TD Cowen Has Lowered Expectations for NVIDIA (NASDAQ:NVDA) Stock Price

NVIDIA (NASDAQ:NVDA) had its price target cut by investment analysts at TD Cowen from $175.00 to $140.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the computer hardware maker’s stock. TD Cowen’s price objective suggests a potential upside of 30.15% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Susquehanna restated a “positive” rating and set a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. DA Davidson dropped their target price on NVIDIA from $135.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. Benchmark reiterated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Finally, Needham & Company LLC reissued a “buy” rating and set a $160.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Six investment analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $169.01.

NVIDIA Price Performance

NASDAQ:NVDA opened at $107.57 on Wednesday. The stock has a 50 day moving average of $119.10 and a two-hundred day moving average of $130.45. NVIDIA has a 12 month low of $75.61 and a 12 month high of $195.95. The firm has a market cap of $2.62 trillion, a P/E ratio of 42.33, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. On average, analysts expect that NVIDIA will post 2.77 earnings per share for the current fiscal year.

Insider Activity at NVIDIA

In related news, Director Robert K. Burgess sold 53,324 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the completion of the sale, the director now owns 251,044 shares in the company, valued at $28,993,071.56. This trade represents a 17.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the sale, the director now directly owns 17,279 shares in the company, valued at approximately $1,900,690. This represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock worth $17,133,207 in the last quarter. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

A number of institutional investors have recently bought and sold shares of NVDA. Norges Bank purchased a new position in NVIDIA during the 4th quarter valued at about $43,515,504,000. GAMMA Investing LLC increased its stake in shares of NVIDIA by 12,173.2% during the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock worth $5,293,039,000 after purchasing an additional 48,439,859 shares in the last quarter. Clear Street Derivatives LLC acquired a new position in shares of NVIDIA during the 3rd quarter worth approximately $4,589,905,000. Northern Trust Corp raised its position in shares of NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in NVIDIA by 14,641.2% in the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after buying an additional 34,441,082 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Company Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The 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; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.