Susquehanna Cuts NVIDIA (NASDAQ:NVDA) Price Target to $260.00

NVIDIA (NASDAQ:NVDAGet Rating) had its price objective reduced by equities research analysts at Susquehanna from $280.00 to $260.00 in a report released on Thursday, The Fly reports. Susquehanna’s price target points to a potential upside of 53.17% from the company’s current price.

A number of other research analysts have also recently weighed in on NVDA. Cowen reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of NVIDIA in a report on Tuesday, March 15th. UBS Group cut their target price on shares of NVIDIA from $350.00 to $280.00 and set a “buy” rating for the company in a research note on Monday. Mizuho boosted their target price on shares of NVIDIA from $335.00 to $345.00 and gave the stock a “buy” rating in a research note on Thursday, February 17th. The Goldman Sachs Group started coverage on shares of NVIDIA in a research note on Monday, March 7th. They set a “neutral” rating and a $245.00 target price for the company. Finally, Morgan Stanley started coverage on shares of NVIDIA in a research note on Tuesday, May 3rd. They set an “equal weight” rating and a $217.00 target price for the company. Eight analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $292.85.

NVDA opened at $169.75 on Thursday. NVIDIA has a fifty-two week low of $154.60 and a fifty-two week high of $346.47. The company has a debt-to-equity ratio of 0.41, a quick ratio of 6.05 and a current ratio of 6.65. The company has a fifty day moving average of $215.65 and a two-hundred day moving average of $252.17. The stock has a market capitalization of $494.44 billion, a price-to-earnings ratio of 44.12, a PEG ratio of 2.16 and a beta of 1.59.

NVIDIA (NASDAQ:NVDAGet Rating) last released its quarterly earnings data on Wednesday, May 25th. The computer hardware maker reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.07. NVIDIA had a net margin of 36.24% and a return on equity of 42.99%. The company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.09 billion. During the same quarter in the previous year, the company earned $0.78 earnings per share. The firm’s revenue for the quarter was up 46.4% on a year-over-year basis. On average, equities research analysts forecast that NVIDIA will post 4.71 earnings per share for the current year.

In related news, CEO Jen Hsun Huang sold 292,340 shares of the company’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $237.12, for a total transaction of $69,319,660.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark L. Perry sold 16,716 shares of the company’s stock in a transaction that occurred on Friday, March 18th. The stock was sold at an average price of $263.80, for a total transaction of $4,409,680.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 409,056 shares of company stock worth $101,135,342. Company insiders own 4.47% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Disciplined Investments LLC purchased a new stake in shares of NVIDIA in the 4th quarter valued at approximately $25,000. Rather & Kittrell Inc. purchased a new stake in shares of NVIDIA in the 4th quarter valued at approximately $26,000. Advanced Research Investment Solutions LLC purchased a new stake in shares of NVIDIA in the 4th quarter valued at approximately $29,000. Claremont Financial Group Inc. purchased a new stake in shares of NVIDIA in the 4th quarter valued at approximately $29,000. Finally, Emerson Wealth LLC purchased a new stake in shares of NVIDIA in the 1st quarter valued at approximately $27,000. 55.19% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Company Profile (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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