Mizuho Securities Believes Nvidia (NASDAQ: NVDA) Still Has Room to Grow

Mizuho Securities analyst Vijay Rakesh maintained a Buy rating on Nvidia (NVDAResearch Report) on January 12 and set a price target of $605.00. The company’s shares closed last Tuesday at $521.01, close to its 52-week high of $589.07.

According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 27.9% and a 70.4% success rate. Rakesh covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Allegro MicroSystems, and NXP Semiconductors.

Currently, the analyst consensus on Nvidia is a Moderate Buy with an average price target of $599.24, representing a 15.1% upside. In a report issued on January 4, RBC Capital also maintained a Buy rating on the stock with a $610.00 price target.

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Nvidia’s market cap is currently $322.5B and has a P/E ratio of 84.20. The company has a Price to Book ratio of 38.45.

Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NVDA in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands, which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users. The Tegra Processor segment integrates an entire computer onto a single chip, and incorporates GPUs and multi-core CPUs to drive supercomputing for autonomous robots, drones, and cars, as well as for consoles and mobile gaming and entertainment devices. The company was founded by Jen-Hsun Huang, Chris A. Malachowsky, and Curtis R. Priem in January 1993 and is headquartered in Santa Clara, CA.