Rosenblatt Securities Issues Pessimistic Forecast for NVIDIA (NASDAQ:NVDA) Stock Price

NVIDIA (NASDAQ:NVDA) had its target price cut by equities research analysts at Rosenblatt Securities from $220.00 to $200.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the computer hardware maker’s stock. Rosenblatt Securities’ price objective would suggest a potential upside of 97.38% from the stock’s current price.

NVDA has been the subject of several other research reports. Truist Financial upped their target price on shares of NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Morgan Stanley set a $162.00 target price on shares of NVIDIA and gave the stock an “overweight” rating in a report on Wednesday, March 19th. HSBC lowered shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a report on Thursday, April 3rd. Finally, Raymond James dropped their target price on NVIDIA from $170.00 to $150.00 and set a “strong-buy” rating on the stock in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $165.51.

NVIDIA Trading Down 3.0 %

NVDA stock opened at $101.33 on Wednesday. The business has a fifty day moving average of $117.19 and a 200-day moving average of $129.89. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market cap of $2.47 trillion, a P/E ratio of 39.88, a PEG ratio of 1.76 and a beta of 1.96. NVIDIA has a twelve month low of $75.61 and a twelve month high of $195.95.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The firm had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, equities research analysts expect that NVIDIA will post 2.77 EPS for the current year.

Insider Activity

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the sale, the insider now owns 479,428 shares in the company, valued at $55,997,190.40. The trade was a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Colette Kress sold 66,660 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,147 shares of company stock valued at $17,133,207. 4.23% of the stock is currently owned by insiders.

Institutional Trading of NVIDIA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. raised its holdings in NVIDIA by 0.8% during the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock worth $1,157,000 after buying an additional 71 shares during the last quarter. Smart Portfolios LLC lifted its holdings in shares of NVIDIA by 2.7% in the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after purchasing an additional 75 shares in the last quarter. Palisade Asset Management LLC boosted its position in shares of NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after buying an additional 75 shares during the last quarter. Baker Boyer National Bank grew its holdings in NVIDIA by 3.3% during the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock worth $323,000 after buying an additional 76 shares in the last quarter. Finally, Kwmg LLC raised its position in NVIDIA by 0.6% in the 4th quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker’s stock valued at $1,755,000 after buying an additional 77 shares during the last quarter. 65.27% of the stock is owned by 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.