NVIDIA Corporation (NVDA) is Reiterated by Canaccord Genuity to Buy, Raises Price Target to $ 55

NVIDIA Corporation (NVDA) was Reiterated by Canaccord Genuity to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 55 from a previous price target of $45 . Canaccord Genuity advised their investors in a research report released on Jun 16, 2016.

Many Wall Street Analysts have commented on NVIDIA Corporation. Company shares were Reiterated by Wedbush on Jun 15, 2016 to “Outperform”, Firm has raised the Price Target to $ 52 from a previous price target of $42 .NVIDIA Corporation was Upgraded by Nomura to ” Buy” on Jun 13, 2016. NVIDIA Corporation was Initiated by Goldman to “Buy” on Jun 2, 2016.

On the company’s financial health, NVIDIA Corporation reported $0.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 12, 2016. Analyst had a consensus of $0.41. The company had revenue of $1305.00 million for the quarter, compared to analysts expectations of $1264.72 million. The company’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

NVIDIA Corporation opened for trading at $47.27 and hit $47.77 on the upside on Wednesday, eventually ending the session at $47.36, with a gain of 1.02% or 0.48 points. The heightened volatility saw the trading volume jump to 75,25,868 shares. Company has a market cap of $25,290 M.

In a different news, on Jun 14, 2016, Jen Hsun Huang (President and CEO) sold 40,000 shares at $46.49 per share price. According to the SEC, on May 25, 2016, Mark A Stevens (director) sold 150,000 shares at $45.40 per share price. On May 23, 2016, Michael Byron (Principal Accounting Officer) sold 19,347 shares at $43.38 per share price, according to the Form-4 filing with the securities and exchange commission.

NVIDIA Corporation (NVIDIA) is engaged in visual computing enabling individuals to interact with digital ideas data and entertainment. The Company is engaged in creating NVIDIA-branded products and services offering its processors to original equipment manufacturers (OEMs) and licensing its intellectual property. NVIDIA-branded products and services are visual computing platforms that address four markets: Gaming Enterprise High Performance Computing & Cloud and Automotive. The Company operates in two segments: Graphics Processing Unit (GPU) and Tegra Processor. The Company’s GPU product brands include GeForce for gamers; Quadro for designers; Tesla for researchers learning and big-data analysts; and GRID for cloud-based visual computing users. The Company’s Tegra processors are primarily designed to enable its branded platforms: DRIVE and SHIELD.

NVIDIA Corporation

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