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

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

NVDA has been the subject of several other research reports. Robert W. Baird raised their price target on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research report on Thursday, November 21st. Barclays increased their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Wedbush reiterated an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group increased their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Four investment 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $171.51.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $121.67 on Friday. The company has a market cap of $2.97 trillion, a price-to-earnings ratio of 47.88, a PEG 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 firm has a 50 day simple moving average of $129.26 and a 200 day simple moving average of $131.19. NVIDIA has a one year low of $75.61 and a one year high of $153.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating the consensus estimate of $0.84 by $0.05. The business had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. Research analysts predict that NVIDIA will post 2.77 earnings per share for the current fiscal year.

Insider Activity at NVIDIA

In other news, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 17,279 shares in the company, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,039,125 shares of company stock valued at $137,062,338. Corporate insiders own 4.23% of the company’s stock.

Institutional Investors Weigh In On NVIDIA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVDA. FMR LLC lifted its stake in shares of NVIDIA by 0.7% in the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after purchasing an additional 6,665,252 shares during the period. Geode Capital Management LLC grew its holdings in NVIDIA by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock valued at $74,439,273,000 after buying an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in NVIDIA by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock valued at $55,237,367,000 after buying an additional 3,721,331 shares in the last quarter. Norges Bank purchased a new stake in NVIDIA during the 4th quarter valued at approximately $43,515,504,000. Finally, Northern Trust Corp grew its holdings in shares of NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

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.