NVIDIA (NASDAQ:NVDA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

NVIDIA (NASDAQ:NVDA) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from $155.00 to $170.00 in a report released on Thursday, MarketBeat Ratings reports. The brokerage currently has an “overweight” rating on the computer hardware maker’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 19.76% from the stock’s current price.

Other equities analysts have also issued research reports about the company. UBS Group lifted their price target on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Citigroup upped their target price on NVIDIA from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Robert W. Baird lifted their price target on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday. Rosenblatt Securities restated a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Monday, November 18th. Finally, Craig Hallum lifted their target price on shares of NVIDIA from $125.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Trading Down 3.2 %

Shares of NASDAQ:NVDA opened at $141.95 on Thursday. The company has a market capitalization of $3.48 trillion, a PE ratio of 66.58, a PEG ratio of 1.54 and a beta of 1.66. NVIDIA has a 12-month low of $45.01 and a 12-month high of $152.89. The business has a 50 day moving average of $134.01 and a two-hundred day moving average of $122.06. The company has a current ratio of 4.27, a quick ratio of 3.79 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the prior year, the firm posted $0.38 earnings per share. The firm’s quarterly revenue was up 93.6% compared to the same quarter last year. As a group, analysts forecast that NVIDIA will post 2.68 EPS for the current year.

NVIDIA declared that its board has approved a share repurchase program on Wednesday, August 28th that permits the company to buyback $50.00 billion in outstanding shares. This buyback authorization permits the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 120,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $119.03, for a total transaction of $14,283,600.00. Following the sale, the chief executive officer now owns 76,494,995 shares of the company’s stock, valued at approximately $9,105,199,254.85. This represents a 0.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, the director now owns 8,100,117 shares of the company’s stock, valued at $1,071,402,475.59. This trade represents a 1.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock worth $254,784,327 over the last ninety days. Company insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lowe Wealth Advisors LLC acquired a new position in NVIDIA during the 2nd quarter worth $25,000. DHJJ Financial Advisors Ltd. boosted its stake in shares of NVIDIA by 1,900.0% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after buying an additional 190 shares during the period. FPC Investment Advisory Inc. acquired a new position in shares of NVIDIA during the first quarter worth about $26,000. CGC Financial Services LLC purchased a new stake in shares of NVIDIA during the second quarter worth approximately $26,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in NVIDIA in the first quarter worth approximately $27,000. Hedge funds and other 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.