NVIDIA Corporation (NVDA) is Initiated by SunTrust to Neutral, Price Target at $59

NVIDIA Corporation (NVDA) was Initiated by SunTrust to “Neutral” and the brokerage firm has set the Price Target at $59. SunTrust advised their investors in a research report released on Sep 20, 2016.

Many Wall Street Analysts have commented on NVIDIA Corporation. Company shares were Upgraded by RBC Capital Mkts on Aug 12, 2016 to ” Outperform”, Firm has raised the Price Target to $ 72 from a previous price target of $47 .Company shares were Reiterated by Barclays on Aug 12, 2016 to “Underweight”, Firm has raised the Price Target to $ 54 from a previous price target of $40 .Company shares were Reiterated by Mizuho on Aug 12, 2016 to “Buy”, Firm has raised the Price Target to $ 66 from a previous price target of $60 .

On the company’s financial health, NVIDIA Corporation reported $0.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 11, 2016. Analyst had a consensus of $0.48. The company had revenue of $1428.00 million for the quarter, compared to analysts expectations of $1352.71 million. The company’s revenue was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS.

NVIDIA Corporation opened for trading at $62.91 and hit $63.25 on the upside on Friday, eventually ending the session at $62.84, with a gain of 0.24% or 0.15 points. The heightened volatility saw the trading volume jump to 22,561,149 shares. Company has a market cap of $33,619 M.

In a different news, on Sep 19, 2016, A Brooke Seawell (director) sold 30,000 shares at $62.52 per share price. According to the SEC, on Sep 8, 2016, Jen Hsun Huang (President and CEO) sold 43,727 shares at $62.81 per share price. On Sep 2, 2016, Michael Byron (Principal Accounting Officer) sold 409 shares at $63.35 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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