Why Is HP Inc (HPQ) Stock Down Today?

Shares of HP Inc HPQ are down Wednesday after the company reported its second-quarter earnings results.

What To Know: HP posted second-quarter EPS of 80 cents Tuesday after the bell, beating estimates of 76 cents. However, sales came in at $12.91 billion, missing estimates of $13.07 billion, according to Benzinga Pro.

Following the print, BofA Securities analyst Wamsi Mohan maintained HP with an Underperform rating and raised the price target from $26 to $27. UBS analyst David Vogt maintained HP with a Neutral rating and raised the price target from $30 to $31. 

Despite the mixed results, HP president and CEO Enrique Lores highlighted the adversity the company overcame by saying, "Our disciplined execution and strong innovation in a tough macro environment allowed us to deliver non-GAAP EPS at the high-end of our target in Q2. We are well-positioned to win in our markets and drive long-term sustainable growth as we make continued progress against our Future Ready plan."

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HPQ Price Action: Shares of HPQ were down 4.01% at $29.69 at the time of publication, according to Benzinga Pro.

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