Notable Price Action: How Analysts Feel About NVIDIA Corporation After Today’s Gap Up?

Notable Price Action: How Analysts Feel About NVIDIA Corporation After Today's Gap Up?

The stock of NVIDIA Corporation (NASDAQ:NVDA) gapped up by $7 today and has $122.96 target or 40.00% above today’s $87.83 share price. The 5 months technical chart setup indicates low risk for the $45.56 billion company. The gap was reported on Nov, 11 by Barchart.com. If the $122.96 price target is reached, the company will be worth $18.22 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 54.35M shares traded hands or 513.43% up from the average. NVIDIA Corporation (NASDAQ:NVDA) has risen 88.88% since April 11, 2016 and is uptrending. It has outperformed by 82.73% the S&P500.

NVIDIA Corporation (NASDAQ:NVDA) Ratings Coverage

Out of 29 analysts covering Nvidia Corporation (NASDAQ:NVDA), 17 rate it a “Buy”, 1 “Sell”, while 11 “Hold”. This means 59% are positive. Nvidia Corporation has been the topic of 82 analyst reports since August 3, 2015 according to StockzIntelligence Inc. On Wednesday, April 6 the stock rating was downgraded by Stifel Nicolaus to “Neutral”. The firm has “Hold” rating given on Tuesday, November 3 by Needham. The stock of NVIDIA Corporation (NASDAQ:NVDA) has “Outperform” rating given on Monday, August 3 by Macquarie Research. Roth Capital maintained it with “Neutral” rating and $30 target price in Friday, November 6 report. UBS maintained the shares of NVDA in a report on Friday, August 12 with “Buy” rating. Roth Capital upgraded the shares of NVDA in a report on Friday, May 13 to “Buy” rating. Vetr upgraded NVIDIA Corporation (NASDAQ:NVDA) rating on Tuesday, August 18. Vetr has “Buy” rating and $26.23 price target. The stock has “Buy” rating given by Jefferies on Friday, August 12. The stock of NVIDIA Corporation (NASDAQ:NVDA) has “Buy” rating given on Friday, August 12 by Mizuho. The rating was maintained by Deutsche Bank on Friday, August 12 with “Hold”.

According to Zacks Investment Research, “NVIDIA Corporation designs, develops and markets a top-to-bottom family of award-winning 3D graphics processors, graphics processing units and related software that set the standard for performance, quality and features for every type of desktop personal computer user, from professional workstations to low-cost computers. NVIDIA Corporation’s 3D graphics processors are used in a wide variety of applications, including games, the Internet and industrial design.”

Insitutional Activity: The institutional sentiment decreased to 1.02 in 2016 Q2. Its down 0.36, from 1.38 in 2016Q1. The ratio turned negative, as 45 funds sold all NVIDIA Corporation shares owned while 245 reduced positions. 117 funds bought stakes while 178 increased positions. They now own 449.32 million shares or 5.27% less from 474.31 million shares in 2016Q1.
Cambridge Gp Inc reported 154,325 shares or 0% of all its holdings. Aston Asset Ltd owns 9,213 shares or 0.26% of their US portfolio. Ngam Advsr Lp accumulated 109,427 shares or 0.07% of the stock. Blackrock Japan Limited has 0.12% invested in the company for 717,655 shares. Archford Cap Strategies Lc last reported 0.04% of its portfolio in the stock. British Columbia Invest Mngmt has invested 0.15% of its portfolio in NVIDIA Corporation (NASDAQ:NVDA). Spot Trading Ltd Com reported 76,951 shares or 0.06% of all its holdings. Nippon Life Ins owns 48,176 shares or 0.06% of their US portfolio. American Century Incorporated reported 220,974 shares or 0.01% of all its holdings. Blair William Il accumulated 0% or 5,829 shares. Shelton Mngmt accumulated 48,630 shares or 0.2% of the stock. Hl Svcs Limited Com owns 122,314 shares or 0.14% of their US portfolio. The Massachusetts-based Loomis Sayles & Lp has invested 0% in NVIDIA Corporation (NASDAQ:NVDA). Qcm Cayman Limited holds 0.16% or 7,962 shares in its portfolio. Engineers Gate Manager Lp has 0.38% invested in the company for 112,541 shares.

Insider Transactions: Since May 16, 2016, the stock had 0 insider buys, and 16 selling transactions for $58.18 million net activity. Another trade for 82,269 shares valued at $5.41 million was made by COXE TENCH on Friday, September 23. On Tuesday, September 6 HUANG JEN HSUN sold $2.75 million worth of the stock or 43,727 shares. $2.24M worth of NVIDIA Corporation (NASDAQ:NVDA) shares were sold by Shoquist Debora. SEAWELL A BROOKE also sold $1.88M worth of NVIDIA Corporation (NASDAQ:NVDA) on Friday, September 16. Byron Michael also sold $839,180 worth of NVIDIA Corporation (NASDAQ:NVDA) shares. Kress Colette sold $2.37M worth of NVIDIA Corporation (NASDAQ:NVDA) on Monday, August 29. STEVENS MARK A sold $6.81 million worth of stock.

More notable recent NVIDIA Corporation (NASDAQ:NVDA) news were published by: Fool.com which released: “NVIDIA Corporation Delivers Blowout Earnings Results” on November 11, 2016, also Investorplace.com with their article: “3 Big Stock Charts: Walt Disney Co (DIS), Nvidia Corporation (NVDA) and J C …” published on November 11, 2016, Fool.com published: “NVIDIA Corporation Reportedly Planning to Launch GeForce GTX 1080 Ti Soon” on November 04, 2016. More interesting news about NVIDIA Corporation (NASDAQ:NVDA) were released by: Fool.com and their article: “NVIDIA Corporation Scores the Microsoft Surface Studio, Surface Book i7” published on October 29, 2016 as well as Fool.com‘s news article titled: “Better Buy: Sierra Wireless Inc. or Nvidia Corporation?” with publication date: October 24, 2016.

NVDA Company Profile

NVIDIA Corporation (NVIDIA), incorporated on February 24, 1998, is engaged in visual computing. The Firm operates through divisions, including GPU and Tegra Processor. The Firm allows to open up new avenues of exploration, facilitate creativity and discovery, and power breakthroughs in areas like artificial intelligence, virtual reality and autonomous cars. It focuses on markets, such as gaming, professional visualization, datacenter and automotive. The Company’s vertical integration enables to bring together hardware, system software, programmable algorithms, systems and services.

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