NVIDIA Faces Downgrade as Analyst Forecasts Modest Price Increase
On November 22, 2024, Phillip Securities revised their outlook for NVIDIA (BIT:1NVDA) from Buy to Accumulate.
Analysts Predict Steady Growth Ahead
As of November 21, 2024, the average one-year price target for NVIDIA stands at €149.68 per share. Estimates vary, with a low of €70.40 and a high of €196.84. This forecast suggests a potential increase of 8.20% from its latest closing price of €138.34 per share.
For a comparison, take a look at our leaderboard of companies that offer the largest price target upside.
Revenue and Earnings Projections
NVIDIA’s projected annual revenue is €94,037 million, which represents a decrease of 16.98%. Additionally, the anticipated non-GAAP earnings per share (EPS) is €20.91.
Institutional Interest in NVIDIA
Currently, 6,619 funds or institutions report holdings in NVIDIA, marking an increase of 148 funds, or 2.29%, over the last quarter. The average portfolio weight dedicated to 1NVDA stands at 3.15%, a rise of 0.66%. Institutions increased their total shares owned by 13.77% in the past three months, bringing the total to 17,756,746K shares.
Institutional Movements
BlackRock currently holds 1,851,627K shares, accounting for 7.56% of the company’s ownership. This is a slight increase from their previous holding of 1,839,270K shares, but the firm reduced its portfolio allocation in 1NVDA by 8.22% over the last quarter.
Meanwhile, VTSMX – Vanguard Total Stock Market Index Fund Investor Shares increased its holdings to 738,297K shares, now representing 3.01% ownership. This showcases an impressive increase of 89.89% from their last filing and reflects a 31.49% rise in portfolio allocation.
VFINX – Vanguard 500 Index Fund Investor Shares holds 631,333K shares, or 2.58% of the company. Their shares rose 90.14%, with an additional 31.27% allocation in 1NVDA.
Geode Capital Management owns 546,079K shares, which corresponds to 2.23% ownership. They have increased their holdings by 2.11%, but decreased their portfolio allocation by 7.41%. Conversely, Price T Rowe Associates holds 407,608K shares, representing 1.66% ownership, which is a drop from 444,582K shares previously, resulting in a 56.71% decrease in allocation.
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This story originally appeared on Fintel.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
