NVIDIA (NASDAQ:NVDA) Stock Price Target Cut by Rosenblatt Securities

NVIDIA (NASDAQ:NVDA) had its price objective reduced by equities research analysts at Rosenblatt Securities from $390.00 to $300.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the computer hardware maker’s stock. Rosenblatt Securities‘s target price would suggest a potential upside of 84.22% from the company’s previous close.

NVDA has been the topic of several other reports. Evercore lowered NVIDIA from an “outperform” rating to a “positive” rating and set a $186.00 target price on the stock. in a research note on Wednesday. StoneX cut NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday. Sanford C. Bernstein set a $200.00 price target on NVIDIA and gave the stock a “market perform” rating in a research report on Thursday. Weiss Ratings cut NVIDIA from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, November 2nd. Finally, New Street Research reiterated a “buy” rating on shares of NVIDIA in a report on Thursday. Five investment analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $276.77.

NVIDIA Trading Down 2.0%

Shares of NASDAQ:NVDA traded down $3.34 during trading on Friday, reaching $162.85. The stock had a trading volume of 361,620,691 shares, compared to its average volume of 156,557,719. The firm’s fifty day moving average is $215.96 and its 200 day moving average is $204.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.85 and a current ratio of 4.59. NVIDIA has a 52 week low of $148.80 and a 52 week high of $243.37. The stock has a market cap of $3.92 trillion, a price-to-earnings ratio of 20.59, a P/E/G ratio of 1.34 and a beta of 2.21.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, August 26th. The computer hardware maker reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.13. The company 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%. NVIDIA’s revenue for the quarter was up 105.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.05 earnings per share. As a group, equities analysts forecast that NVIDIA will post 9.29 EPS for the current fiscal year.

NVIDIA announced that its board has authorized a share repurchase program on Monday, September 28th that allows the company to buy back $150 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to reacquire up to 2.8% of its shares through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Transactions at NVIDIA

In other news, Director Mark Stevens sold 622,239 shares of the business’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $231.62, for a total value of $144,122,997.18. Following the completion of the sale, the director owned 2,336,531 shares in the company, valued at approximately $541,187,310.22. The trade was a 21.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 34,918 shares of the business’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $219.05, for a total transaction of $7,648,787.90. Following the completion of the transaction, the chief financial officer owned 765,103 shares of the company’s stock, valued at $167,595,812.15. This represents a 4.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,766,118 shares of company stock valued at $399,450,353. 3.94% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NVDA. Boyd Wealth Management LLC grew its holdings in NVIDIA by 273.4% during the 2nd quarter. Boyd Wealth Management LLC now owns 9,145 shares of the computer hardware maker’s stock valued at $1,830,000 after purchasing an additional 6,696 shares in the last quarter. Ally Financial Inc. increased its position in NVIDIA by 10.3% in the second quarter. Ally Financial Inc. now owns 172,000 shares of the computer hardware maker’s stock worth $34,415,000 after buying an additional 16,000 shares during the period. Altshuler Shaham Ltd lifted its position in NVIDIA by 6,451.9% in the 1st quarter. Altshuler Shaham Ltd now owns 637,236 shares of the computer hardware maker’s stock valued at $111,134,000 after purchasing an additional 627,510 shares during the last quarter. Vanguard Capital Wealth Advisors boosted its position in shares of NVIDIA by 5.6% during the second quarter. Vanguard Capital Wealth Advisors now owns 52,163 shares of the computer hardware maker’s stock worth $10,437,000 after buying an additional 2,758 shares during the period. Finally, Baker Tilly Wealth Management LLC grew its stake in shares of NVIDIA by 7.4% in the second quarter. Baker Tilly Wealth Management LLC now owns 71,898 shares of the computer hardware maker’s stock worth $14,386,000 after purchasing an additional 4,958 shares in the last quarter. Institutional investors and hedge funds 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: Some analysts still see substantial recovery potential: two reportedly set $300 price targets, while broader analyst coverage remains largely positive. Those forecasts offer a bullish counterpoint, although targets have also been cut sharply. 1 Wall Street Analyst Says Nvidia Will Double From Here. Are They Right?
• Neutral Sentiment: NVIDIA has not yet selected a search firm to find a permanent CEO; CFO Colette Kress remains interim chief. The board says operations and the product roadmap should continue uninterrupted, but investors may look to the November 17 earnings and guidance for evidence of stability. Nvidia hasn’t selected search firm for permanent Huang replacement
• Negative Sentiment: Huang’s departure removes the leader closely associated with NVIDIA’s strategy and AI expansion. Reports that the transition was abrupt, alongside uncertainty about succession, have heightened concerns about governance and execution. Nvidia’s CEO Shakeup Reveals Why CFOs Are Corporate America’s Contingency Plan

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.