NVIDIA (NASDAQ:NVDA) Stock Rating Reaffirmed by Bank of America

NVIDIA (NASDAQ:NVDA)‘s stock had its “buy” rating reissued by equities research analysts at Bank of America in a note issued to investors on Friday, January 19th, Marketbeat Ratings reports. They currently have a $275.00 target price on the computer hardware maker’s stock, up from their previous target price of $251.00. Bank of America’s price objective indicates a potential upside of 13.91% from the company’s previous close.

NVDA has been the topic of several other research reports. Citigroup restated a “buy” rating and issued a $210.00 price objective (up previously from $185.00) on shares of NVIDIA in a research note on Friday, September 29th. Vetr cut NVIDIA from a “strong-buy” rating to a “buy” rating and set a $217.46 target price for the company. in a research report on Wednesday, January 3rd. Goldman Sachs Group reaffirmed a “buy” rating and issued a $228.00 target price on shares of NVIDIA in a research report on Friday, January 5th. Needham & Company LLC raised their target price on NVIDIA from $200.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, October 13th. Finally, Mizuho reaffirmed a “buy” rating and issued a $240.00 target price (up from $225.00) on shares of NVIDIA in a research report on Tuesday, January 16th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $210.67.

Shares of NVIDIA (NVDA) traded up $8.79 during trading on Friday, hitting $241.42. 18,620,000 shares of the stock traded hands, compared to its average volume of 16,930,000. The firm has a market capitalization of $146,300.00, a P/E ratio of 49.98, a price-to-earnings-growth ratio of 3.71 and a beta of 1.43. The company has a debt-to-equity ratio of 0.27, a quick ratio of 7.34 and a current ratio of 8.03. NVIDIA has a twelve month low of $95.17 and a twelve month high of $249.27.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, February 8th. The computer hardware maker reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.56. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.67 billion. NVIDIA had a net margin of 31.36% and a return on equity of 45.02%. NVIDIA’s quarterly revenue was up 34.0% on a year-over-year basis. During the same quarter last year, the company posted $1.13 earnings per share. analysts anticipate that NVIDIA will post 6 earnings per share for the current year.

In related news, Director Mark L. Perry sold 17,307 shares of NVIDIA stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $227.93, for a total value of $3,944,784.51. Following the completion of the sale, the director now directly owns 30,762 shares in the company, valued at $7,011,582.66. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Colette Kress sold 171 shares of NVIDIA stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $185.57, for a total value of $31,732.47. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,165 shares of company stock valued at $4,970,569. Corporate insiders own 5.17% of the company’s stock.

A number of hedge funds have recently made changes to their positions in NVDA. Welch Investments LLC acquired a new position in shares of NVIDIA during the 3rd quarter worth about $104,000. Evercore Wealth Management LLC grew its position in shares of NVIDIA by 36.9% during the 2nd quarter. Evercore Wealth Management LLC now owns 765 shares of the computer hardware maker’s stock worth $110,000 after buying an additional 206 shares during the period. Country Trust Bank grew its position in shares of NVIDIA by 490.0% during the 4th quarter. Country Trust Bank now owns 590 shares of the computer hardware maker’s stock worth $114,000 after buying an additional 490 shares during the period. Global Trust Asset Management LLC acquired a new position in shares of NVIDIA during the 4th quarter worth about $116,000. Finally, Clearbridge Investments LLC grew its position in shares of NVIDIA by 100.0% during the 4th quarter. Clearbridge Investments LLC now owns 600 shares of the computer hardware maker’s stock worth $116,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 62.70% of the company’s stock.

TRADEMARK VIOLATION WARNING: “NVIDIA (NASDAQ:NVDA) Stock Rating Reaffirmed by Bank of America” was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this report on another domain, it was copied illegally and republished in violation of United States and international copyright and trademark laws. The correct version of this report can be read at https://www.dispatchtribunal.com/2018/02/14/nvidia-nvda-receives-buy-rating-from-bank-of-america.html.

About NVIDIA

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.

Analyst Recommendations for NVIDIA (NASDAQ:NVDA)

Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply