NVIDIA (NASDAQ:NVDA – Get Free Report) had its target price dropped by research analysts at Cantor Fitzgerald from $350.00 to $250.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the computer hardware maker’s stock. Cantor Fitzgerald‘s price objective would indicate a potential upside of 43.90% from the stock’s previous close.
Several other research analysts have also recently issued reports on NVDA. Aletheia Capital cut shares of NVIDIA from a “buy” rating to a “hold” rating in a report on Monday. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $300.00 price target on shares of NVIDIA in a report on Monday. Rosenblatt Securities reaffirmed a “buy” rating and set a $390.00 price target on shares of NVIDIA in a research report on Tuesday, September 29th. BMO Capital Markets set a $340.00 price objective on NVIDIA and gave the company an “outperform” rating in a research note on Thursday, August 20th. Finally, Rothschild & Co Redburn boosted their price objective on NVIDIA from $300.00 to $325.00 in a report on Thursday, August 27th. Five equities research analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $298.18.
Read Our Latest Stock Analysis on NVIDIA
NVIDIA Price Performance
Shares of NASDAQ NVDA opened at $173.73 on Thursday. The business’s 50 day moving average price is $217.12 and its 200 day moving average price is $204.35. The firm has a market cap of $4.19 trillion, a P/E ratio of 21.96, a P/E/G ratio of 1.30 and a beta of 2.21. NVIDIA has a 52 week low of $164.27 and a 52 week high of $243.37. The company has a quick ratio of 3.85, a current ratio of 4.59 and a debt-to-equity ratio of 0.14.
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings data on Wednesday, August 26th. The computer hardware maker reported $2.22 EPS for the quarter, beating the consensus estimate of $2.09 by $0.13. The business had revenue of $96.22 billion during the quarter, compared to analysts’ expectations of $92.27 billion. NVIDIA had a net margin of 63.66% and a return on equity of 96.04%. The business’s quarterly revenue was up 105.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.05 EPS. On average, sell-side analysts expect that NVIDIA will post 9.30 earnings per share for the current year.
NVIDIA announced that its board has initiated a stock repurchase program on Monday, September 28th that permits the company to buy back $150 billion in shares. This buyback authorization permits the computer hardware maker to reacquire up to 2.8% of its stock through open market purchases. Share buyback programs are typically an indication that the company’s management believes its shares are undervalued.
Insider Activity
In related news, EVP Timothy Teter sold 30,460 shares of NVIDIA stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $222.80, for a total value of $6,786,488.00. Following the completion of the transaction, the executive vice president owned 2,687,660 shares in the company, valued at $598,810,648. The trade was a 1.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Colette Kress sold 34,918 shares of the company’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $219.05, for a total value of $7,648,787.90. Following the completion of the transaction, the chief financial officer directly owned 765,103 shares of the company’s stock, valued at $167,595,812.15. The trade was a 4.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,766,118 shares of company stock worth $399,450,353 in the last ninety days. Company insiders own 3.94% of the company’s stock.
Institutional Investors Weigh In On NVIDIA
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jupiter Topco LLC purchased a new stake in NVIDIA during the 2nd quarter worth approximately $16,156,076,000. Van ECK Associates Corp lifted its position in shares of NVIDIA by 34.7% in the second quarter. Van ECK Associates Corp now owns 75,849,721 shares of the computer hardware maker’s stock valued at $15,176,771,000 after acquiring an additional 19,522,304 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of NVIDIA in the third quarter worth approximately $3,921,459,000. State Street Corp boosted its stake in shares of NVIDIA by 1.6% in the second quarter. State Street Corp now owns 1,009,783,437 shares of the computer hardware maker’s stock worth $202,047,568,000 after acquiring an additional 15,897,836 shares during the last quarter. Finally, Amundi increased its position in shares of NVIDIA by 10.4% during the first quarter. Amundi now owns 133,768,018 shares of the computer hardware maker’s stock worth $23,329,141,000 after purchasing an additional 12,575,177 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.
Key Headlines Impacting NVIDIA
These are some of the NVDA headlines that stood out recently:
- Positive Sentiment: Underlying AI demand offers a counterpoint: strong results and an upbeat outlook from Nvidia customer CoreWeave were cited as evidence that spending on AI infrastructure remains robust. Article: Great News for Nvidia, Micron, Broadcom, and AMD Stock Investors
- Neutral Sentiment: The board is reportedly weighing Huang’s future after reports of alleged personal relationships, including one with an Nvidia employee. The company has not confirmed that it plans to remove him; uncertainty over succession is central to the market reaction. Article: A dark day for Nvidia: Analysts react as markets await news on Huang’s fate
- Negative Sentiment: Reports that the board may oust longtime CEO Huang have heightened key-person and succession concerns. Analysts have cut targets this week, including Wells Fargo and Citigroup, adding to investor caution. Article: Nvidia Stock Is Tumbling. What Happens Next If Huang Gets Ousted
NVIDIA Company Profile
NVIDIA Corporation develops graphics processing units (GPUs), accelerated computing platforms and related software. Founded in 1993, the company first became widely known for GPUs used in PC gaming and professional graphics. Its technology now also supports artificial intelligence, scientific computing and other data-intensive applications. NVIDIA’s offerings include GeForce products for gaming, data-center GPUs and systems for AI workloads, and networking products that connect computing infrastructure.
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