Target Corporation ($TGT) Stock Forecast: Up 11.7% Today

What is Target Corporation?

Target Corporation (TGT) is a retail company known for offering a wide range of products from household essentials to fashion items. The stock had a strong bullish movement today.

Why is Target Corporation going up?

TGT stock is up 11.7% on Aug 21, 2024 18:45

• Target reported better-than-expected second-quarter financial results and raised its outlook, impressing analysts and investors.
• Despite concerns over future margin pressures, the company's raised full-year adjusted EPS outlook contributed to the bullish movement.
• The CEO's denial of price-gouging allegations may have reassured investors and contributed to the positive sentiment towards the stock.
• Target's ability to show consumer resilience amidst market fluctuations, along with positive earnings and sales growth, likely fueled the bullish momentum in the stock.

TGT Price Chart

TGT News

Target's Strong Q2 Performance Impresses Analysts, But Caution Remains Over Future Margin Pressures - Target ( NYSE:TGT )

Target Corporation TGT shares are trading higher after the company reported better-than-expected second-quarter financial results and raised its outlook. Target has raised its full-year 2024 adjusted EPS outlook to a range of $9.00 to $9.70, up from the previous range of $8.60 to $9.60.

https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40492278/targets-strong-q2-performance-impresses-analysts-but-caution-remains-over-future-ma

Price-Gouging at Target (NYSE:TGT)? Not Happening, Says CEO.

One of the new phrases that seems to be paying at least some dividends—at least for certain political parties—is the notion of “price-gouging.” Tha…

https://www.tipranks.com/news/price-gouging-at-target-nysetgt-not-happening-says-ceo

Best Stocks To Buy Right Now? 2 Dividend Stocks To Know

Dividends are the regular payments made by companies to their shareholders. They represent a way for successful companies to share their profits. Dividend stocks are shares in these companies that pay out dividends. Investors can receive dividends as cash or reinvest them to buy more shares.

https://stockmarket.com/featured/best-stocks-to-buy-right-now-2-dividend-stocks-to-know-2024-08-21

Nvidia Fever Stops Rising, Target Shows Consumer Resilient, Annual Jobs Revision May Move Markets - Apple ( NASDAQ:AAPL )

To gain an edge, this is what you need to know today. Please click here for an enlarged chart of Target Corp TGT. Target reported Q2 earnings of $2.57 vs. $2.18 consensus. Q2 comp sales increased by 2% vs. a guide of 0% - 2%. Target cut prices on 5,000 items.

https://www.benzinga.com/economics/24/08/40489424/nvidia-fever-stops-rising-target-shows-consumer-resilient-annual-jobs-revision-may-move-markets

Target (TGT) Q2 2024 Earnings Call Transcript

TGT earnings call for the period ending June 30, 2024.

https://www.fool.com/earnings/call-transcripts/2024/08/21/target-tgt-q2-2024-earnings-call-transcript/?source=iedfolrf0000001

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Target Corporation Price History

21.07.2024 - TGT Stock was up 11.9%

• Target (TGT) reported better-than-expected second-quarter financial results and raised its full-year earnings per share outlook, leading to a strong bullish movement in the stock.
• The positive earnings report, with adjusted earnings per share exceeding expectations by 40% and sales beating analyst consensus, contributed to the stock's surge.
• The upbeat earnings from Target also had a positive impact on other retail and consumer discretionary stocks, including Walmart, as investors reacted positively to the strong performance in the sector.
• The overall bullish sentiment in the market, with US stocks trading higher and consumer discretionary shares climbing, further supported the upward movement in Target's stock price.

21.07.2024 - TGT Stock was up 12.7%

• Target (TGT) reported strong Q2 earnings with earnings per share of $2.57, surpassing analyst estimates, and revenue of $25.45 billion, beating expectations.
• The company's strategic move to cut prices on 5,000 items contributed to a 2% increase in Q2 comp sales, showcasing consumer resilience and driving the bullish movement in the stock.
• The positive earnings report and growth in comparable sales indicate that Target is effectively navigating challenges and attracting increased traffic both in-store and online, leading to a favorable market response.

21.07.2024 - TGT Stock was up 11.7%

• Target reported better-than-expected second-quarter financial results and raised its outlook, impressing analysts and investors.
• Despite concerns over future margin pressures, the company's raised full-year adjusted EPS outlook contributed to the bullish movement.
• The CEO's denial of price-gouging allegations may have reassured investors and contributed to the positive sentiment towards the stock.
• Target's ability to show consumer resilience amidst market fluctuations, along with positive earnings and sales growth, likely fueled the bullish momentum in the stock.

21.07.2024 - TGT Stock was up 14.7%

• Target (TGT) experienced a strong bullish movement today following its Q2 earnings report.
• The company surpassed earnings and revenue expectations, with a significant increase in quarterly adjusted earnings per share.
• The boost in full-year profit outlook and strong digital sales performance contributed to the positive market sentiment.
• Investors reacted positively to the solid financial results, indicating confidence in Target's ability to drive growth and profitability in the retail sector.

