HP (NYSE:HPQ) Price Target Raised to $18.00 at Bank of America

HP (NYSE:HPQ) had its price target lifted by stock analysts at Bank of America from $16.00 to $18.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “underperform” rating on the computer maker’s stock. Bank of America‘s price objective would indicate a potential downside of 29.56% from the company’s current price.

HPQ has been the subject of several other reports. Citigroup reaffirmed a “neutral” rating on shares of HP in a report on Thursday. UBS Group lowered their target price on HP from $26.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, February 19th. Morgan Stanley increased their price target on HP from $17.00 to $19.00 and gave the stock an “underweight” rating in a research report on Thursday. Zacks Research upgraded HP from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Finally, TD Cowen restated a “hold” rating on shares of HP in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $22.08.

HP Trading Up 4.6%

Shares of HPQ opened at $25.55 on Thursday. The company has a 50-day moving average of $20.29 and a two-hundred day moving average of $21.11. The stock has a market cap of $23.37 billion, a P/E ratio of 9.68, a PEG ratio of 6.75 and a beta of 1.09. HP has a 12-month low of $17.56 and a 12-month high of $29.55.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, May 27th. The computer maker reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.14. The company had revenue of $14.41 billion during the quarter, compared to analysts’ expectations of $13.99 billion. HP had a negative return on equity of 367.41% and a net margin of 4.46%.The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 earnings per share. HP has set its FY 2026 guidance at 2.900-3.100 EPS and its Q3 2026 guidance at 0.610-0.710 EPS. As a group, analysts forecast that HP will post 2.85 EPS for the current fiscal year.

Institutional Trading of HP

A number of hedge funds have recently made changes to their positions in the stock. Baird Financial Group Inc. lifted its position in HP by 13.1% in the 2nd quarter. Baird Financial Group Inc. now owns 114,169 shares of the computer maker’s stock worth $2,793,000 after buying an additional 13,265 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in HP by 2.7% during the second quarter. Gamco Investors INC. ET AL now owns 21,230 shares of the computer maker’s stock valued at $519,000 after purchasing an additional 551 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in HP by 6.4% in the second quarter. Daiwa Securities Group Inc. now owns 145,337 shares of the computer maker’s stock valued at $3,555,000 after purchasing an additional 8,779 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in shares of HP by 70.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 731,574 shares of the computer maker’s stock worth $17,894,000 after purchasing an additional 302,578 shares in the last quarter. Finally, HUB Investment Partners LLC bought a new stake in shares of HP in the 2nd quarter valued at approximately $233,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Key HP News

Here are the key news stories impacting HP this week:

• Positive Sentiment: HP beat estimates with Q2 non-GAAP EPS of $0.86 and revenue of $14.4 billion, helped by strong demand for AI-optimized PCs and the Windows 11 refresh cycle. Reuters article
• Positive Sentiment: HP also reported improved cash generation, including $0.8 billion in free cash flow, and returned $374 million to shareholders through dividends and buybacks. HP press release

About HP

HP Inc is an American multinational information technology company that designs, manufactures and sells personal computing devices, printers and related supplies and services. Its product portfolio spans consumer and commercial notebooks and desktops, workstations, displays and accessories, as well as an extensive line of printing hardware that includes home, office and production printers. HP also provides consumables such as ink and toner, managed print services, device deployment and lifecycle support, and software for device and print management.

Founded from the original Hewlett‑Packard Company, HP Inc became a separately traded public company in 2015 following a corporate split that created Hewlett Packard Enterprise to focus on enterprise hardware and services.