BMO Capital Markets Reaffirms Underperform Rating for NVIDIA Corporation (NASDAQ:NVDA)

NVIDIA Corporation (NASDAQ:NVDA)‘s stock had its “underperform” rating reissued by BMO Capital Markets in a research note issued to investors on Thursday. They currently have a $85.00 target price on the computer hardware maker’s stock. BMO Capital Markets’ target price would indicate a potential downside of 50.61% from the stock’s current price.

Several other research analysts have also recently weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $152.00 price objective on shares of NVIDIA Corporation in a research report on Thursday. Vetr cut NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $177.02 price objective for the company. in a research report on Wednesday. BidaskClub raised NVIDIA Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Bank of America Corporation reaffirmed a “buy” rating on shares of NVIDIA Corporation in a research report on Monday. Finally, B. Riley reaffirmed a “buy” rating and set a $200.00 price objective (up from $135.00) on shares of NVIDIA Corporation in a research report on Monday. Six research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. NVIDIA Corporation presently has a consensus rating of “Hold” and an average target price of $136.64.

Shares of NVIDIA Corporation (NASDAQ NVDA) opened at 172.11 on Thursday. The stock’s 50 day moving average price is $158.02 and its 200-day moving average price is $125.12. The stock has a market capitalization of $102.41 billion, a P/E ratio of 57.77 and a beta of 1.24. NVIDIA Corporation has a 1-year low of $57.32 and a 1-year high of $172.21.

NVIDIA Corporation (NASDAQ:NVDA) last posted its quarterly earnings data on Tuesday, May 9th. The computer hardware maker reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.16. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.91 billion. NVIDIA Corporation had a return on equity of 36.40% and a net margin of 25.95%. NVIDIA Corporation’s revenue for the quarter was up 48.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 earnings per share. Equities research analysts anticipate that NVIDIA Corporation will post $3.10 EPS for the current fiscal year.

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In related news, Director Harvey C. Jones sold 145,520 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $159.31, for a total transaction of $23,182,791.20. Following the sale, the director now owns 30,762 shares of the company’s stock, valued at approximately $4,900,694.22. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Persis Drell sold 2,500 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $130.02, for a total value of $325,050.00. Following the sale, the director now directly owns 24,652 shares in the company, valued at approximately $3,205,253.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 572,282 shares of company stock worth $86,830,082. 5.17% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC increased its stake in NVIDIA Corporation by 17.5% in the first quarter. Quadrant Capital Group LLC now owns 1,055 shares of the computer hardware maker’s stock valued at $105,000 after buying an additional 157 shares during the period. Regentatlantic Capital LLC increased its stake in NVIDIA Corporation by 2.8% in the first quarter. Regentatlantic Capital LLC now owns 5,946 shares of the computer hardware maker’s stock valued at $648,000 after buying an additional 160 shares during the period. Capstone Asset Management Co. increased its stake in NVIDIA Corporation by 1.8% in the first quarter. Capstone Asset Management Co. now owns 57,718 shares of the computer hardware maker’s stock valued at $6,287,000 after buying an additional 1,016 shares during the period. Private Trust Co. NA purchased a new stake in NVIDIA Corporation during the first quarter valued at $304,000. Finally, Atria Investments LLC increased its stake in NVIDIA Corporation by 180.5% in the first quarter. Atria Investments LLC now owns 7,605 shares of the computer hardware maker’s stock valued at $828,000 after buying an additional 4,894 shares during the period. 68.91% of the stock is currently owned by institutional investors.

About NVIDIA Corporation

Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.

Analyst Recommendations for NVIDIA Corporation (NASDAQ:NVDA)

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