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NVIDIA (NASDAQ:NVDA) was downgraded by investment analysts at Bank of America from a “neutral” rating to an “underperform” rating in a note issued to investors on Thursday. They currently have a $19.00 target price on the stock. Bank of America’s price objective suggests a potential downside of 3.01% from the stock’s previous close. The analysts noted that the move was a valuation call.

NVDA has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity initiated coverage on shares of NVIDIA in a research note on Tuesday, June 10th. They set a “hold” rating and a $19.00 price target on the stock. Separately, analysts at ING Group upgraded shares of NVIDIA from a “strong sell” rating to a “sell” rating in a research note on Monday, May 19th. Finally, analysts at RBC Capital upgraded shares of NVIDIA from a “sector perform” rating to an “outperform” rating in a research note on Monday, May 19th. They now have a $26.00 price target on the stock, up previously from $21.00. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.98.

Shares of NVIDIA (NASDAQ:NVDA) opened at 19.59 on Thursday. NVIDIA has a 52 week low of $13.11 and a 52 week high of $19.73. The stock has a 50-day moving average of $18.73 and a 200-day moving average of $17.50. The company has a market cap of $10.931 billion and a price-to-earnings ratio of 23.02.

NVIDIA (NASDAQ:NVDA) last released its earnings data on Tuesday, May 6th. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.17 by $0.12. The company had revenue of $1.10 million for the quarter, compared to the consensus estimate of $1.06 million. During the same quarter in the prior year, the company posted $0.13 earnings per share. The company’s quarterly revenue was up 15.5% on a year-over-year basis. On average, analysts predict that NVIDIA will post $0.92 earnings per share for the current fiscal year.

In other NVIDIA news, CAO David M. Shannon unloaded 2,446 shares of NVIDIA stock on the open market in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $19.58, for a total value of $47,892.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

NVIDIA Corporation (NASDAQ:NVDA) is engaged in creating the graphics chips used in personal computers (PCs).

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