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

NVIDIA (NASDAQ:NVDA) had its price target lowered by stock analysts at DA Davidson from $125.00 to $120.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the computer hardware maker’s stock. DA Davidson’s price objective would suggest a potential upside of 8.47% from the company’s previous close.

A number of other analysts also recently commented on NVDA. Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Summit Insights downgraded NVIDIA from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Citigroup decreased their target price on NVIDIA from $163.00 to $150.00 and set a “buy” rating on the stock in a report on Friday. TD Cowen reduced their target price on NVIDIA from $175.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Finally, Mizuho dropped their price target on NVIDIA from $175.00 to $168.00 and set an “outperform” rating on the stock in a research note on Friday, March 14th. Six research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $168.26.

NVIDIA Price Performance

Shares of NVIDIA stock traded down $0.30 on Monday, hitting $110.63. The company had a trading volume of 191,779,913 shares, compared to its average volume of 313,854,630. NVIDIA has a 52 week low of $75.61 and a 52 week high of $195.95. The company has a market cap of $2.70 trillion, a PE ratio of 43.54, a PEG ratio of 1.76 and a beta of 1.96. The business has a 50-day simple moving average of $118.95 and a 200-day simple moving average of $130.40. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last issued its quarterly 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. Research analysts expect that NVIDIA will post 2.77 EPS for the current fiscal year.

Insider Activity

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the 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 transaction, the insider now owns 479,428 shares in the company, valued at approximately $55,997,190.40. This represents a 0.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction dated Friday, March 21st. The shares were 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 owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,147 shares of company stock valued at $17,133,207. Insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hickory Point Bank & Trust bought a new stake in shares of NVIDIA in the 4th quarter worth about $2,272,000. Capital Performance Advisors LLP grew its position in NVIDIA by 59.3% during the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock worth $3,586,000 after acquiring an additional 9,944 shares during the last quarter. Ethos Financial Group LLC increased its holdings in NVIDIA by 24.1% during the 4th quarter. Ethos Financial Group LLC now owns 32,092 shares of the computer hardware maker’s stock valued at $4,312,000 after purchasing an additional 6,241 shares in the last quarter. Metis Global Partners LLC raised its position in NVIDIA by 3.6% in the 4th quarter. Metis Global Partners LLC now owns 1,464,826 shares of the computer hardware maker’s stock valued at $196,711,000 after purchasing an additional 50,978 shares during the last quarter. Finally, Palisade Asset Management LLC boosted its stake in 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 in the last quarter. 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.