In related news, Director Harvey C. Jones sold 100,000 shares of NVIDIA Corporation stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $150.29, for a total value of $15,029,000.00. Following the transaction, the director now directly owns 30,762 shares of the company’s stock, valued at $4,623,220.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tench Coxe sold 50,000 shares of NVIDIA Corporation stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $129.48, for a total transaction of $6,474,000.00. The disclosure for this sale can be found here. Insiders sold 622,282 shares of company stock worth $93,304,082 over the last three months. 5.17% of the stock is currently owned by insiders.
NVIDIA Corporation 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.
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