New Buy Rating for Nvidia (NVDA), the Technology Giant

By Austin Angelo

Morgan Stanley analyst Joseph Moore maintained a Buy rating on Nvidia (NVDAResearch Report) today and set a price target of $363.00. The company’s shares closed last Friday at $361.05, close to its 52-week high of $363.72.

According to TipRanks.com, Moore is a 5-star analyst with an average return of 9.5% and a 56.0% success rate. Moore covers the Technology sector, focusing on stocks such as Texas Instruments, Western Digital, and Lam Research.

Currently, the analyst consensus on Nvidia is a Strong Buy with an average price target of $380.32, implying a 7.7% upside from current levels. In a report issued on May 13, Rosenblatt Securities also maintained a Buy rating on the stock with a $340.00 price target.

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The company has a one-year high of $363.72 and a one-year low of $132.60. Currently, Nvidia has an average volume of 15.72M.

Based on the recent corporate insider activity of 72 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. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands, which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users. The Tegra Processor segment integrates an entire computer onto a single chip, and incorporates GPUs and multi-core CPUs to drive supercomputing for autonomous robots, drones, and cars, as well as for consoles and mobile gaming and entertainment devices. 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.