NVIDIA (NASDAQ:NVDA) Coverage Initiated by Analysts at Evercore ISI

Equities research analysts at Evercore ISI started coverage on shares of NVIDIA (NASDAQ:NVDA) in a report issued on Tuesday, Benzinga reports. The firm set an “outperform” rating and a $1,160.00 price target on the computer hardware maker’s stock. Evercore ISI’s price objective suggests a potential upside of 34.88% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. Tigress Financial lifted their price target on NVIDIA from $790.00 to $985.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Wells Fargo & Company lifted their price target on NVIDIA from $840.00 to $970.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Wolfe Research lifted their price target on NVIDIA from $630.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Bank of America lifted their price target on NVIDIA from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Finally, Loop Capital started coverage on NVIDIA in a research note on Friday, February 16th. They set a “buy” rating and a $1,200.00 target price on the stock. Four analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $940.30.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $860.01 on Tuesday. The stock has a market cap of $2.15 trillion, a price-to-earnings ratio of 72.03, a P/E/G ratio of 1.27 and a beta of 1.73. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20. NVIDIA has a 1-year low of $262.25 and a 1-year high of $974.00. The stock’s 50-day moving average is $834.27 and its 200 day moving average is $613.81.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. The company had revenue of $22.10 billion for the quarter, compared to analysts’ expectations of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. NVIDIA’s revenue for the quarter was up 265.3% compared to the same quarter last year. During the same period last year, the firm posted $0.65 EPS. On average, sell-side analysts anticipate that NVIDIA will post 22.45 EPS for the current fiscal year.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the completion of the sale, the director now owns 1,052,133 shares in the company, valued at $925,845,476.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the sale, the director now owns 1,052,133 shares in the company, valued at $925,845,476.01. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John Dabiri sold 128 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the sale, the director now owns 2,055 shares of the company’s stock, valued at approximately $1,931,700. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,278 shares of company stock worth $52,689,898. 3.99% of the stock is owned by insiders.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds have recently made changes to their positions in the business. Courier Capital LLC boosted its stake in shares of NVIDIA by 10.0% in the first quarter. Courier Capital LLC now owns 4,439 shares of the computer hardware maker’s stock worth $4,011,000 after acquiring an additional 404 shares during the period. Powell Investment Advisors LLC boosted its stake in shares of NVIDIA by 20.7% in the first quarter. Powell Investment Advisors LLC now owns 1,112 shares of the computer hardware maker’s stock worth $1,005,000 after acquiring an additional 191 shares during the period. Fifth Third Wealth Advisors LLC boosted its stake in shares of NVIDIA by 20.2% in the first quarter. Fifth Third Wealth Advisors LLC now owns 18,243 shares of the computer hardware maker’s stock worth $16,484,000 after acquiring an additional 3,066 shares during the period. Hennessy Advisors Inc. bought a new position in shares of NVIDIA in the first quarter worth about $212,000. Finally, BSN CAPITAL PARTNERS Ltd bought a new position in shares of NVIDIA in the first quarter worth about $262,228,000. 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.