NVIDIA (NASDAQ:NVDA) Price Target Increased to $420.00 by Analysts at Oppenheimer

Posted by Defense World Staff on May 26th, 2023

NVIDIA (NASDAQ:NVDA – Get Rating) had its target price upped by Oppenheimer from $350.00 to $420.00 in a research report report published on Thursday morning, The Fly reports.

Several other equities research analysts have also recently weighed in on NVDA. Bank of America upped their price target on NVIDIA from $310.00 to $340.00 and gave the stock a buy rating in a research note on Wednesday, April 19th. Needham & Company LLC upped their price target on NVIDIA from $270.00 to $300.00 in a research note on Thursday, March 23rd. Wedbush upped their price target on NVIDIA from $216.00 to $290.00 in a research note on Monday. BNP Paribas raised NVIDIA from an underperform rating to a neutral rating and set a $230.00 target price on the stock in a research note on Tuesday, March 21st. Finally, Mizuho increased their target price on NVIDIA from $230.00 to $290.00 and gave the stock a buy rating in a research note on Wednesday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $375.13.

NVIDIA Price Performance

NVDA opened at $379.80 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.73 and a current ratio of 3.52. NVIDIA has a 52-week low of $108.13 and a 52-week high of $394.80. The stock has a market capitalization of $939.29 billion, a PE ratio of 197.81, a price-to-earnings-growth ratio of 5.31 and a beta of 1.77. The stock’s 50 day moving average price is $280.52 and its 200-day moving average price is $218.29.

NVIDIA (NASDAQ:NVDA – Get Rating) last issued its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.17. The company had revenue of $7.19 billion for the quarter, compared to analysts’ expectations of $6.52 billion. NVIDIA had a return on equity of 24.18% and a net margin of 18.52%. The firm’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.18 earnings per share. On average, equities research analysts predict that NVIDIA will post 3.28 EPS for the current year.

Insider Buying and Selling

In related news, EVP Debora Shoquist sold 23,084 shares of the stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $305.00, for a total transaction of $7,040,620.00. Following the completion of the sale, the executive vice president now owns 139,860 shares in the company, valued at $42,657,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other NVIDIA news, CFO Colette Kress sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $229.29, for a total transaction of $1,375,740.00. Following the completion of the transaction, the chief financial officer now owns 561,401 shares in the company, valued at approximately $128,723,635.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Debora Shoquist sold 23,084 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $305.00, for a total value of $7,040,620.00. Following the transaction, the executive vice president now owns 139,860 shares of the company’s stock, valued at approximately $42,657,300. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,084 shares of company stock worth $14,516,510. 3.99% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

Several institutional investors have recently added to or reduced their stakes in the company. Nikulski Financial Inc. grew its holdings in NVIDIA by 1.3% during the 1st quarter. Nikulski Financial Inc. now owns 2,675 shares of the computer hardware maker’s stock valued at $743,000 after buying an additional 35 shares in the last quarter. Opal Wealth Advisors LLC lifted its stake in shares of NVIDIA by 1.8% in the 1st quarter. Opal Wealth Advisors LLC now owns 2,103 shares of the computer hardware maker’s stock valued at $584,000 after purchasing an additional 37 shares during the last quarter. Bradley Foster & Sargent Inc. CT lifted its stake in shares of NVIDIA by 0.3% in the 1st quarter. Bradley Foster & Sargent Inc. CT now owns 11,710 shares of the computer hardware maker’s stock valued at $3,253,000 after purchasing an additional 37 shares during the last quarter. Centurion Wealth Management LLC lifted its stake in shares of NVIDIA by 0.4% in the 1st quarter. Centurion Wealth Management LLC now owns 8,859 shares of the computer hardware maker’s stock valued at $2,461,000 after purchasing an additional 37 shares during the last quarter. Finally, Callan Family Office LLC lifted its stake in shares of NVIDIA by 0.7% in the 1st quarter. Callan Family Office LLC now owns 5,219 shares of the computer hardware maker’s stock valued at $1,450,000 after purchasing an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

About NVIDIA

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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, 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.