Piper Sandler Forecasts Strong Price Appreciation for NVIDIA (NASDAQ:NVDA) Stock

NVIDIA (NASDAQ:NVDA) had its price objective hoisted by Piper Sandler from $140.00 to $175.00 in a report released on Monday morning,Benzinga reports. The firm currently has an overweight rating on the computer hardware maker’s stock.

A number of other analysts also recently commented on NVDA. Mizuho boosted their price objective on NVIDIA from $132.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Truist Financial raised their target price on shares of NVIDIA from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Westpark Capital upped their price target on NVIDIA from $127.50 to $165.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Evercore ISI boosted their target price on NVIDIA from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, Robert W. Baird increased their price target on NVIDIA from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $152.40.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $146.76 on Monday. The firm has a 50-day moving average of $129.39 and a two-hundred day moving average of $119.51. NVIDIA has a 1-year low of $45.01 and a 1-year high of $149.77. The stock has a market cap of $3.60 trillion, a P/E ratio of 68.90, a PEG ratio of 1.54 and a beta of 1.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.27 and a quick ratio of 3.79.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, August 28th. The computer hardware maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The firm had revenue of $30.04 billion during the quarter, compared to the consensus estimate of $28.74 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. The firm’s revenue was up 122.4% on a year-over-year basis. On average, research analysts expect that NVIDIA will post 2.66 earnings per share for the current fiscal year.

NVIDIA declared that its board has approved a stock buyback plan on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

NVIDIA Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th were paid a $0.01 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.88%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $116.51, for a total value of $524,295.00. Following the sale, the insider now owns 492,409 shares of the company’s stock, valued at $57,370,572.59. The trade was a 0.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $116.59, for a total transaction of $7,773,055.30. Following the transaction, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The trade was a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,156,270 shares of company stock valued at $254,784,327 in the last ninety days. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lowe Wealth Advisors LLC acquired a new stake in NVIDIA in the 2nd quarter valued at $25,000. DHJJ Financial Advisors Ltd. lifted its holdings in shares of NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after acquiring an additional 190 shares during the period. FPC Investment Advisory Inc. acquired a new stake in shares of NVIDIA in the 1st quarter valued at $26,000. CGC Financial Services LLC bought a new stake in shares of NVIDIA in the 2nd quarter worth about $26,000. Finally, Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of NVIDIA during the 1st quarter worth about $27,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Company Profile

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.