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New Buy Rating for Nvidia (NVDA), the Technology Giant

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Needham analyst Rajvindra Gill reiterated a Buy rating on Nvidia (NVDAResearch Report) today and set a price target of $400.00. The company’s shares closed last Monday at $274.00.

According to TipRanks.com, Gill is a top 100 analyst with an average return of 21.0% and a 69.1% success rate. Gill covers the Technology sector, focusing on stocks such as Sequans Communications S A, Smart Global Holdings, and Everspin Technologies.

Currently, the analyst consensus on Nvidia is a Strong Buy with an average price target of $359.17, a 35.1% upside from current levels. In a report issued on January 4, Jefferies also upgraded the stock to Buy with a $370.00 price target.

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Nvidia’s market cap is currently $685B and has a P/E ratio of 84.52.

Based on the recent corporate insider activity of 87 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. Most recently, in November 2021, Robert K. Burgess, a Director at NVDA sold 10,164 shares for a total of $3,331,588.

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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