NVIDIA (NASDAQ:NVDA) Price Target Cut to $190.00

NVIDIA (NASDAQ:NVDAGet Rating) had its price target decreased by Wedbush from $300.00 to $190.00 in a report released on Thursday, The Fly reports. Wedbush’s price target suggests a potential upside of 12.83% from the stock’s current price.

Several other brokerages also recently issued reports on NVDA. Susquehanna Bancshares lowered their price target on NVIDIA from $320.00 to $280.00 and set a “na” rating for the company in a report on Wednesday. Morgan Stanley began coverage on NVIDIA in a report on Tuesday, May 3rd. They issued an “equal weight” rating and a $217.00 price target for the company. Barclays lowered their price target on NVIDIA from $350.00 to $295.00 and set an “overweight” rating for the company in a report on Monday, April 25th. Cowen reiterated an “outperform” rating and issued a $350.00 price target on shares of NVIDIA in a report on Tuesday, March 15th. Finally, Citigroup upgraded NVIDIA from a “neutral” rating to a “buy” rating and set a $280.00 price target for the company in a report on Wednesday, April 13th. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $315.12.

Shares of NVDA opened at $168.40 on Thursday. The company has a current ratio of 6.65, a quick ratio of 6.05 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $490.51 billion, a P/E ratio of 43.77, a price-to-earnings-growth ratio of 2.18 and a beta of 1.59. The stock’s fifty day simple moving average is $222.01 and its 200 day simple moving average is $255.96. NVIDIA has a twelve month low of $135.43 and a twelve month high of $346.47.

NVIDIA (NASDAQ:NVDAGet Rating) last issued its earnings results on Wednesday, February 16th. The computer hardware maker reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.13. The business had revenue of $7.64 billion for the quarter, compared to analyst estimates of $7.43 billion. NVIDIA had a return on equity of 42.99% and a net margin of 36.24%. The business’s quarterly revenue was up 52.8% on a year-over-year basis. During the same period last year, the company posted $0.64 EPS. Sell-side analysts predict that NVIDIA will post 4.71 earnings per share for the current year.

In other news, Director Tench Coxe sold 100,000 shares of the company’s stock in a transaction on Monday, March 28th. The shares were sold at an average price of $274.06, for a total value of $27,406,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 292,340 shares of the stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $237.12, for a total transaction of $69,319,660.80. The disclosure for this sale can be found here. Insiders have sold a total of 409,056 shares of company stock valued at $101,135,342 in the last 90 days. 4.47% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. OLD Mission Capital LLC purchased a new stake in NVIDIA during the third quarter valued at about $293,000. Keudell Morrison Wealth Management lifted its holdings in NVIDIA by 305.2% during the third quarter. Keudell Morrison Wealth Management now owns 2,273 shares of the computer hardware maker’s stock valued at $471,000 after purchasing an additional 1,712 shares during the last quarter. Center for Financial Planning Inc. lifted its holdings in NVIDIA by 570.6% during the third quarter. Center for Financial Planning Inc. now owns 228 shares of the computer hardware maker’s stock valued at $47,000 after purchasing an additional 194 shares during the last quarter. New World Advisors LLC lifted its holdings in NVIDIA by 227.3% during the third quarter. New World Advisors LLC now owns 1,509 shares of the computer hardware maker’s stock valued at $343,000 after purchasing an additional 1,048 shares during the last quarter. Finally, EagleClaw Capital Managment LLC lifted its holdings in NVIDIA by 292.7% during the third quarter. EagleClaw Capital Managment LLC now owns 49,804 shares of the computer hardware maker’s stock valued at $10,318,000 after purchasing an additional 37,123 shares during the last quarter. Institutional investors own 55.19% of the company’s stock.

About NVIDIA (Get Rating)

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

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