The market envies NVIDIA Corporation (NASDAQ:NVDA)
On Friday, NVIDIA Corporation (NASDAQ:NVDA) stock witnessed some unusually massive option-trading activity. Stock-investors ended up buying 16,255 put-options on NVDA. This is almost a 225% increase in comparison to the standard 4,998 put-options daily volume.
Recently, a large number of analysts have weighed in the company shares. In a note to investors, Jeffries Group analysts’ increased their price-target of NVIDIA from $14.00 to $1500 and have set a “hold” rating on the stock. Separately, Deutsche Bank analysts have also increased the price-target on NVDA shares from $13.00 to $16.00 and now have set a “hold”-rating on the stock. Nomura analysts reiterated their “buy” rating on NVDA shares and have moved the stock price target from $15.00 to $17.00.
Nineteen analysts have assigned a “hold” rating while one has assigned a “sell”
rating and a “buy” rating has been issued by 6 analysts. The average analyst consensus is a “buy”.
In Friday’s trading session, NVIDIA Corporation (NASDAQ:NVDA) traded down 1.42%. The opening price of the shares was $14.12, which touched an intraday high of $14.71 and closed at $14.11. The company has a market cap of $8.37B and a 16.24 price-to-earnings ratio.
The company last posted its earnings for the quarter on 8 August. NVDA reported earnings per share of $0.23 which topped the average analyst projection of $0.13. For the quarter, the company had revenue of $977.20M in comparison to the average analyst estimate of $976.43 million. In the same quarter in 2012, NVDA posted earnings per share of $0.27.
Its revenue dropped 6.4% on a y-o-y basis. The average analyst projection is that, for the current financial year, NVIDIA Corporation (NASDAQ:NVDA) will post earnings per share of $0.73. Very recently, the company also announced its quarterly dividend. This is scheduled for 13 September 2013.