Oppenheimer Reaffirms Their Buy Rating on Nvidia (NVDA)

By Austin Angelo

In a report issued on January 7, Rick Schafer from Oppenheimer maintained a Buy rating on Nvidia (NVDAResearch Report), with a price target of $600.00. The company’s shares closed last Monday at $544.86, close to its 52-week high of $589.07.

According to TipRanks.com, Schafer is a top 100 analyst with an average return of 24.6% and a 79.2% success rate. Schafer covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Akoustis Technologies, and NXP Semiconductors.

Nvidia has an analyst consensus of Moderate Buy, with a price target consensus of $596.65, representing an 11.2% upside. In a report issued on December 31, Benchmark Co. also upgraded the stock to Buy with a $275.00 price target.

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Nvidia’s market cap is currently $337.3B and has a P/E ratio of 86.90. The company has a Price to Book ratio of 39.70.

Based on the recent corporate insider activity of 75 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. Most recently, in September 2020, Dawn Hudson, a Director at NVDA sold 48,000 shares for a total of $24,843,163.

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.