Merrill Lynch Reaffirms Their Buy Rating on Nvidia
Merrill Lynch analyst Vivek Arya reiterated a Buy rating on Nvidia (NASDAQ: NVDA) yesterday and set a price target of $340. The company’s shares opened today at $252.78, close to its 52-week high of $260.50.
According to TipRanks.com, Arya is a 5-star analyst with an average return of 18.3% and a 58.7% success rate. Arya covers the Consumer Goods sector, focusing on stocks such as Advanced Micro Devices, Integrated Device Tech, and Applied Materials.
Currently, the analyst consensus on Nvidia is Moderate Buy and the average price target is $280.76, representing an 11.1% upside.
In a report issued on May 3, Barclays also upgraded the stock to Buy with a $280 price target.
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Based on Nvidia’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $3.21 billion and net profit of $1.24 billion. In comparison, last year the company earned revenue of $1.94 billion and had a net profit of $507 million.
Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is negative on the stock. Most recently, in February 2018, James Gaither, a Director at NVDA sold 20,000 shares for a total of $4,913,200.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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