NVIDIA (NASDAQ:NVDA) Price Target Cut to $200.00 by Analysts at Rosenblatt Securities

NVIDIA (NASDAQ:NVDA - Get Free Report) had its price objective cut by equities researchers at Rosenblatt Securities from $220.00 to $200.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the computer hardware maker's stock. Rosenblatt Securities' price objective suggests a potential upside of 97.38% from the company's previous close.

Other analysts have also recently issued reports about the company. Stifel Nicolaus set a $180.00 price target on NVIDIA in a research report on Wednesday, March 19th. Barclays increased their target price on shares of NVIDIA from $160.00 to $175.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. Benchmark restated a "buy" rating and set a $190.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a research note on Wednesday. Finally, Mizuho dropped their price target on NVIDIA from $175.00 to $168.00 and set an "outperform" rating for the company in a research report on Friday, March 14th. Six analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $165.51.

NVIDIA Price Performance

NVIDIA stock traded down $3.16 during trading on Wednesday, reaching $101.33. The company had a trading volume of 290,593,259 shares, compared to its average volume of 309,758,204. 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 firm has a market capitalization of $2.47 trillion, a PE ratio of 39.88, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. NVIDIA has a 1-year low of $76.40 and a 1-year high of $195.95. The firm's 50-day simple moving average is $116.56 and its 200 day simple moving average is $129.86.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $38.16 billion. As a group, equities research analysts anticipate that NVIDIA will post 2.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Colette Kress sold 66,660 shares of the firm's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total value 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 $360,509,924.95. This trade represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Aarti S. Shah sold 20,000 shares of NVIDIA stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total value of $2,368,400.00. Following the completion of the sale, the director now directly owns 53,208 shares in the company, valued at $6,300,891.36. This represents a 27.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,147 shares of company stock worth $17,133,207. 4.23% of the stock is owned by insiders.

Institutional Investors Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC grew its position in NVIDIA by 0.7% during the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock worth $134,877,735,000 after buying an additional 6,665,252 shares during the period. Geode Capital Management LLC increased its position 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 buying an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of NVIDIA by 0.9% in the 4th 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 buying an additional 3,721,331 shares in the last quarter. Norges Bank acquired a new stake in NVIDIA in the 4th quarter valued at about $43,515,504,000. Finally, Northern Trust Corp grew its position in shares of NVIDIA by 15.8% in 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. Institutional investors and hedge funds own 65.27% of the company's stock.

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.