Walmart Stock price — Does it have more room for upside?
On November 15, 2023, after the market, Target reported 2.1 Earnings per share of 2.1 for the third quarter which is an EPS surprise of 41.89 % and 36.36% over the third quarter of 2022. The stock shot up more than 15% when the market opened. On the other hand, Walmart reported earnings on Nov 16 with an EPS of 1.53 per third quarter 2023 which is a surprise of 0.66% and is 2% over the third quarter of 2022. Walmart stock price tanked more than 9% when the market opened.
Walmart witnessed growth in all segments and had beaten the expectations. Target had a higher operating income because of the higher operating income margin rate. However both the companies had issued warnings about consumer spending in the coming quarters.
The question was why Walmart stock price tanked despite beating expectations when Target's stock price shot up. Fundamentally, The answer lies in expectations. Walmart stock price moved higher with the expectations that they would beat the estimates before the earnings whereas Target stock price was at lows after last quarter's earnings and investors were looking for positive data to price the stock.
In the video below, we will look at the Walmart stock price from a technical analysis perspective. The video discusses how Walmart stock price is positioned after earnings. Also…
