Fintel reports that on August 6, 2024, New Street Research upgraded their outlook for NVIDIA (NasdaqGS:NVDA) from Neutral to Buy.
Analyst Price Forecast Suggests 38.97% Upside
As of August 5, 2024, the average one-year price target for NVIDIA is $139.59/share. The forecasts range from a low of $50.80 to a high of $210.00. The average price target represents an increase of 38.97% from its latest reported closing price of $100.45 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for NVIDIA is 36,874MM, a decrease of 53.78%. The projected annual non-GAAP EPS is 5.70.
What is the Fund Sentiment?
There are 6,356 funds or institutions reporting positions in NVIDIA. This is an increase of 306 owner(s) or 5.06% in the last quarter. Average portfolio weight of all funds dedicated to NVDA is 3.01%, an increase of 29.59%. Total shares owned by institutions increased in the last three months by 78.22% to 3,229,855K shares. 
The put/call ratio of NVDA is 0.98, indicating a bullish outlook.
What are Other Shareholders Doing?
Bank of New York Mellon holds 182,623K shares representing 0.74% ownership of the company. In its prior filing, the firm reported owning 19,140K shares , representing an increase of 89.52%. The firm decreased its portfolio allocation in NVDA by 85.88% over the last quarter.
Jennison Associates holds 107,037K shares representing 0.44% ownership of the company. In its prior filing, the firm reported owning 12,139K shares , representing an increase of 88.66%. The firm decreased its portfolio allocation in NVDA by 38.53% over the last quarter.
Baillie Gifford holds 82,059K shares representing 0.33% ownership of the company. In its prior filing, the firm reported owning 10,302K shares , representing an increase of 87.45%. The firm decreased its portfolio allocation in NVDA by 57.55% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 74,656K shares representing 0.30% ownership of the company. In its prior filing, the firm reported owning 73,648K shares , representing an increase of 1.35%. The firm increased its portfolio allocation in NVDA by 68.62% over the last quarter.
Sumitomo Mitsui Trust Holdings holds 64,056K shares representing 0.26% ownership of the company. In its prior filing, the firm reported owning 6,895K shares , representing an increase of 89.24%. The firm increased its portfolio allocation in NVDA by 36.56% over the last quarter.
NVIDIA Background Information
(This description is provided by the company.)
NVIDIA is the pioneer of GPU-accelerated computing. The Company specializes in products and platforms for the large, growing markets of gaming, professional visualization, data center, and automotive. Its creations are loved by the most demanding computer users in the world – gamers, designers, and scientists. And its work is at the center of the most consequential mega-trends in technology.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
