DA Davidson Has Lowered Expectations for NVIDIA (NASDAQ:NVDA) Stock Price

NVIDIA (NASDAQ:NVDA) had its price objective decreased by research analysts at DA Davidson from $135.00 to $125.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the computer hardware maker’s stock. DA Davidson’s target price points to a potential upside of 6.20% from the company’s previous close.

Several other research firms have also commented on NVDA. Susquehanna restated a “positive” rating and issued a $180.00 price objective on shares of NVIDIA in a research report on Wednesday. Citigroup lifted their price target on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Benchmark reiterated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a report on Wednesday. Wedbush restated an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a report on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $171.51.

NVIDIA Stock Down 0.7 %

Shares of NVDA opened at $117.70 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The business’s 50 day simple moving average is $126.92 and its 200-day simple moving average is $131.02. The stock has a market capitalization of $2.87 trillion, a price-to-earnings ratio of 46.32, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. NVIDIA has a 1 year low of $75.61 and a 1 year high of $153.13.

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

Insider Buying and Selling

In other news, CFO Colette Kress sold 66,660 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Aarti S. Shah sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the sale, the director now directly owns 53,208 shares in the company, valued at approximately $6,300,891.36. The trade was a 27.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 179,109 shares of company stock valued at $22,117,015 in the last three months. 4.23% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NVIDIA

Hedge funds have recently made changes to their positions in the business. FMR LLC lifted its position in shares of NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock valued at $134,877,735,000 after acquiring an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC raised its position in shares of NVIDIA by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock worth $74,439,273,000 after purchasing an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock valued at $55,237,367,000 after purchasing an additional 3,721,331 shares during the last quarter. Norges Bank purchased a new position in NVIDIA in the 4th quarter worth about $43,515,504,000. Finally, Northern Trust Corp increased its stake in NVIDIA by 15.8% in 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 in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

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.