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Baird Downgrades Nvidia to Neutral, Cuts Target to $200

The firm's new price target is $200, down from $500, and it now rates the stock neutral.

By Zintick Team · Editor: Kratik Mehta
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Key points

  • Baird cut its target to $200 from $500 and moved to neutral from outperform
  • Before Wednesday, 34 of 35 covering firms rated the stock positive
  • Median target before the actions was $315; the lowest was $215
  • Nvidia closed at $168.89 on Nov. 10, down 26.1% over 20 sessions

Baird downgraded Nvidia (Nasdaq: NVDA) to neutral from outperform on Wednesday and cut its price target to $200 from $500. The action came before the open.

Before Wednesday, 34 of the 35 firms that rated Nvidia in the past year rated it positive and one rated it neutral. None rated it negative. Among those firms, the median price target was $315 and the lowest was $215. Baird's new target of $200 sits below that lowest figure.

Nvidia closed at $168.89 on Tuesday, Nov. 10. Over the 20 sessions through that close, the stock fell 26.1%.

Scale of the business

In its last fiscal year, which ended Jan. 25, Nvidia reported revenue of $215.94 billion, up 65% from a year earlier. In its latest reported quarter, which ended July 26, revenue was $96.22 billion, up 106% from a year earlier. Diluted earnings per share for that quarter were $2.46, compared with $1.08 a year earlier.

Coverage view

Baird's move leaves it among the firms that rate the stock neutral rather than positive.

Written with AI from analyst rating changes, SEC filings and market data, and checked against those sources before publishing. Our editorial standards.

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