In a report released today, Vijay Rakesh from Mizuho Securities reiterated a Buy rating on Nvidia (NVDA – Research Report), with a price target of $235.00. The company’s shares closed last Thursday at $221.77, close to its 52-week high of $230.43.
According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 26.7% and a 68.2% success rate. Rakesh covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Allegro MicroSystems, and NXP Semiconductors.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Nvidia with a $235.13 average price target, implying a 5.4% upside from current levels. In a report issued on August 25, Piper Sandler also reiterated a Buy rating on the stock.
Nvidia’s market cap is currently $558.5B and has a P/E ratio of 80.80. The company has a Price to Book ratio of 39.14.
Based on the recent corporate insider activity of 76 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. Last month, Robert K. Burgess, a Director at NVDA sold 20,000 shares for a total of $4,367,600.
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. 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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