DA Davidson Cuts NVIDIA (NASDAQ:NVDA) Price Target to $125.00

NVIDIA (NASDAQ:NVDA) had its price target cut by investment analysts at DA Davidson from $135.00 to $125.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the computer hardware maker’s stock. DA Davidson’s price objective indicates a potential upside of 5.50% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price objective on shares of NVIDIA in a research note on Wednesday. Rosenblatt Securities reiterated a “buy” rating and set a $220.00 target price on shares of NVIDIA in a report on Wednesday. JPMorgan Chase & Co. increased their target price on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Phillip Securities reiterated an “accumulate” rating and set a $160.00 target price (up previously from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Finally, Bank of America reiterated a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a research note on Wednesday. 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 stock. According to data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average target price of $171.51.

NVIDIA Stock Performance

Shares of NVIDIA stock traded up $0.97 during trading on Thursday, reaching $118.49. The company’s stock had a trading volume of 164,908,704 shares, compared to its average volume of 317,425,616. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The business’s fifty day moving average price is $127.71 and its 200-day moving average price is $131.12. The firm has a market cap of $2.89 trillion, a price-to-earnings ratio of 46.76, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. NVIDIA has a one year low of $75.61 and a one year high of $153.13.

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 firm had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. As a group, equities research analysts predict that NVIDIA will post 2.77 earnings per share for the current year.

Insider Transactions at NVIDIA

In related news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the completion of the sale, the director now directly owns 251,044 shares in the company, 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 sold a total of 92,449 shares of company stock worth $11,960,727 over the last ninety days. Company insiders own 4.23% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NVDA. Tacita Capital Inc acquired a new position in NVIDIA in the 4th quarter valued at $28,000. Legend Financial Advisors Inc. acquired a new position in NVIDIA in the 4th quarter valued at $34,000. Vision Financial Markets LLC acquired a new position in NVIDIA in the 4th quarter valued at $38,000. Luken Investment Analytics LLC acquired a new position in NVIDIA in the 4th quarter valued at $40,000. Finally, DHJJ Financial Advisors Ltd. raised its holdings in NVIDIA by 70.0% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after acquiring an additional 140 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

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.