Is HP Stock a Buy Now?
's (NYSE: HPQ) stock fell 7% on Aug. 30 after the PC and printer maker posted its latest earnings report. For the third quarter of fiscal 2023, which ended on July 31, its revenue fell nearly 10% year over year to $13.2 billion and missed analysts' estimates by $200 million. Its adjusted earnings per share (EPS) dropped 17% to $0.86 but matched the consensus forecast.
HP's top and bottom declines weren't surprising, since the PC market is still stuck in a post-pandemic slowdown. However, its weaker-than-expected sales growth and grim near-term outlook suggest it still hasn't reached its cyclical trough yet. Should investors take a chance on HP before that turnaround happens?
Image source: Getty Images.
Source Fool.com
HP Inc. Stock
€31.97
-0.850%
We see a rather positive sentiment for HP Inc. with 15 Buy predictions and 2 Sell predictions.
With a target price of 33 € there is a slightly positive potential of 3.24% for HP Inc. compared to the current price of 31.97 €.
