Nvidia (NVDA, $303.90) shares downgraded at Wedbush
Nvidia shares got a downgrade from analysts at Wedbush to neutral from outperform, on valuation concerns. However, Wedbush analysts boosted price target on the semiconductor company’s stock $300 a share from $220 a share.
According to a note to investors, while Wedbush analysts remain “very bullish” on Nvidia's near term prospects as well as longer term opportunities particularly around Artificial Intelligence, they won’t be able to justify raising the multiple to a level that corresponds to an Outperform rating.
Wedbush said a 67X price target on Nvidia to maintain the outperform rating cannot be justified. Wedbush is incorporating a 40X multiple for Nvidia's future earnings to calculate its price target for the shares.
NVDA in -2.05% downward trend, declining for three consecutive days on May 24, 2023
Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where NVDA declined for three days, in of 255 cases, the price declined further within the following month. The odds of a continued downward trend are .
Technical Analysis (Indicators)
Bearish Trend Analysis
The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 5 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 18 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
NVDA broke above its upper Bollinger Band on May 25, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on May 04, 2023. You may want to consider a long position or call options on NVDA as a result. In of 76 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for NVDA just turned positive on May 15, 2023. Looking at past instances where NVDA's MACD turned positive, the stock continued to rise in of 47 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where NVDA advanced for three days, in of 347 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 349 cases where NVDA Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Fundamental Analysis (Ratings)
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding price growth. NVDA’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 64, placing this stock better than average.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: NVDA's P/B Ratio (39.683) is very high in comparison to the industry average of (7.052). NVDA has a moderately high P/E Ratio (204.082) as compared to the industry average of (54.079). Projected Growth (PEG Ratio) (2.235) is also within normal values, averaging (2.571). Dividend Yield (0.000) settles around the average of (0.024) among similar stocks. P/S Ratio (37.879) is also within normal values, averaging (11.823).
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a manufacturer of computer graphics processors, chipsets, and related multimedia software
Industry Semiconductors
NVDA and
Correlation & Price change
A.I.dvisor indicates that over the last year, NVDA has been closely correlated with ADI. These tickers have moved in lockstep 85% of the time. This A.I.-generated data suggests there is a high statistical probability that if NVDA jumps, then ADI could also see price increases.
| Ticker / NAME | Correlation To NVDA | 1D Price Change % | ||
|---|---|---|---|---|
| NVDA | 100% | -1.11% | ||
| ADI - NVDA | 85% Closely correlated | +0.14% | ||
| ASML - NVDA | 84% Closely correlated | -0.29% | ||
| AMD - NVDA | 84% Closely correlated | -1.35% | ||
| MPWR - NVDA | 81% Closely correlated | -0.41% | ||
| QCOM - NVDA | 80% Closely correlated | -0.18% | ||
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