Nvidia expects 65% drop in cryptocurrency-related revenue next quarter

Eileen GuzmanMay 11, 2018

The firm has a market capitalization of $152.00 billion, a PE ratio of 55.94, a price-to-earnings-growth ratio of 4.01 and a beta of 1.52. Institutional investors own 66.73% of the company's stock.

Anyone vaguely interested in buying a graphics card for their PC over the last six months could have probably told you, the cryptocurrency mining sector's demand for processing power turned out to be significantly higher than Nvidia expected of late. Finally, Goldman Sachs downgraded Nvidia from a "conviction-buy" rating to a "buy" rating and set a $281.00 target price for the company.in a research report on Thursday, February 1st.

More interesting news about NVIDIA Corporation (NASDAQ:NVDA) were released by: Seekingalpha.com and their article: "Nvidia: Upcoming Earnings, Take Gains" published on May 07, 2018 as well as Nasdaq.com's news article titled: "4 Top Stock Trades for Wednesday Morning" with publication date: May 09, 2018.

Several other equities analysts also recently issued reports on the company. The stock ended last trade at 6.99 a share and the price is up more than -10.27% so far this year. The computer hardware maker reported $1.72 EPS for the quarter, beating the consensus estimate of $1.16 by $0.56. The company has a debt-to-equity ratio of 0.27, a current ratio of 8.03 and a quick ratio of 7.34. Deutsche Bank upped their target price on Nvidia from $205.00 to $230.00 and gave the stock a "hold" rating in a report on Friday, February 9th. $7.67M worth of NVIDIA Corporation (NASDAQ:NVDA) shares were sold by Shoquist Debora. The stock of NVIDIA Corporation (NASDAQ:NVDA) has "Buy" rating given on Friday, February 9 by Citigroup.

ROI deals with the invested cash in the company and the return the investor realize on that money based on the net profit of the business. Rating Scale; where 1.0 rating mean Strong Buy, 2.0 rating signifies Buy, 3.0 recommendation reveals Hold, 4.0 rating score shows Sell and 5.0 displays Strong Sell signal. Clearbridge Investments LLC lifted its position in shares of Nvidia by 100.0% during the fourth quarter. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Finally, BidaskClub upgraded shares of Nvidia from a "buy" rating to a "strong-buy" rating in a report on Wednesday, May 2nd. $265.17's average target is 3.67% above currents $255.78 stock price. Following the completion of the transaction, the executive vice president now owns 201,796 shares in the company, valued at approximately $48,320,052.20. The shares were sold at an average price of $245.67, for a total value of $9,914,995.53. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company's stock. Nvidia has an average rating of "Buy" and a consensus price target of $222.50. The disclosure for this sale can be found here.

For the second fiscal quarter of the fiscal year Nvidia expects revenues of $3.1 billion plus or minus 2%. The company's revenue was up 34.0% on a year-over-year basis. In the last 90 days, insiders sold 94,959 shares of company stock valued at $22,692,182.

NVIDIA Corporation operates as a visual computing firm worldwide. It operates in two divisions, GPU and Tegra Processor. NVIDIA's automotive business made $145 million, which includes sales of Drive PX, infotainment modules, and "development agreements with automotive companies".

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