HSBC Cuts NVIDIA (NASDAQ:NVDA) Price Target to $185.00

NVIDIA (NASDAQ:NVDA) had its target price reduced by research analysts at HSBC from $195.00 to $185.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the computer hardware maker’s stock. HSBC’s price objective suggests a potential upside of 40.43% from the stock’s current price.

NVDA has been the topic of several other research reports. Raymond James raised their target price 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. Loop Capital reissued a “buy” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Wednesday, November 20th. JPMorgan Chase & Co. lifted their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. William Blair assumed coverage on shares of NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. Finally, Melius Research lifted their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $164.27.

NVIDIA Price Performance

Shares of NVIDIA stock traded down $4.17 during mid-day trading on Monday, reaching $131.74. 115,376,946 shares of the stock were exchanged, compared to its average volume of 227,324,641. The company has a market cap of $3.23 trillion, a price-to-earnings ratio of 51.85, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a 50-day simple moving average of $139.90 and a 200 day simple moving average of $128.70. NVIDIA has a fifty-two week low of $54.74 and a fifty-two week high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.38 EPS. On average, sell-side analysts predict that NVIDIA will post 2.78 EPS for the current fiscal year.

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 716 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the sale, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,108,348 shares of company stock worth $146,506,958. Corporate insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

Several large investors have recently added to or reduced their stakes in the company. Ironwood Wealth Management LLC. boosted its stake in NVIDIA by 896.9% in the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock worth $782,000 after purchasing an additional 5,695 shares during the period. Financial Guidance Group Inc. boosted its stake in NVIDIA by 900.0% in the 2nd quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock worth $445,000 after purchasing an additional 3,240 shares during the period. Planning Alternatives Ltd. ADV bought a new position in NVIDIA in the 2nd quarter worth about $215,000. Kanawha Capital Management LLC boosted its stake in NVIDIA by 1,142.7% in the 2nd quarter. Kanawha Capital Management LLC now owns 23,065 shares of the computer hardware maker’s stock worth $2,849,000 after purchasing an additional 21,209 shares during the period. Finally, Cape ANN Savings Bank boosted its stake in NVIDIA by 1,917.7% in the 2nd quarter. Cape ANN Savings Bank now owns 13,680 shares of the computer hardware maker’s stock worth $1,690,000 after purchasing an additional 13,002 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

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.