HSBC (LON:HSBA) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

HSBC Holdings plc (LON:HSBA) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1,379.58 and traded as high as GBX 1,536.40. HSBC shares last traded at GBX 1,533.40, with a volume of 26,583,455 shares traded.

Analysts Set New Price Targets

HSBA has been the topic of several analyst reports. HSBC reiterated a “hold” rating and set a GBX 1,450 target price on shares of HSBC in a report on Wednesday, May 6th. Royal Bank Of Canada upped their price target on HSBC from GBX 1,275 to GBX 1,375 and gave the stock a “sector perform” rating in a report on Friday, August 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a GBX 1,520 price objective on shares of HSBC in a research report on Wednesday, August 5th. Jefferies Financial Group reiterated a “hold” rating and set a GBX 1,120 price objective on shares of HSBC in a research note on Tuesday, August 4th. Finally, JPMorgan Chase & Co. boosted their target price on shares of HSBC from GBX 1,380 to GBX 1,450 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Eight analysts have rated the stock with a Hold rating, According to MarketBeat.com, HSBC has an average rating of “Hold” and an average price target of GBX 1,394.25.

HSBC Price Performance

The firm has a market cap of £267.58 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 5.97 and a beta of 0.58. The business’s 50-day moving average price is GBX 1,505.49 and its two-hundred day moving average price is GBX 1,381.54.

About HSBC