Target Corporation ($TGT) Stock Forecast: Down 21.9% Today

What is Target Corporation?

Target Corporation (NYSE: TGT) is a retail company offering a diverse range of products, such as apparel, home goods, and electronics. Presently, market sentiment is cautious due to concerns regarding margins and inventory issues.

Why is Target Corporation going down?

TGT stock is down 21.9% on Nov 20, 2024 20:41

• Weak third-quarter results were disclosed by Target (TGT), with earnings per share falling short of expectations and a reduction in the FY24 outlook, subsequently causing a bearish movement in the stock.
• Despite an increase in guest traffic, the company observed a decrease in the average transaction amount during the quarter, indicating potential challenges in boosting sales growth.
• Unusual options activity reflecting a bearish stance on Target also contributed to the negative sentiment surrounding the stock.
• Additionally, recent market trends reveal major indexes being in the red over the last five trading days, potentially exerting downward pressure on Target's stock price.

TGT Price Chart

TGT Technical Analysis

TGT News

Target Margins And Inventory Issues Raise Analyst Caution After Weak Q3 Performance - Target ( NYSE:TGT )

Target Corporation TGT shares are trading lower on Wednesday after it reported weak third-quarter results and slashed FY24 outlook. The company reported third-quarter adjusted earnings per share of $1.85, missing the street view of $2.30.

https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42096714/target-margins-and-inventory-issues-raise-analyst-caution-after-weak-q3-performance

Earnings Data Deluge

Pre-market futures are mostly higher at this hour, although off the peaks of roughly an hour before the opening bell. All major indexes are still in the red over the past five trading days, but remain in the green over the past month. The Dow is +85 points higher presently, +0.20%, and leads the ...

https://www.zacks.com/stock/news/2372869/earnings-data-deluge

Target Unusual Options Activity - Target ( NYSE:TGT )

Investors with a lot of money to spend have taken a bearish stance on Target TGT. We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga. Whether these are institutions or just wealthy individuals, we don't know.

https://www.benzinga.com/insights/options/24/11/42092362/target-unusual-options-activity

Target Misses Q3 Earnings & Sales Estimates, Issues Cautious Q4 View

Target experiences a 2.4% increase in guest traffic during the third quarter, though the average transaction amount declines 2%.

https://www.zacks.com/stock/news/2372852/target-misses-q3-earnings-sales-estimates-issues-cautious-q4-view

Pre-markets Heading Lower; TGT, TJX Report Q3; NVDA After the Close

Pre-market futures are up, but heading down on a pretty steep incline. we wouldn't be surprised to see a negative open from this trajectory.

https://www.zacks.com/stock/news/2372834/pre-markets-heading-lower-tgt-tjx-report-q3-nvda-after-the-close

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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.

20.10.2024 - TGT Stock was down 23.0%

• Target (TGT) fell short of Q3 earnings and revenue estimates by a considerable margin, leading to decreased investor confidence.
• Unusual options activity signaling a bearish outlook on Target likely prompted many investors to divest from the stock.
• Weak sales from Powell Industries also contributed to the negative market sentiment, potentially impacting Target's stock price.
• The recent trend of major indexes showing losses over the past five trading days may have compounded the downward pressure on Target's stock.

20.10.2024 - TGT Stock was down 18.5%

• Target (TGT) missed Q3 earnings and revenue estimates, with earnings per share and total revenue falling short of expectations.
• The supply chain disruptions negatively impacted Target's bottom line, leading to a significant decrease in quarterly earnings.
• Powell Industries also reported weak sales, contributing to the overall bearish sentiment in the market.
• The combination of missed earnings, revenue estimates, and supply chain challenges likely led to the bearish movement in TGT's stock price today.

20.10.2024 - TGT Stock was down 21.9%

• Weak third-quarter results were disclosed by Target (TGT), with earnings per share falling short of expectations and a reduction in the FY24 outlook, subsequently causing a bearish movement in the stock.
• Despite an increase in guest traffic, the company observed a decrease in the average transaction amount during the quarter, indicating potential challenges in boosting sales growth.
• Unusual options activity reflecting a bearish stance on Target also contributed to the negative sentiment surrounding the stock.
• Additionally, recent market trends reveal major indexes being in the red over the last five trading days, potentially exerting downward pressure on Target's stock price.

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.

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.

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.