Raymond James Has Lowered Expectations for NVIDIA (NASDAQ:NVDA) Stock Price

NVIDIA (NASDAQ:NVDA) had its price target cut by research analysts at Raymond James from $170.00 to $150.00 in a research note issued on Wednesday, MarketBeat.com reports. The firm currently has a “strong-buy” rating on the computer hardware maker’s stock. Raymond James’ target price indicates a potential upside of 48.04% from the stock’s previous close.

NVDA has been the subject of several other reports. HSBC lowered shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a report on Thursday, April 3rd. Truist Financial boosted their target price on NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. KeyCorp set a $190.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, DA Davidson reduced their price objective on shares of NVIDIA from $125.00 to $120.00 and set a “neutral” rating for the company in a research note on Monday. 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’s stock. Based on data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $165.51.

NVIDIA Price Performance

Shares of NVDA stock opened at $101.33 on Wednesday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market cap of $2.47 trillion, a price-to-earnings ratio of 39.88, a PEG ratio of 1.76 and a beta of 1.96. The business’s fifty day moving average is $117.19 and its 200 day moving average is $129.89. NVIDIA has a twelve month low of $75.61 and a twelve month high of $195.95.

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

Insider Buying and Selling

In related news, Director Aarti S. Shah sold 20,000 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the transaction, the director now directly owns 53,208 shares of the company’s stock, valued at approximately $6,300,891.36. This trade represents a 27.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 66,660 shares of the business’s 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 completion of the sale, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,147 shares of company stock valued at $17,133,207. Corporate insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Several large investors have recently made changes to their positions in NVDA. FMR LLC raised its holdings in shares of NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after acquiring an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of NVIDIA by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock valued at $74,439,273,000 after purchasing an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in NVIDIA by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares during the last quarter. Norges Bank purchased a new stake in NVIDIA during the fourth quarter valued at $43,515,504,000. Finally, Northern Trust Corp lifted its position in NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

About NVIDIA

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.