In a report issued on February 24, Ruben Roy from Benchmark Co. maintained a Buy rating on Nvidia (NVDA), with a price target of $670.00. The company’s shares closed last Monday at $547.97, close to its 52-week high of $614.90.
According to TipRanks.com, Roy is a 5-star analyst with an average return of 20.2% and a 69.4% success rate. Roy covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Silicon Laboratories, and Skyworks Solutions.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Nvidia with a $650.00 average price target, which is a 17.1% upside from current levels. In a report issued on February 9, Merrill Lynch also maintained a Buy rating on the stock with a $625.00 price target.
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Based on Nvidia’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $5 billion and net profit of $1.46 billion. In comparison, last year the company earned revenue of $3.11 billion and had a net profit of $951 million.
Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NVDA in relation to earlier this year.
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.
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands, which aims 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. The Tegra Processor segment integrates an entire computer onto a single chip, and incorporates GPUs and multi-core CPUs to drive supercomputing for autonomous robots, drones, and cars, as well as for consoles and mobile gaming and entertainment devices. The company was founded by Jen-Hsun Huang, Chris A. Malachowsky, and Curtis R. Priem in January 1993 and is headquartered in Santa Clara, CA.
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