Equities researchers at Wedbush boosted their price objective on shares of NVIDIA (NASDAQ:NVDA) from $21.00 to $22.00 in a research report issued on Friday, Analyst Ratings.Net reports. Wedbush’s price objective would suggest a potential upside of 18.41% from the stock’s previous close.
NVIDIA (NASDAQ:NVDA) traded down 1.04% on Friday, hitting $18.386. 1,454,444 shares of the company’s stock traded hands. NVIDIA has a one year low of $13.11 and a one year high of $19.46. The stock’s 50-day moving average is $18.47 and its 200-day moving average is $16.85. The company has a market cap of $10.279 billion and a price-to-earnings ratio of 21.81. NVIDIA also was the recipient of a significant increase in short interest in April. As of April 30th, there was short interest totalling 51,159,634 shares, an increase of 2.4% from the April 15th total of 49,950,506 shares. Currently, 9.7% of the company’s stock are short sold. Based on an average trading volume of 6,071,449 shares, the days-to-cover ratio is presently 8.4 days.
NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.29 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.17 by $0.12. The company had revenue of $1.10 million for the quarter, compared to the consensus estimate of $1.06 million. During the same quarter last year, the company posted $0.13 earnings per share. NVIDIA’s revenue was up 15.5% compared to the same quarter last year. Analysts expect that NVIDIA will post $0.92 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 13th. Shareholders of record on Thursday, May 22nd will be paid a dividend of $0.085 per share. This represents a $0.34 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Tuesday, May 20th.
In other NVIDIA news, CAO David Shannon unloaded 2,446 shares of NVIDIA stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $18.45, for a total value of $45,128.70. Following the completion of the transaction, the chief accounting officer now directly owns 240,917 shares in the company, valued at approximately $4,444,919. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at Roth Capital raised their price target on shares of NVIDIA from $20.00 to $22.00 in a research note on Friday. Separately, analysts at Citigroup Inc. reiterated a “hold” rating on shares of NVIDIA in a research note on Friday. They now have a $20.00 price target on the stock, up previously from $19.00. Finally, analysts at Brean Capital raised their price target on shares of NVIDIA from $19.50 to $20.00 in a research note on Friday. They now have a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $18.94.
NVIDIA Corporation (NASDAQ:NVDA) is engaged in creating the graphics chips used in personal computers (PCs).
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