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

NVIDIA Corporation (NASDAQ:NVDA)‘s stock had its “underperform” rating reiterated by equities researchers at BMO Capital Markets in a 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 suggest a potential downside of 50.61% from the company’s previous close.

A number of other research analysts have also issued reports on NVDA. B. Riley restated a “buy” rating and issued a $135.00 target price on shares of NVIDIA Corporation in a report on Monday, May 8th. UBS AG restated a “buy” rating and issued a $132.00 target price on shares of NVIDIA Corporation in a report on Wednesday, May 10th. Rosenblatt Securities restated a “buy” rating and issued a $152.00 target price on shares of NVIDIA Corporation in a report on Thursday. BidaskClub upgraded shares of NVIDIA Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Finally, Vetr lowered shares of NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $177.02 target price on the stock. in a report on Wednesday. Six equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the company. The company currently 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. NVIDIA Corporation has a 12 month low of $57.32 and a 12 month high of $172.21. The firm has a market capitalization of $102.41 billion, a PE ratio of 57.77 and a beta of 1.24. The stock has a 50 day moving average of $158.02 and a 200-day moving average of $125.12.

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

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In other NVIDIA Corporation news, Director Persis Drell sold 2,500 shares of the stock in a transaction on Thursday, May 18th. The stock was 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 of the company’s stock, valued at $3,205,253.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Byron sold 25,507 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $137.09, for a total value of $3,496,754.63. Following the completion of the sale, the insider now directly owns 162,706 shares in the company, valued at $22,305,365.54. The disclosure for this sale can be found here. Insiders have sold 572,282 shares of company stock worth $86,830,082 over the last 90 days. 5.17% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of NVDA. Quadrant Capital Group LLC raised its stake in shares of 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 in the last quarter. Regentatlantic Capital LLC raised its stake in shares of 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 in the last quarter. Capstone Asset Management Co. raised its stake in shares of 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 in the last quarter. Private Trust Co. NA bought a new stake in shares of NVIDIA Corporation during the first quarter valued at $304,000. Finally, Atria Investments LLC raised its stake in shares of 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 in the last quarter. 68.91% of the stock is currently owned by hedge funds and other 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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