DA Davidson Lowers NVIDIA (NASDAQ:NVDA) Price Target to $120.00

NVIDIA (NASDAQ:NVDA) had its price objective reduced by equities research analysts at DA Davidson from $125.00 to $120.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the computer hardware maker’s stock. DA Davidson’s price target indicates a potential upside of 6.95% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Barclays increased their target price on NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Mizuho dropped their target price on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. DZ Bank raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Finally, KeyCorp set a $190.00 price objective on NVIDIA in a report on Wednesday, March 19th. Six equities research 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $168.26.

NVIDIA Trading Up 1.3 %

Shares of NVIDIA stock opened at $112.20 on Monday. NVIDIA has a 52 week low of $75.61 and a 52 week high of $195.95. The stock has a market capitalization of $2.74 trillion, a PE ratio of 44.16, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. The stock has a 50 day moving average price of $118.34 and a two-hundred day moving average price of $130.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

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

Insider Activity

In other news, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the transaction, the director now directly owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. This 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 accessible through the SEC website. Also, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $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 ninety days, insiders have sold 147,147 shares of company stock worth $17,133,207. Corporate insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

A number of hedge funds have recently modified their holdings of the company. Tacita Capital Inc acquired a new stake in shares of NVIDIA in the 4th quarter valued at $28,000. Legend Financial Advisors Inc. acquired a new position in shares of NVIDIA during the 4th quarter worth $34,000. Vision Financial Markets LLC purchased a new stake in NVIDIA during the fourth quarter worth $38,000. Luken Investment Analytics LLC purchased a new stake in shares of NVIDIA in the 4th quarter worth about $40,000. Finally, Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA during the fourth quarter valued at $46,000. Hedge funds and other institutional investors 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.