Morgan Stanley Has Lowered Expectations for NVIDIA (NASDAQ:NVDA) Stock Price

NVIDIA (NASDAQ:NVDA - Get Free Report) had its target price reduced by Morgan Stanley from $166.00 to $152.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the computer hardware maker's stock. Morgan Stanley's price target indicates a potential upside of 26.59% from the stock's previous close.

A number of other research analysts have also issued reports on the company. The Goldman Sachs Group lifted their target price on NVIDIA from $150.00 to $165.00 and gave the stock a "buy" rating in a report on Thursday, November 21st. DA Davidson increased their target price on shares of NVIDIA from $90.00 to $135.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. Truist Financial lifted their price target on shares of NVIDIA from $148.00 to $167.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. Wedbush raised their price objective on NVIDIA from $160.00 to $175.00 and gave the stock an "outperform" rating in a research note on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on NVIDIA from $115.00 to $140.00 and gave the stock a "hold" rating in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $166.23.

NVIDIA Stock Performance

NVIDIA stock traded down $4.58 during midday trading on Tuesday, reaching $120.07. 369,181,689 shares of the stock traded hands, compared to its average volume of 296,323,313. NVIDIA has a fifty-two week low of $60.70 and a fifty-two week high of $153.13. 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 firm has a market cap of $2.94 trillion, a price-to-earnings ratio of 47.25, a PEG ratio of 2.23 and a beta of 1.64. The firm has a fifty day moving average price of $137.02 and a two-hundred day moving average price of $129.37.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company's quarterly revenue was up 93.6% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share. On average, equities research analysts forecast that NVIDIA will post 2.77 earnings per share for the current year.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the company's stock in a transaction dated Monday, January 6th. The shares were 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 directly owns 3,902,888 shares of the company's stock, valued at $589,726,376.80. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock valued at $146,506,958 in the last 90 days. 4.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NVIDIA

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC bought a new position in shares of NVIDIA during the 2nd quarter worth about $27,000. Christopher J. Hasenberg Inc bought a new position in NVIDIA during the third quarter worth about $27,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of NVIDIA during the 2nd quarter worth approximately $31,000. Legend Financial Advisors Inc. acquired a new stake in NVIDIA in the 4th quarter valued at $34,000. Finally, West Financial Advisors LLC acquired a new position in NVIDIA during the third quarter worth $36,000. 65.27% of the stock is currently 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.