Nvidia (NVDA) Receives a Rating Update from a Top Analyst

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TD Cowen analyst Matt Ramsay reiterated a Buy rating on Nvidia (NVDAResearch Report) yesterday and set a price target of $140.00. The company’s shares closed last Friday at $1,208.88.

According to TipRanks, Ramsay is a top 25 analyst with an average return of 31.6% and a 66.53% success rate. Ramsay covers the Technology sector, focusing on stocks such as Nvidia, Intel, and Advanced Micro Devices.

Nvidia has an analyst consensus of Strong Buy, with a price target consensus of $1,179.44, which is a -2.44% downside from current levels. In a report released on June 5, Bank of America Securities also reiterated a Buy rating on the stock with a $1,500.00 price target.

Based on Nvidia’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $26.04 billion and a net profit of $14.88 billion. In comparison, last year the company earned a revenue of $7.19 billion and had a net profit of $2.04 billion

Based on the recent corporate insider activity of 120 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 (NVDA) Company Description:

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.