NVIDIA (NASDAQ:NVDA) Given New $140.00 Price Target at TD Cowen

NVIDIA (NASDAQ:NVDA) had its price target cut by equities researchers at TD Cowen from $175.00 to $140.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the computer hardware maker’s stock. TD Cowen’s price target points to a potential upside of 28.83% from the company’s previous close.

A number of other equities analysts have also commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Rosenblatt Securities reissued a “buy” rating and set a $220.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. DA Davidson lowered their price target on shares of NVIDIA from $135.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday, March 20th. Barclays boosted their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, Bank of America reissued a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Six equities research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $169.01.

NVIDIA Stock Performance

NVIDIA stock traded up $12.37 during trading on Wednesday, hitting $108.67. The stock had a trading volume of 237,295,050 shares, compared to its average volume of 314,642,525. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average is $119.61 and its two-hundred day moving average is $130.67. NVIDIA has a 1 year low of $75.61 and a 1 year high of $195.95. The stock has a market cap of $2.65 trillion, a price-to-earnings ratio of 42.06, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96.

NVIDIA (NASDAQ:NVDA) last posted 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. The company had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. As a group, analysts predict that NVIDIA will post 2.77 EPS for the current year.

Insider Activity

In other news, Director Aarti S. Shah sold 20,000 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the transaction, the director now directly owns 53,208 shares in the company, valued at $6,300,891.36. This trade represents a 27.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert K. Burgess sold 53,324 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the sale, the director now owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. This trade represents a 17.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,147 shares of company stock valued at $17,133,207 in the last 90 days. 4.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NVIDIA

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Fiduciary Alliance LLC raised its position in NVIDIA by 2.5% in the first quarter. Fiduciary Alliance LLC now owns 181,319 shares of the computer hardware maker’s stock worth $19,651,000 after acquiring an additional 4,493 shares during the period. Future Financial Wealth Managment LLC raised its holdings in NVIDIA by 6.0% in the 1st quarter. Future Financial Wealth Managment LLC now owns 3,995 shares of the computer hardware maker’s stock worth $433,000 after purchasing an additional 225 shares during the period. Baker Tilly Wealth Management LLC lifted its position in NVIDIA by 6.4% during the first quarter. Baker Tilly Wealth Management LLC now owns 62,740 shares of the computer hardware maker’s stock valued at $6,800,000 after purchasing an additional 3,765 shares in the last quarter. Mid American Wealth Advisory Group Inc. grew its holdings in NVIDIA by 59.8% during the first quarter. Mid American Wealth Advisory Group Inc. now owns 4,374 shares of the computer hardware maker’s stock valued at $474,000 after purchasing an additional 1,636 shares during the period. Finally, Talbot Financial LLC increased its position in NVIDIA by 0.8% in the first quarter. Talbot Financial LLC now owns 231,385 shares of the computer hardware maker’s stock worth $25,078,000 after buying an additional 1,888 shares in the last quarter. Hedge funds and other institutional investors 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.