Morgan Stanley launches coverage on NVIDIA (NASDAQ:NVDA)

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Morgan Stanley research analysts have started covering stocks of NVIDIA (NASDAQ: NVDA – Get a review) in a report published on Tuesday, reports The Fly. The company has set an “equal weight” rating on the hardware maker’s stock.

A number of other research analysts have also recently commented on NVDA. Summit Insights moved NVIDIA shares from a “buy” rating to a “hold” rating in a report on Thursday, February 17. Cowen reaffirmed an “outperform” rating and posted a $350.00 price target on NVIDIA shares in a research note on Tuesday, March 15. Truist Financial lowered its price target on NVIDIA shares from $347.00 to $298.00 in a Friday, April 8 research note. StockNews.com took over NVIDIA’s stock coverage in a Thursday, March 31 research note. They issued a “holding” rating for the company. Finally, Tigress Financial raised its price target on NVIDIA stock from $400.00 to $410.00 and gave the stock a “buy” rating in a Tuesday, March 29 research note. Eight research analysts gave the stock a hold rating, twenty-five gave the company a buy rating and one gave the company a strong buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $328.19.

NVDA stock opened at $195.33 on Tuesday. The company’s fifty-day simple moving average is $234.54 and its two-hundred-day simple moving average is $260.97. The company has a quick ratio of 6.05, a current ratio of 6.65 and a leverage ratio of 0.41. The stock has a market capitalization of $568.95 billion, a price-to-earnings ratio of 50.77, a growth price-to-earnings ratio of 2.35 and a beta of 1.59. NVIDIA has a 12-month low of $134.59 and a 12-month high of $346.47.

NVIDIA (NASDAQ:NVDA – Get Rating) last released its quarterly results on Wednesday, February 16. The hardware maker reported EPS of $1.14 for the quarter, beating the Zacks consensus estimate of $1.01 by $0.13. The company posted revenue of $7.64 billion for the quarter, versus $7.43 billion expected by analysts. NVIDIA had a net margin of 36.24% and a return on equity of 42.99%. The company’s revenue for the quarter increased 52.8% year over year. In the same period a year earlier, the company posted earnings per share of $0.64. As a group, equity research analysts expect NVIDIA to post EPS of 4.68 for the current year.

In other NVIDIA news, Director Mark L. Perry sold 16,716 shares of the company in a trade on Friday, March 18. The stock was sold at an average price of $263.80, for a total value of $4,409,680.80. The sale was disclosed in a document filed with the SEC, accessible via this hyperlink. Additionally, director Tench Coxe sold 100,000 shares of the company in a trade on Monday, March 28. The shares were sold at an average price of $274.06, for a total value of $27,406,000.00. The disclosure of this sale can be found here. Insiders sold a total of 409,056 shares of the company worth $101,135,342 in the past ninety days. Company insiders hold 4.23% of the company’s shares.

Several hedge funds and other institutional investors have recently bought and sold shares of NVDA. Disciplined Investments LLC acquired a new stake in NVIDIA stock during Q4 worth approximately $25,000. Rather & Kittrell Inc. acquired a new stake in NVIDIA stock during Q4 worth approximately $26,000. Emerson Wealth LLC acquired a new stake in NVIDIA stock during Q1 worth approximately $27,000. Advanced Research Investment Solutions LLC acquired a new stake in NVIDIA stock during Q4 worth approximately $29,000. Finally, Claremont Financial Group Inc. acquired a new stake in NVIDIA stock during Q4 worth approximately $29,000. Institutional investors and hedge funds hold 55.19% of the company’s shares.

NVIDIA Company Profile (Get an evaluation)

NVIDIA Corporation provides graphics, computing, and networking solutions in the United States, Taiwan, China, and around the world. The Company’s Graphics segment offers GeForce GPUs for games and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPU for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for creating 3D designs and virtual worlds.

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