NVIDIA's Price Target Hiked to $790 by Tigress Financial

On a recent Thursday, Tigress Financial, a noted firm of equity researchers, revised up their price target for NVIDIA (NASDAQ: NVDA) from the former figure of $560.00 to a more ambitious $790.00. This update, featured in a Benzinga report, affirms a ‘buy’ stance on the tech giant's shares, forecasting a 32.79% growth from their last closing rate.

Broader Analyst Consensus

Various other research rms have recently issued their opinions on NVIDIA's stock. Rosenblatt Securities reiterated their 'buy' rating, while Truist Financial raised their target price from $668.00 to $674.00, maintaining a 'buy' status for NVIDIA. Furthermore, KeyCorp increased their target price to $740.00 from $650.00, endorsing the stock with an 'overweight' rating.

On another note, DA Davidson initiated their coverage on NVIDIA, setting a 'neutral' rating and a target price of $410.00. Meanwhile, JPMorgan Chase & Co. increased their target price from $600.00 to $650.00, also giving NVIDIA an 'overweight' rating. Out of the analyst sphere, NVIDIA has acquired one 'sell' rating, four 'hold' ratings, thirty-three 'buy' ratings, and one 'strong buy' rating. The average consensus target price stands at $604.03, as per data from MarketBeat.com.

Insider Transactions at NVIDIA

Recent insider trading at NVIDIA has seen several directors sell shares in the company. Dawn E. Hudson let go of 1,000 shares at a price of $492.52 each, and John Dabiri sold 218 shares at $484.99 apiece. After these transactions, the directors still hold significant stakes in NVIDIA's equity, indicating ongoing vested interests in the company's performance.

Investment Activity and NVIDIA's Market Position

Large institutional investors have adjusted their stakes in NVIDIA, with associative buying, selling, and the initiation of new stakes. Notably, insiders have collectively sold over 155,000 company shares, valued at nearly $79.81 million over the course of the last three months.

NVIDIA's shares had a bullish opening at $594.91 on the day of the announcement, with a market cap standing at a remarkable $1.47 trillion. The company's financial health appears robust, with decent equity returns and a solid net margin. NVIDIA remains an influential player in the technology sector with a far reach across the United States, Taiwan, China, and globally. It continues to innovate in graphics, compute, and networking solutions, including contributions to the gaming, enterprise workstation graphics, automotive, and virtual world-building sectors.

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