Arbor Investment Advisors LLC recently disclosed its new position in NVIDIA Co. (NVDA) during the first quarter, according to the company’s latest filing with the Securities and Exchange Commission (SEC). The fund acquired 864 shares of the renowned computer hardware stock, with an estimated value of approximately $240,000. Other institutional investors and hedge funds have also made significant changes to their positions in NVDA, indicating growing interest in the company.
Analysts predict positive outlook for NVIDIA
NVIDIA has attracted the attention of several research analysts, who have issued reports outlining their predictions for the company’s future. Sanford C. Bernstein, for instance, raised its price target on NVIDIA shares from $300.00 to $475.00. Similarly, Tigress Financial increased its price target to $560.00. BNP Paribas upgraded NVIDIA’s rating from “underperform” to “neutral” and set a price target of $230.00. KeyCorp raised its price target to $375.00, and Needham & Company LLC increased its target to $460.00. Overall, one analyst rated the stock as a sell, six gave it a hold rating, thirty issued a buy rating, and one provided a strong buy rating. According to STA Research, the average rating for NVIDIA is “Strong Buy,” with a consensus price target of $334.88.
NVIDIA’s Stock performance
As of Friday, NVDA shares opened at $425.03. The stock’s fifty-day moving average price was $367.20, while its 200-day moving average price was $272.25. NVIDIA Co. has experienced a significant price range, with a 12-month low of $108.13 and a 12-month high of $439.90. The company has a market capitalization of $1.05 trillion, a price-to-earnings (P/E) ratio of 221.37, a price-to-earnings-growth (PEG) ratio of 2.93, and a beta of 1.74. It maintains a debt-to-equity ratio of 0.40, a current ratio of 3.43, and a quick ratio of 2.79.
NVIDIA’s impressive financial results
NVIDIA released its quarterly earnings per share of $1.09. This surpassed the consensus estimate of $0.92 by $0.17. The company achieved a return on equity of 23.63% and a net margin of 18.52%. Its quarterly revenue reached $7.19 billion, surpassing analysts’ expectations of $6.52 billion. However, the revenue for the quarter decreased by 13.2% compared to the same period last year. Equities research analysts are predicting that NVIDIA will post an EPS of 6.31 for the year 2023.
Conclusion
Arbor Investment Advisors’ acquisition of a new position in NVIDIA, along with the increased interest from other institutional investors, highlights the growing confidence in the computer hardware maker. Wall Street analysts have expressed positive forecasts, as reflected in their raised price targets for NVIDIA shares. Despite the stock’s price volatility, NVIDIA’s strong financial performance and impressive quarterly earnings suggest a promising outlook for the company’s future.
STA Research (StockTargetAdvisor.com) is a independent Investment Research company that specializes in stock forecasting and analysis with integrated AI, based on our platform stocktargetadvisor.com, EST 2007.
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