NVIDIA Corporation’s (NASDAQ:NVDA) Buy Rating Reaffirmed at Loop Capital
NVIDIA Corporation (NASDAQ:NVDA)‘s stock had its “buy” rating restated by equities research analysts at Loop Capital in a research report issued to clients and investors on Friday. They currently have a $181.00 price target on the computer hardware maker’s stock. Loop Capital’s price target points to a potential upside of 9.87% from the stock’s current price.
The analysts wrote, “We think investors’ concerns that data center growth has slowed and topped out are unwarranted as FQ2 was a transition quarter to Volta. With Volta ramped, we are modeling a return to double-digit growth in FQ3. We are also cautious on how much more legs the demand from crypto currency mining has and we are modeling that business to flatten out in FQ3 and decline -20% YoY in F2019. We expect strong demand in data center and gaming in F2019 to more than offset the declines of crypto and we are modeling 14% YoY and 25% YoY growth, respectively. As for the step-up in OpEx, we believe NVDA must continue to spend to maintain its leadership position. We believe there is leverage in the model in F2019 driven by revenue growth and expanding margins.””
A number of other equities analysts also recently commented on NVDA. B. Riley reaffirmed a “buy” rating and set a $135.00 price objective on shares of NVIDIA Corporation in a report on Monday, May 8th. UBS AG reaffirmed a “buy” rating and set a $132.00 price objective on shares of NVIDIA Corporation in a report on Wednesday, May 10th. Barclays PLC raised their price objective on shares of NVIDIA Corporation to $140.00 and gave the stock an “equal weight” rating in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating on shares of NVIDIA Corporation in a report on Friday. Finally, BidaskClub raised shares of NVIDIA Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty have given a buy rating and three have given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $140.98.
Shares of NVIDIA Corporation (NASDAQ NVDA) opened at 164.74 on Friday. The company has a market cap of $98.02 billion, a P/E ratio of 55.30 and a beta of 1.24. The stock has a 50 day moving average of $159.56 and a 200 day moving average of $127.02. NVIDIA Corporation has a 52-week low of $57.32 and a 52-week high of $174.56.
NVIDIA Corporation (NASDAQ:NVDA) last released its quarterly earnings data on Thursday, August 10th. The computer hardware maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.32. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $1.96 billion. NVIDIA Corporation had a net margin of 25.95% and a return on equity of 36.40%. The firm’s revenue for the quarter was up 56.2% compared to the same quarter last year. During the same period last year, the firm earned $0.53 EPS. On average, equities analysts anticipate that NVIDIA Corporation will post $3.10 earnings per share for the current fiscal year.
In related news, Director Persis Drell sold 2,500 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $130.02, for a total transaction of $325,050.00. Following the completion of the sale, the director now owns 24,652 shares of the company’s stock, valued at $3,205,253.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harvey C. Jones sold 145,520 shares of the company’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $159.31, for a total transaction of $23,182,791.20. Following the sale, the director now directly owns 30,762 shares of the company’s stock, valued at approximately $4,900,694.22. The disclosure for this sale can be found here. Insiders have sold 572,282 shares of company stock valued at $86,830,082 in the last ninety days. 5.82% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. BT Investment Management Ltd purchased a new stake in NVIDIA Corporation during the second quarter valued at $2,063,000. Destination Wealth Management boosted its stake in NVIDIA Corporation by 5.6% in the second quarter. Destination Wealth Management now owns 2,205 shares of the computer hardware maker’s stock valued at $319,000 after buying an additional 117 shares in the last quarter. BlueMountain Capital Management LLC boosted its stake in NVIDIA Corporation by 34.0% in the second quarter. BlueMountain Capital Management LLC now owns 3,998 shares of the computer hardware maker’s stock valued at $578,000 after buying an additional 1,015 shares in the last quarter. Amalgamated Bank boosted its stake in NVIDIA Corporation by 69.1% in the second quarter. Amalgamated Bank now owns 67,378 shares of the computer hardware maker’s stock valued at $9,740,000 after buying an additional 27,523 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted its stake in NVIDIA Corporation by 5.3% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 30,529 shares of the computer hardware maker’s stock valued at $4,413,000 after buying an additional 1,550 shares in the last quarter. 68.91% of the stock is owned by institutional investors and hedge funds.
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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