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NVIDIA (NASDAQ:NVDA)‘s stock had its “underperform” rating reaffirmed by stock analysts at Morgan Stanley in a report issued on Friday. They currently have a $15.00 price objective on the stock, up from their previous price objective of $14.00. Morgan Stanley’s price target indicates a potential downside of 14.09% from the stock’s previous close.

The analysts wrote, “In-line revs, but GM upside and slightly better revenue outlook surprised us, given inventory reduction at competitor, AMD. As spot shortages ease we think GMs come back a bit. The company is executing well but we see the stock as expensive, and remain UW, albeit with higher PT.”

Shares of NVIDIA (NASDAQ:NVDA) traded up 7.53% on Friday, hitting $18.775. 10,793,324 shares of the company’s stock traded hands. 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 $18.48 and a 200-day moving average of $18.17. The company has a market cap of $10.476 billion and a price-to-earnings ratio of 20.49.

NVIDIA (NASDAQ:NVDA) last released its earnings data on Thursday, August 7th. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.20 by $0.10. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the company posted $0.16 earnings per share. The company’s quarterly revenue was up 12.9% on a year-over-year basis. On average, analysts predict that NVIDIA will post $0.93 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Stockholders of record on Thursday, August 21st will be given a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a yield of 1.95%.

In other NVIDIA news, CAO David M. Shannon sold 2,445 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $17.66, for a total value of $43,178.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

NVDA has been the subject of a number of other recent research reports. Analysts at Needham & Company LLC upgraded shares of NVIDIA from a “hold” rating to a “buy” rating in a research note on Friday. They now have a $23.00 price target on the stock. Separately, analysts at Zacks upgraded shares of NVIDIA from a “neutral” rating to an “outperform” rating in a research note on Thursday, July 17th. They now have a $23.00 price target on the stock. Finally, analysts at Pacific Crest downgraded shares of NVIDIA from a “sector perform” rating to an “underperform” rating in a research note on Monday, June 23rd. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $19.50.

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

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