Nvidia (NVDA): New Buy Recommendation for This Technology Giant
Needham analyst Rajvindra Gill maintained a Buy rating on Nvidia (NVDA &#8211; Research Report) today and set a price target of $170.00. The company&#8217;s shares ...
Needham analyst Rajvindra Gill maintained a Buy rating on Nvidia (NVDA – Research Report) today and set a price target of $170.00. The company’s shares closed yesterday at $139.37.
Gill covers the Technology sector, focusing on stocks such as Nvidia, Pixelworks, and GlobalFoundries Inc. According to TipRanks, Gill has an average return of 12.2% and a 57.00% success rate on recommended stocks.
In addition to Needham, Nvidia also received a Buy from Bernstein’s Stacy Rasgon in a report issued yesterday. However, on August 25, Morgan Stanley maintained a Hold rating on Nvidia (NASDAQ: NVDA).
See today’s best-performing stocks on TipRanks >>
Based on Nvidia’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $6.7 billion and a net profit of $656 million. In comparison, last year the company earned a revenue of $6.51 billion and had a net profit of $2.37 billion
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.
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.
Read More on NVDA: