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- Target tops estimates – the stock is soaring
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- Target tops estimates – the stock is soaring
- Founded: June 24, 1902
- Headquarters: Target Plaza Minneapolis, Minnesota, United States
- Number of employees: 440,000 (2023)
- Industry: Retail
- Key people: Brian Cornell (Chairman & CEO)
- 1 month: +17.13%
- 3 months: +0.26%
- Year-to-date: -13.39%
- 1 year: -16.97%
- Jefferies: $135
- Telsey Advisory Group: $145
- Tigress Financial: $180
- Evercore ISI Group: $130
- B of A Securities: $135
- Truist Securities: $116
- Stifel: $130
- HSBC: $140
- Morgan Stanley: $140
- Volatility never sleeps. Trade over earnings releases as they happen outside of main trading hours
- Reduce your risk and hedge your existing positions ahead of a new trading day
- Extended trading hours on popular US stocks means extended opportunities
News & AnalysisNews & AnalysisTarget Corporation (NYSE: TGT) released Q3 financial results before the market open in the US on Wednesday.
The US retail giant beat both revenue and earnings per share (EPS) estimates for the previous quarter, sending the stock higher.
Company overview
The results
Target reported revenue of $25.398 billion for Q3 (down by 4.2% from the same period in 2022) vs. $25.285 billion estimate, according to TradingView.
EPS reported at $2.10 per share (up by 35.9% year-over-year), exceeding analyst estimate of $1.474 per share.
CEO commentary
“In the third quarter, our team continued to successfully navigate our business through a very challenging external environment. While third quarter sales were consistent with our expectations, earnings per share came in far ahead of our forecast. This profit performance benefited from our team’s commitment to efficiency and disciplined inventory management, and I’d like to thank them for their tireless efforts. Looking ahead, we’re continuing to make investments throughout our business — in our assortment, our team and the services we offer — to provide the newness, affordability and convenience our guests want during the holiday season and beyond,” company CEO, Brian Cornell commented on the latest results and future plans.
The stock was up by over 16% after posting better-than-expected results. Shares were trading at around $129.55 – the highest level since 18/8/2023.
Stock performance
Target price targets
Target Corporation is the 270th largest company in the world with a market cap of $59.61 billion, according to CompaniesMarketCap.
You can trade Target Corporation (NYSE: TGT) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD.
GO Markets now offers pre-market and after-market trading on popular US Share CFDs.
Trade the pre-market session: 4:00am to 9:30am, normal session, and after-market session: 4:00pm to 8:00pm, Eastern Standard Time.
Why trade during extended hours?
Sources: Target Corporation, TradingView, MarketWatch, MetaTrader 5, CompaniesMarketCap, Wikipedia
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Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.
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