Pepsi Stock Chart Looks Bullish Ahead Of Q1 Earnings, But Analysts Are Cautious (CORRECTED)

Editor’s note: This story has been updated to correct a headline error.

PepsiCo Inc PEP will be reporting its first-quarter earnings on April 23 before market hours.

Wall Street observers expect $1.52 in EPS and $18.12 billion in revenues.

Here’s a look at the stock:

• PepsiCo stock is down 5.73% over the past year.
• It’s up 2.53% year-to-date.
• PepsiCo’s share price is currently above its 5, 20, and 50-day moving averages, indicating significant buying pressure and suggesting potential for further bullish movement.

Chart: Benzinga Pro

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With its price of $174.81, above the five-day simple moving average (SMA) of $171.64 and the 20-day SMA of $170.88, PepsiCo displays clear bullish signals.

Additionally, the stock’s price is above the 50-day simple moving average of $168.70 and the 200-day SMA of $171.69, reinforcing the bullish sentiment.

Chart: Benzinga Pro

The Moving Average Convergence Divergence (MACD) indicator stands at 0.82 and has crossed over the signal, indicating a bullish momentum.

The Relative Strength Index (RSI) of 65.55 is steadily heading towards the overbought territory which begins at 70.

Bollinger Bands show the stock moving from the lower band to the upper band recently, reinforcing bullish sentiment for PepsiCo stock.

PepsiCo Analysts Consensus Ratings

Ratings & Consensus Estimates: The consensus analyst rating on PepsiCo stock stands at a Buy currently with a price target of $156.33.

The most recent analyst ratings issued from April 3 onwards by Barclays, Jefferies, and Argus Research, project an average price target of $131 for Pepsi stock. These ratings suggest a potential downside of approximately 24.73% for the company’s stock.

While the technicals appear bullish, analyst ratings appear to spell caution. Investors must take into account the fundamentals of the business too, when making an investment decision regarding PepsiCo stock.

Price Action: PepsiCo stock was trading at $174.56 at the time of publication.

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