Merrill Lynch Believes Nvidia (NVDA) Won’t Stop Here

In a report released today, Vivek Arya from Merrill Lynch reiterated a Buy rating on Nvidia (NVDA), with a price target of $700.00. The company’s shares closed last Monday at $614.25, close to its 52-week high of $648.57.

According to, Arya is a 5-star analyst with an average return of 26.9% and a 67.1% success rate. Arya covers the Technology sector, focusing on stocks such as Advanced Micro Devices, NXP Semiconductors, and ON Semiconductor.

Currently, the analyst consensus on Nvidia is a Strong Buy with an average price target of $670.20, which is a 7.8% upside from current levels. In a report issued on April 9, Credit Suisse also maintained a Buy rating on the stock with a $620.00 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 75 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. Earlier this month, Robert K. Burgess, a Director at NVDA sold 14,500 shares for a total of $9,105,295.

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NVIDIA Corp. designs and manufactures computer graphics processors, chipsets, and related multimedia software. The company operates through two segments:
• Graphics segment: Includes GeForce GPUs (graphics processing units) for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms, Quadro GPUs for enterprise design, GRID software for cloud-based visual and virtual computing, as well as automotive platforms for infotainment systems.
• Compute & Networking segment: Includes Data Center platforms and systems for artificial intelligence, high performance computing, and accelerated computing, Mellanox networking and interconnect solutions, DRIVE for autonomous vehicles and Jetson for robotics and other embedded platforms.
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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