Needham Believes Nvidia (NASDAQ: NVDA) Won’t Stop Here

In a report released today, Rajvindra Gill from Needham maintained a Buy rating on Nvidia (NVDAResearch Report), with a price target of $600.00. The company’s shares closed last Tuesday at $552.84, close to its 52-week high of $559.75.

According to TipRanks.com, Gill is a 4-star analyst with an average return of 5.4% and a 55.4% success rate. Gill covers the Technology sector, focusing on stocks such as Sequans Communications S A, Everspin Technologies, and Smart Global Holdings.

Nvidia has an analyst consensus of Strong Buy, with a price target consensus of $536.25, a -0.5% downside from current levels. In a report issued on August 18, Wedbush also maintained a Buy rating on the stock with a $500.00 price target.

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Nvidia’s market cap is currently $341.1B and has a P/E ratio of 96.70. The company has a Price to Book ratio of 47.25.

Based on the recent corporate insider activity of 84 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.