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

NVIDIA (NASDAQ:NVDA) had its price target lowered by DA Davidson from $135.00 to $125.00 in a research report issued on Thursday,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 5.50% from the company’s current price.

A number of other research analysts have also issued reports on the company. Evercore ISI boosted their price objective on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. HSBC reduced their target price on NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a report on Monday, January 13th. Summit Insights downgraded NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a research report on Wednesday, February 26th. Finally, Truist Financial increased their price objective on NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $171.51.

NVIDIA Stock Up 0.8 %

NASDAQ:NVDA traded up $0.97 on Thursday, reaching $118.49. The stock had a trading volume of 164,908,704 shares, compared to its average volume of 317,425,616. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average of $127.71 and a 200 day moving average of $131.12. The stock has a market cap of $2.89 trillion, a P/E ratio of 46.76, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. NVIDIA has a 12-month low of $75.61 and a 12-month high of $153.13.

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

Insider Buying and Selling

In other NVIDIA news, Director Robert K. Burgess sold 53,324 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $28,993,071.56. The trade was a 17.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the sale, the director now directly owns 17,279 shares of the company’s stock, valued at $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,449 shares of company stock valued at $11,960,727. 4.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On NVIDIA

Several institutional investors and hedge funds have recently made changes to their positions in NVDA. Tacita Capital Inc purchased a new position in shares of NVIDIA during the 4th quarter worth $28,000. Legend Financial Advisors Inc. bought a new stake in NVIDIA in the 4th quarter valued at $34,000. Vision Financial Markets LLC bought a new stake in shares of NVIDIA in the 4th quarter worth about $38,000. Luken Investment Analytics LLC bought a new stake in shares of NVIDIA in the 4th quarter worth about $40,000. Finally, DHJJ Financial Advisors Ltd. increased its holdings in shares of NVIDIA by 70.0% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after buying an additional 140 shares during 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.