Notable Downgrades: Nvidia (NVDA), MannKind Corp. (MNKD), Etsy Inc (ETSY), Nuance (NUAN)

Nvidia Corporation (NVDA) was reiterated a ‘Hold’ by Canaccord Genuity analysts on Monday. The broker however, cut its price target on the stock to $21 from $23.

On valuation measures, Nvidia Corp. stock it’s trading at a forward P/E multiple of 18.62x, and at a multiple of 18.50x this year’s estimated earnings. The t-12-month revenue at Nvidia Corp. is $4.68 billion. NVDA’s ROE for the same period is 14.21%.

Shares of the $11.46 billion market cap company are up 14.53% year-over-year and 4.29% year-to-date.

Nvidia Corp., currently with a median Wall Street price target of $23.00 and a high target of $28.00, dropped $0.11 to $20.72 in recent trading.

The chart below shows where the equity has traded over the past 52-weeks.

MannKind Corp. (MNKD) was reiterated as ‘Hold’ with a $4.00 from $7.00 price target on Monday by MLV & Co.

Shares have traded today between $3.51 and $3.70 with the price of the stock fluctuating between $3.51 to $11.48 over the last 52 weeks.

MannKind Corp. shares have a t-12 return on assets of (34.38%). EPS for the same period registers at ($0.52).

Shares of MNKD have lost $0.22 to $3.59 in mid-day trading on Monday, giving it a market cap of $1.47 billion. The stock traded as high as $11.48 in June 30, 2014.

Wedbush reported on Monday that they have lowered their rating for Etsy Inc (ETSY). The firm has downgraded ETSY from ‘Neutral‘ to ‘Underperform‘ and set its price target to $14.

Etsy Inc. recently traded at $20.61, a loss of $2.10 over Friday’s closing price. The stock almost doubled its initial offering price of $16 per share on April 16 closing at $30 per share on its first day. The name has a current market capitalization of $2.29 billion.

Nuance Communications, Inc. (NUAN) had its rating lowered from ‘Buy‘ to ‘Hold‘ by analysts at Standpoint Research on Monday.

Currently there are 3 analysts that rate NUAN a ‘Buy‘, 1 analyst rates it a ‘Sell‘, and 8 rate it a ‘Hold‘. NUAN was up $0.27 at $16.84 in mid-day trade, moving within a 52-week range of $13.20 to $19.61. The name, valued at $5.48 billion, opened at $16.57.

On valuation measures, Nuance Communications Inc. shares have a t-12 price/sales ratio of 2.79. EPS for the same period registers at ($0.46).

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