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

NVIDIA (NASDAQ:NVDA) had its price target dropped by investment analysts at Citigroup from $163.00 to $150.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the computer hardware maker’s stock. Citigroup’s price objective would indicate a potential upside of 35.22% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. KeyCorp set a $190.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. DZ Bank raised NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Rosenblatt Securities reaffirmed a “buy” rating and set a $220.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Summit Insights downgraded NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Finally, Morgan Stanley set a $162.00 price objective on shares of NVIDIA and gave the stock an “overweight” rating in a research note 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 MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.39.

NVIDIA Stock Performance

NVDA opened at $110.93 on Friday. The firm’s 50-day moving average price is $118.95 and its 200-day moving average price is $130.36. The company has a market cap of $2.71 trillion, a P/E ratio of 43.66, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA has a 52-week low of $75.61 and a 52-week high of $195.95.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion during 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 anticipate that NVIDIA will post 2.77 EPS for the current fiscal year.

Insider Transactions at NVIDIA

In related news, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now directly owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock worth $17,133,207 over the last ninety days. Company insiders own 4.23% of the company’s stock.

Hedge Funds Weigh In On NVIDIA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Perkins Coie Trust Co increased its position in shares of NVIDIA by 14.2% during the first quarter. Perkins Coie Trust Co now owns 49,619 shares of the computer hardware maker’s stock worth $5,378,000 after acquiring an additional 6,180 shares during the period. Godsey & Gibb Inc. grew its stake in NVIDIA by 29.8% during the 1st quarter. Godsey & Gibb Inc. now owns 13,777 shares of the computer hardware maker’s stock worth $1,493,000 after purchasing an additional 3,161 shares in the last quarter. Joule Financial LLC raised its position in NVIDIA by 14.2% in the 1st quarter. Joule Financial LLC now owns 2,263 shares of the computer hardware maker’s stock valued at $245,000 after purchasing an additional 282 shares in the last quarter. Princeton Global Asset Management LLC boosted its stake in shares of NVIDIA by 4.5% in the 1st quarter. Princeton Global Asset Management LLC now owns 22,327 shares of the computer hardware maker’s stock valued at $2,420,000 after buying an additional 970 shares during the period. Finally, Intergy Private Wealth LLC grew its position in shares of NVIDIA by 2.7% during the first quarter. Intergy Private Wealth LLC now owns 8,296 shares of the computer hardware maker’s stock worth $899,000 after buying an additional 215 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.