NVIDIA Corporation (NVDA) has risen sharply, recording gains of 13.88% in the past 4 weeks. However, the stock has corrected -1.24% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 13.45% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
NVIDIA Corporation is up 40.81% in the last 3-month period. Year-to-Date the stock performance stands at 90.08%. The stock has recorded a 20-day Moving Average of 6.57% and the 50-Day Moving Average is 18.04%.
NVIDIA Corporation (NASDAQ:NVDA): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $62.07 and $61.80 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $62.73. The buying momentum continued till the end and the stock did not give up its gains. It closed at $62.26, notching a gain of 0.26% for the day. The total traded volume was 7,288,978 . The stock had closed at $62.10 on the previous day.
Also, Equity Analysts at the Brokerage Firm, Argus Research, maintains their rating on the shares of NVIDIA Corporation (NASDAQ:NVDA). Argus Research has a Buy rating on the shares. As per the latest research report, the brokerage house raises the price target to $72 per share from a prior target of $54. The rating by the firm was issued on August 15, 2016.
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 Companys 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 Companys Tegra processors are primarily designed to enable its branded platforms: DRIVE and SHIELD.