Market Analysts see HP Inc [HPQ] gaining to $33. Time to buy?

HP Inc [NYSE: HPQ] loss -0.70% or -0.2 points to close at $28.43 with a heavy trading volume of 7578014 shares. The company report on February 15, 2024 at 7:01 AM that Apply Now: HP Announces 2024 Digital Equity Accelerator to Drive Global Digital Inclusion.

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The daily chart for HPQ points out that the company has recorded -9.14% loss over the past six months.

If we look at the average trading volume of 8.64M shares, HPQ reached to a volume of 7578014 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about HP Inc [HPQ]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HPQ shares is $31.48 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HPQ stock is a recommendation set at 2.28. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

HSBC Securities have made an estimate for HP Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 14, 2024. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $31 to $35. The new note on the price target was released on December 12, 2023, representing the official price target for HP Inc stock. Previously, the target price had yet another raise from $33 to $40, while Evercore ISI kept a Outperform rating on HPQ stock. On November 13, 2023, analysts increased their price target for HPQ shares from 31 to 33.

The Average True Range (ATR) for HP Inc is set at 0.53, with the Price to Sales ratio for HPQ stock in the period of the last 12 months amounting to 0.53. Price to Free Cash Flow for HPQ in the course of the last twelve months was 9.51 with Quick ratio for the last quarter at 0.45.

Trading performance analysis for HPQ stock

HP Inc [HPQ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.03. With this latest performance, HPQ shares dropped by -2.57% in over the last four-week period, additionally sinking by -9.14% over the last 6 months – not to mention a drop of -5.74% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HPQ stock in for the last two-week period is set at 44.63, with the RSI for the last a single of trading hit 44.47, and the three-weeks RSI is set at 45.57 for HP Inc [HPQ]. The present Moving Average for the last 50 days of trading for this stock 29.48, while it was recorded at 28.65 for the last single week of trading, and 29.47 for the last 200 days.

HP Inc [HPQ]: A deeper dive into fundamental analysis

HP Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.45 and a Current Ratio set at 0.73.

HP Inc [HPQ]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, HP Inc posted 0.75/share EPS, while the average EPS was predicted by analysts to be reported at 0.75/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HPQ. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for HP Inc go to 7.73%.

An analysis of Institutional ownership at HP Inc [HPQ]

The top three institutional holders of HPQ stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in HPQ stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in HPQ stock with ownership which is approximately 5.8325%.