Mizuho Issues Pessimistic Forecast for NVIDIA (NASDAQ:NVDA) Stock Price

NVIDIA (NASDAQ:NVDA) had its price objective cut by analysts at Mizuho from $175.00 to $168.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the computer hardware maker’s stock. Mizuho’s price target indicates a potential upside of 38.08% from the company’s current price.

NVDA has been the topic of a number of other reports. DZ Bank raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Raymond James raised their price objective on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 14th. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 target price on shares of NVIDIA in a report on Thursday, February 27th. JPMorgan Chase & Co. increased their target price on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $220.00 target price on shares of NVIDIA in a report on Monday, February 24th. Four analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $171.51.

NVIDIA Price Performance

NVDA opened at $121.67 on Friday. NVIDIA has a one year low of $75.61 and a one year high of $153.13. The stock has a market capitalization of $2.97 trillion, a P/E ratio of 47.88, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company’s 50 day simple moving average is $129.26 and its 200-day simple moving average is $131.19.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $38.16 billion. Sell-side analysts anticipate that NVIDIA will post 2.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,039,125 shares of company stock valued at $137,062,338. Company insiders own 4.23% of the company’s stock.

Institutional Trading of NVIDIA

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Tableaux LLC acquired a new stake in NVIDIA in the 4th quarter worth about $268,000. Keystone Financial Services LLC acquired a new stake in NVIDIA in the 4th quarter worth about $1,020,000. Lansforsakringar Fondforvaltning AB publ acquired a new stake in NVIDIA in the 4th quarter worth about $1,288,798,000. Silver Oak Wealth Advisors Services LLC acquired a new stake in NVIDIA in the 4th quarter worth about $591,000. Finally, PKO Investment Management Joint Stock Co acquired a new position in shares of NVIDIA in the 4th quarter valued at approximately $21,218,000. 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.