Hewlett Packard: Bulls & Bears Prepare For Q3 Earnings Showdown

Wall Street expects Hewlett Packard Enterprise Co HPE to report 47 cents in earnings per share (EPS) and $7.66 billion in revenues when the company reports third-quarter earnings on Thursday after market hours.

The stock is up 7.19% over the past year, 12.76% year-to-date.

Let’s look at what the charts indicate for Hewlett Packard’s stock and how it currently maps against Wall Street estimates.

Hewlett Packard Stock’s Outlook Mixed Ahead Of Q3 Earnings 

Hewlett Packard’s stock chart is showing a mixed technical picture.

Chart created using Benzinga Pro

The stock is currently trading at $19.12, above its eight-day and 20-day simple moving averages of $19.05 and $18.39, respectively, which are bullish signals.

However, the stock is trading below its 50-day simple moving average of $19.60, indicating a bearish trend in the medium term. On the other hand, the stock remains above its 200-day simple moving average of $17.68, suggesting a bullish long-term outlook.

Chart created using Benzinga Pro

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The Moving Average Convergence Divergence (MACD) indicator is at a negative 0.04, which points to a bearish sentiment, while the Relative Strength Index (RSI) of 52.14 and rising, indicates that Hewlett Packard stock is heading towards the overbought territory.

Additionally, the Bollinger Bands (25) range from $16.77 to $20.12, aligning with a bullish signal as the stock price is trading in the upper bullish band.

Overall, the technicals show a mixed outlook with both bullish and bearish indicators present.

Hewlett Packard Analysts See 24% Upside

Ratings & Consensus Estimates: The consensus analyst rating on Hewlett Packard stock stands at a Neutral currently with a price target of $18.84. The latest analyst ratings from BofA Securities, Morgan Stanley and Argus Research suggest a 23.62% upside for Hewlett Packard stock, with an average price target of $23.67.

HPE Price Action: Hewlett Packard stock was trading at $35.38 at the time of publication, down 2.21%.

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