NVIDIA (NASDAQ:NVDA) Announces Quarterly Earnings Results, Beats Expectations By $0.22 EPS

NVIDIA (NASDAQ:NVDA) released its quarterly earnings results on Thursday. The computer hardware maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.22, RTT News reports. NVIDIA had a return on equity of 22.02% and a net margin of 24.08%. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same period in the prior year, the firm posted $0.80 EPS. NVIDIA updated its Q1 2021
After-Hours guidance to EPS.

NVDA traded up $19.01 during trading hours on Friday, hitting $289.79. The stock had a trading volume of 26,030,581 shares, compared to its average volume of 8,377,557. NVIDIA has a 1 year low of $132.60 and a 1 year high of $294.97. The company’s fifty day simple moving average is $245.31 and its 200 day simple moving average is $203.66. The stock has a market cap of $177.54 billion, a PE ratio of 74.12, a price-to-earnings-growth ratio of 3.88 and a beta of 2.04. The company has a quick ratio of 7.71, a current ratio of 8.42 and a debt-to-equity ratio of 0.22.

In related news, Director A Brooke Seawell sold 629 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $220.50, for a total value of $138,694.50. Following the completion of the transaction, the director now directly owns 1,592 shares of the company’s stock, valued at approximately $351,036. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 6,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $248.13, for a total transaction of $1,488,780.00. Following the completion of the transaction, the chief financial officer now owns 165,288 shares of the company’s stock, valued at $41,012,911.44. The disclosure for this sale can be found here. Insiders sold a total of 51,785 shares of company stock worth $11,454,424 over the last 90 days. 4.64% of the stock is currently owned by company insiders.

A number of equities analysts have issued reports on the stock. Wedbush reaffirmed a “buy” rating on shares of NVIDIA in a report on Friday. Cascend Securities increased their target price on shares of NVIDIA from $280.00 to $300.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley boosted their price target on shares of NVIDIA from $259.00 to $304.00 and gave the stock an “overweight” rating in a report on Friday. Jefferies Financial Group restated a “buy” rating and set a $315.00 price target (up from $255.00) on shares of NVIDIA in a report on Wednesday. Finally, Royal Bank of Canada upped their price objective on shares of NVIDIA from $251.00 to $301.00 and gave the stock an “outperform” rating in a research report on Monday. One analyst has rated the stock with a sell rating, twelve have given a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company’s stock. NVIDIA has an average rating of “Buy” and an average price target of $255.75.

About NVIDIA

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.

Read More: What does a neutral rating on stocks mean?

Earnings History for NVIDIA (NASDAQ:NVDA)

Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.