NVIDIA (NASDAQ:NVDA) Given New $150.00 Price Target at Raymond James

NVIDIA (NASDAQ:NVDA - Get Free Report) had its target price reduced by analysts at Raymond James from $170.00 to $150.00 in a research report issued to clients and investors on Wednesday, MarketBeat reports. The firm currently has a "strong-buy" rating on the computer hardware maker's stock. Raymond James' target price suggests a potential upside of 48.04% from the company's current price.

A number of other equities analysts also recently issued reports on NVDA. Barclays increased their price target on shares of NVIDIA from $160.00 to $175.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Cantor Fitzgerald reiterated an "overweight" rating and set a $200.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. HSBC downgraded NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a research note on Thursday, April 3rd. Morgan Stanley set a $162.00 price objective on shares of NVIDIA and gave the company an "overweight" rating in a research note on Wednesday, March 19th. Finally, Benchmark reaffirmed a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Six investment analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $165.51.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA traded down $3.16 during midday trading on Wednesday, hitting $101.33. The stock had a trading volume of 290,593,259 shares, compared to its average volume of 309,758,204. The company has a market capitalization of $2.47 trillion, a PE ratio of 39.88, a P/E/G 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 stock has a 50 day moving average price of $116.56 and a two-hundred day moving average price of $129.86. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. As a group, equities analysts predict that NVIDIA will post 2.77 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the sale, the director now directly owns 251,044 shares of the company's stock, valued at approximately $28,993,071.56. The trade was a 17.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the firm's stock in a transaction that occurred on 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 sale, the chief financial officer now owns 3,085,765 shares of the company's stock, valued at approximately $360,509,924.95. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock worth $17,133,207 over the last 90 days. Company insiders own 4.23% of the company's stock.

Hedge Funds Weigh In On NVIDIA

Institutional investors and hedge funds have recently made changes to their positions in the business. Tacita Capital Inc acquired a new position in NVIDIA during the 4th quarter worth $28,000. Legend Financial Advisors Inc. bought a new position in NVIDIA in the fourth quarter worth about $34,000. Vision Financial Markets LLC acquired a new position in NVIDIA in the fourth quarter valued at approximately $38,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA during the fourth quarter valued at approximately $40,000. Finally, Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA in the 4th quarter worth approximately $46,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

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.