Nvidia (NVDA): New Buy Recommendation for This Technology Giant

In a report released today, Rajvindra Gill from Needham assigned a Buy rating to Nvidia (NVDA), with a price target of $700.00. The company’s shares closed last Tuesday at $518.31.

According to TipRanks.com, Gill is a 4-star analyst with an average return of 4.1% and a 58.7% success rate. Gill covers the Technology sector, focusing on stocks such as Sequans Communications S A, Everspin Technologies, and Smart Global Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Nvidia with a $599.37 average price target, implying a 14.0% upside from current levels. In a report issued on November 12, Merrill Lynch also reiterated a Buy rating on the stock with a $650.00 price target.

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The company has a one-year high of $589.07 and a one-year low of $180.68. Currently, Nvidia has an average volume of 12.4M.

Based on the recent corporate insider activity of 87 insiders, corporate insider sentiment is neutral on the stock. Most recently, in September 2020, Dawn Hudson, a Director at NVDA sold 48,000 shares for a total of $24,843,163.

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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