NVIDIA Stock Rating Reaffirmed by Needham & Company

NVIDIA (NASDAQ:NVDA) has received a reaffirmed "buy" rating from research analysts at Needham & Company LLC, according to a report released on Thursday. They have set a price target of $160.00 for NVIDIA's stock, indicating a potential upside of 28.20% from its current trading price.

Several other analysts have also shared their insights regarding NVIDIA. On February 20th, Wedbush maintained its "outperform" rating while setting a price target of $175.00 for the shares. Bank of America increased its price target from $190.00 to $200.00, giving NVIDIA a "buy" rating in a report released on the same Thursday. In a previous evaluation on November 21st, Oppenheimer reiterated its "outperform" rating with a target of $175.00. Conversely, Summit Insights changed its stance by downgrading NVIDIA from a "buy" to a "hold" rating. Additionally, Wells Fargo & Company raised its target for NVIDIA from $165.00 to $185.00 and assigned an "overweight" rating, also noted on November 21st. Overall, analysts have given NVIDIA's stock a consensus rating of "Moderate Buy", with 38 analysts recommending a buy, five suggesting a hold, and one reporting a strong buy. The average consensus price target stands at $169.62.

NVIDIA Stock Performance

The stock opened at $124.81 on Thursday. Over the last year, NVIDIA has hit a low of $75.61 and a high of $153.13. It showcases strong financial health with a current ratio of 4.10, a quick ratio of 3.64, and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $134.19 and a 200-day moving average price of $131.92, alongside a market capitalization of $3.06 trillion. As for valuation metrics, the stock has a P/E ratio of 49.12, a PEG ratio of 1.76, and a beta of 1.62.

NVIDIA most recently announced its earnings on February 26th, reporting an earnings per share (EPS) of $0.89 for the quarter, surpassing analysts' expectations of $0.84 by $0.05. The company generated revenue of $39.33 billion during this quarter, exceeding expectations of $38.16 billion. NVIDIA's return on equity was notably high at 114.83%, with a net margin of 55.69%. Analysts anticipate that NVIDIA will post an EPS of 2.77 for the current fiscal year.

Insider Trading Activity

In insider trading news, Executive Vice President Ajay K. Puri sold 36,462 shares on January 6th at an average price of $151.10, bringing a total value of $5,509,408.20. Following this transaction, he retains ownership of 3,902,888 shares valued at approximately $589,726,376.80, reflecting a 0.93% decrease in his stake. Additionally, Director Tench Coxe sold a substantial 1,000,000 shares on December 16th for an average price of $131.26, totaling $131,260,000. After this sale, he owns 28,671,360 shares valued at about $3,763,402,713.60, marking a 3.37% reduction in his holdings. Over the last quarter, insiders have sold 1,107,632 shares valued at $146,405,286, with corporate insiders currently owning 4.23% of NVIDIA's stock.

Institutional Holdings of NVIDIA

Institutional investors have also been active in adjusting their positions in NVIDIA. For instance, Ironwood Wealth Management LLC significantly raised its stake by 896.9% in the second quarter, now owning 6,330 shares worth $782,000 after adding 5,695 shares. Meanwhile, the University of Texas Texas AM Investment Management Co. purchased a new stake valued at $31,000 during the same period. Beck Bode LLC increased its holdings in NVIDIA by 698.5%, acquiring 182,866 shares valued at $22,591,000, supplemented by purchasing an additional 159,966 shares. Oliver Lagore Vanvalin Investment Group experienced a remarkable boost in its holdings by 1,335.6%, securing 25,237 shares valued at $3,118,000. Finally, Dorsey Wright & Associates increased their investment in NVIDIA by 574.3%, owning 103,292 shares valued at $12,761,000. Institutional investors collectively hold 65.27% of NVIDIA's stock.

Overview of NVIDIA Corporation

NVIDIA Corporation engages in providing graphics and computing solutions, along with networking solutions, primarily in the United States, Taiwan, China, and Hong Kong. Their Graphics segment features GeForce GPUs targeted at gaming and PCs, the GeForce NOW game streaming service, as well as solutions for various gaming platforms. Additionally, NVIDIA offers Quadro/NVIDIA RTX GPUs designed for enterprise graphics, vGPU software for cloud computing, automotive platforms for infotainment systems, and Omniverse software for creating metaverse and 3D applications.

NVIDIA, Stock, Rating