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

NVIDIA (NASDAQ:NVDA - Get Free Report) had its target price lowered by Rosenblatt Securities from $220.00 to $200.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the computer hardware maker's stock. Rosenblatt Securities' target price would indicate a potential upside of 97.38% from the stock's current price.

A number of other research firms also recently weighed in on NVDA. Summit Insights downgraded NVIDIA from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. DA Davidson lowered their price objective on shares of NVIDIA from $125.00 to $120.00 and set a "neutral" rating for the company in a report on Monday. HSBC lowered shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a report on Thursday, April 3rd. Benchmark reissued a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, Citigroup reduced their price objective on NVIDIA from $163.00 to $150.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $165.51.

NVIDIA Price Performance

NVDA stock traded down $3.16 during midday trading on Wednesday, reaching $101.33. The company had a trading volume of 290,593,259 shares, compared to its average volume of 312,556,411. The firm has a 50-day moving average price of $117.19 and a 200-day moving average price of $129.89. 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 company has a market capitalization of $2.47 trillion, a P/E ratio of 39.88, a P/E/G ratio of 1.76 and a beta of 1.96. NVIDIA has a 1 year low of $75.61 and a 1 year high of $195.95.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released 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. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $39.33 billion for the quarter, compared to analysts' expectations of $38.16 billion. On average, research analysts anticipate that NVIDIA will post 2.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, 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 sale, the chief financial officer now directly owns 3,085,765 shares of the company's stock, 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 filing with the SEC, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the transaction, the insider now owns 479,428 shares in the company, valued at $55,997,190.40. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock worth $17,133,207 in the last three months. Insiders own 4.23% of the company's stock.

Institutional Trading of NVIDIA

Several large investors have recently modified their holdings of NVDA. Wealth Group Ltd. boosted its stake in shares of NVIDIA by 5.0% during the 3rd quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker's stock worth $680,000 after acquiring an additional 265 shares during the last quarter. SOA Wealth Advisors LLC. grew its holdings in NVIDIA by 0.3% during the third quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker's stock valued at $14,650,000 after purchasing an additional 350 shares during the period. Swedbank AB grew its holdings in NVIDIA by 4.8% during the third quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker's stock valued at $4,965,526,000 after purchasing an additional 1,868,358 shares during the period. Donaldson Capital Management LLC increased its position in NVIDIA by 31.6% in the third quarter. Donaldson Capital Management LLC now owns 54,729 shares of the computer hardware maker's stock worth $6,646,000 after buying an additional 13,126 shares in the last quarter. Finally, Retirement Financial Solutions LLC raised its stake in shares of NVIDIA by 3.2% in the third quarter. Retirement Financial Solutions LLC now owns 3,489 shares of the computer hardware maker's stock worth $424,000 after buying an additional 109 shares during the period. 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.