Citigroup Cuts Nova (NVMI) Price Target to $415
Citigroup has lowered its rating on Nova Ltd. and cut its price target significantly, a 29.28% upside from the current price.
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Citigroup cut its price target on Nova Ltd. ($NVMI) to $415 from $550 on October 8, 2026, and rates the stock "Neutral".
Since the rating, $NVMI is down 7.1% after 1 week and down 9.4% to date (from the $354.59 close on Oct 8, 2026).
NVMI
Nova Ltd.
Key Points
- The stock closed at $354.59 on the same day, but recently traded lower at $321, about 9.5% below the closing price.
- Citigroup's $415 price target implies 29.28% upside from Nova Ltd.'s ($NVMI) current $321 share price.
- Analysts remain mixed on Nova Ltd., with Needham maintaining a Buy rating and a target of $570.
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Citigroup has downgraded Nova Ltd. (NASDAQ: NVMI) from a Buy rating to Neutral and cut its price target from $550 to $415 on October 8, 2026. This marks a significant shift in the firm's outlook on the semiconductor equipment maker.
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Other Institutional Activity in Nova Ltd.
FMR, LLC reduced its holdings by 87,743 shares, ending with 2,671,472 shares valued at about $858.1 million. Harel Insurance Investments & Financial Services Ltd. also trimmed its position, selling 40,504 shares for a total of 2,125,473 shares worth approximately $682.7 million. In contrast, Migdal Insurance & Financial Holdings Ltd. grew its stake by 51,925 shares, bringing its total to 1,620,657 shares valued at around $520.6 million.
Nova Ltd. Stock Down 9.9%
After closing at $354.59 on October 8, 2026, Nova Ltd.'s stock has since dropped to a recent price of $321. This recent trading position is about 9.5% below the closing price and 22.7% under Citigroup's new target.
$NVMI price target
Nova Ltd. daily closes and this analyst's $415 target. Not advice.
Recent Earnings
For the trailing twelve months ending September 22, 2026, Nova Ltd. reported revenue of approximately $937.5 million and an earnings per share (EPS) of $8.01. The company has shown a year-over-year revenue growth of 15.9% and a net margin of 28.8%. Its next earnings report is scheduled for November 5, 2026.
Insider Buying and Selling at Nova Ltd.
Insider trading at Nova Ltd. has seen several sales recently. Sarit Sagiv, a Director, sold 820 shares on June 23, 2026, valued at about $456,299. CEO Gabriel Waisman sold 2,966 shares at an average price of $501.3 on July 2, 2026, totaling approximately $1.49 million. He also sold 1,500 shares on September 1, 2026, for about $513,405, and officer Shay Wolfing sold 3,864 shares on September 21, 2026, at an average price of $363.28, worth around $1.4 million.
Analysts Set New Price Targets
On October 8, 2026, Citigroup downgraded its rating on Nova Ltd. to Neutral and set a new price target of $415, down from $550. This follows a series of ratings by other firms on August 7, 2026, where Needham maintained a Buy rating with a target of $570, Evercore ISI Group kept an Outperform rating with a target of $475, and Cantor Fitzgerald held an Overweight rating with a target of $500.
About Nova Ltd.
Nova Ltd. is based in Rehovot, Israel, and specializes in designing and producing process control systems used in semiconductor manufacturing. The company's recent downgrade by Citigroup highlights a shift in market sentiment, which investors will be watching closely.
Bottom Line
Investors should keep an eye on Nova Ltd. as it approaches its next earnings date on November 5, 2026, and watch for any further analyst updates following Citigroup's recent downgrade.
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Source: Citigroup's rating change on $NVMI (Oct 8, 2026). Written by software, not financial advice. How we make alerts