Raymond James Issues Pessimistic Forecast for NVIDIA (NASDAQ:NVDA) Stock Price

NVIDIA (NASDAQ:NVDA - Get Free Report) had its price objective reduced by investment analysts at Raymond James from $170.00 to $150.00 in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm currently has a "strong-buy" rating on the computer hardware maker's stock. Raymond James' target price would suggest a potential upside of 48.04% from the company's previous close.

A number of other research analysts also recently commented on NVDA. TD Cowen dropped their target price on shares of NVIDIA from $175.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. DZ Bank upgraded shares of NVIDIA from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th. Summit Insights downgraded shares of NVIDIA from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Finally, Wedbush restated an "outperform" rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $165.51.

NVIDIA Stock Down 3.0 %

NVDA traded down $3.16 during trading hours on Wednesday, hitting $101.33. 290,593,259 shares of the company's stock were exchanged, compared to its average volume of 312,017,771. The firm has a market cap of $2.47 trillion, a P/E ratio of 39.88, 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 has a 12-month low of $75.61 and a 12-month high of $195.95. The firm has a 50 day moving average of $117.19 and a 200 day moving average of $129.89.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion during 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%. Analysts predict that NVIDIA will post 2.77 EPS for the current fiscal year.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Aarti S. Shah sold 20,000 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the transaction, the director now owns 53,208 shares in the company, valued at $6,300,891.36. This trade represents a 27.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction on 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 sale, the director now directly owns 251,044 shares of the company's stock, valued at $28,993,071.56. This represents a 17.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock valued at $17,133,207 in the last 90 days. 4.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NVIDIA

A number of hedge funds have recently bought and sold shares of the business. DiNuzzo Private Wealth Inc. increased its stake in NVIDIA by 0.8% during the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker's stock worth $1,157,000 after acquiring an additional 71 shares during the period. Smart Portfolios LLC increased its position 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 worth $341,000 after purchasing an additional 75 shares during the period. Palisade Asset Management LLC increased its position in shares of NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker's stock worth $1,866,000 after purchasing an additional 75 shares during the period. Baker Boyer National Bank raised its stake in NVIDIA by 3.3% in the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker's stock valued at $323,000 after purchasing an additional 76 shares in the last quarter. Finally, Kwmg LLC lifted its position in NVIDIA by 0.6% during the fourth quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker's stock worth $1,755,000 after purchasing an additional 77 shares during the period. 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.