05.02.2024 - TGT Stock was up 11.2%

• Target's stock reached an 11-month peak subsequent to the release of its fourth-quarter earnings, which surpassed expectations.
• Earnings per share rose significantly by 57.7%, while revenue saw a 1.7% increase, propelling the stock's upward trend.
• Improved gross margin, reduced expenses, and a favorable mix of product categories instilled investor confidence in Target's performance.
• The company's forecast for FY24 earnings surpassing projections added fuel to the positive market sentiment, underscoring an optimistic outlook for Target's future growth.

09.04.2024 - TGT Stock was up 1.6%

• Target (TGT) experienced a bullish movement today, reaching $158.35 at the closing bell.
• Despite some bearish options activity, the stock has outperformed the market over the past 5 years, showcasing an average annual return of 17.65%.
• The positive sentiment from Wall Street analysts, recommending investment in Target, might have contributed to the bullish movement.
• The addition of Jason Lin to Nutrabolt's marketing team, while not directly related to Target, could indicate a focus on growth and innovation within the industry, potentially influencing market sentiment positively.

22.04.2024 - TGT Stock was down 6.5%

• Target (TGT) reported a decline in sales and missed the earnings per share (EPS) estimate for the first quarter of FY24, leading to a negative market reaction.
• The tough consumer spending environment contributed to the sales decrease of 3.2% year-over-year, impacting the stock performance.
• Analysts, despite the disappointing earnings, remain optimistic about Target's future prospects, indicating a potential turnaround in the coming quarters.
• The overall sentiment towards Target (TGT) stock was influenced by the company's financial performance and market expectations, resulting in the bearish movement observed today.

05.02.2024 - TGT Stock was up 11.7%

• Target's strong bullish movement can be attributed to the unveiling of its new paid membership program, Target Circle 360, which offers expedited same-day delivery and exclusive perks for members. This initiative is seen as a strategic move to compete with industry rivals and enhance customer loyalty.
• The soaring earnings report, with EPS jumping nearly 50% in full-year 2023, has also contributed to the bullish sentiment surrounding Target's stock.
• The surprising 13% stock rally further indicates positive investor sentiment towards Target, possibly driven by the company's strong financial performance and strategic initiatives.
• Overall, Target's bullish movement reflects investor confidence in the company's growth prospects and ability to adapt to changing market dynamics in the retail sector.

22.04.2024 - TGT Stock was down 6.7%

• Target stock plummeted after reporting weaker-than-expected first-quarter earnings, with sales declining by 3.1% year-on-year and missing the analyst consensus estimate.
• Despite beating revenue expectations slightly, the EPS of $2.03 fell short of the anticipated $2.06, leading to investor disappointment.
• The tough consumer spending environment and a 3.7% decline in comparable sales further added to the negative sentiment surrounding Target's performance.
• The miss in earnings and the overall weak sales figures likely contributed to the bearish movement in Target's stock price today.

05.02.2024 - TGT Stock was up 10.3%

• Target Corp's stock experienced a strong bullish movement today, reaching an 11-month high.
• The surge in stock price can be attributed to Target's fourth-quarter earnings report exceeding expectations, with earnings per share increasing by 57.7% and revenue rising by 1.7% year-on-year.
• The impressive performance was driven by a significant expansion in gross margin rate, reflecting lower costs and a favorable category mix.
• Investors reacted positively to the earnings beat, leading to a surprising 13% stock rally as Target continues to demonstrate resilience and growth in a challenging retail environment.

01.07.2024 - TGT Stock was down 2.3%

• Smart money seems to be taking a bullish stance on Target (TGT) options, indicating a positive outlook on the company despite the bearish movement in the stock price.
• The decline in Target's stock price amidst an improving market suggests that there may be company-specific factors at play influencing the negative movement.
• While high-yield dividend stocks are generally attractive to investors, the market conditions and company performance can impact stock prices and yields, potentially contributing to the bearish movement in Target's stock.
• The positive impact of Amazon Prime Day on other stocks indicates that consumer behavior and market trends can significantly influence stock movements, which could also be a factor affecting Target's stock price today.

02.07.2024 - TGT Stock was down 5.1%

• The bearish movement in TGT stock could be attributed to profit-taking by investors after a period of bullish sentiment.
• Mentioning smart money betting big on TGT options could indicate a divergence in opinions among investors, leading to increased volatility.
• The overall market trend in the healthcare sector, with a warning to sell certain healthcare stocks, might have influenced investor sentiment towards retail stocks like TGT.
• The competition and sales events like Amazon Prime Day could have diverted consumer spending away from traditional retail stores like Target, impacting the stock price negatively.