HSBC (LON:HSBA) Shares Cross Above 200 Day Moving Average - What's Next?

Key Points

• HSBC shares have recently crossed above their 200-day moving average, trading at GBX 989.63 ($13.20) with a high of GBX 995.90 ($13.28).
• Wall Street analysts have provided mixed ratings, with two analysts issuing a Buy rating and a consensus target price of GBX 980.83, reflecting an overall "Hold" sentiment.
• HSBC's market cap stands at £170.65 billion, with significant earnings evaluations indicated by its price-to-earnings ratio of 979.83.

HSBC Holdings plc (LON:HSBA - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 907.75 ($12.11) and traded as high as GBX 995.90 ($13.28). HSBC shares last traded at GBX 989.63 ($13.20), with a volume of 44,023,809 shares trading hands.

Wall Street Analysts Forecast Growth

HSBA has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a GBX 910 target price on shares of HSBC in a research note on Thursday, July 31st. Shore Capital reiterated a "hold" rating on shares of HSBC in a research note on Thursday, October 9th. JPMorgan Chase & Co. increased their target price on HSBC from GBX 870 to GBX 940 and gave the stock a "neutral" rating in a report on Tuesday, September 9th. Finally, Royal Bank Of Canada increased their target price on HSBC from GBX 900 to GBX 950 and gave the stock a "sector perform" rating in a report on Wednesday, August 13th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of GBX 980.83.

HSBC Price Performance

The company has a market cap of £170.65 billion, a price-to-earnings ratio of 979.83, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52. The stock has a 50-day moving average price of GBX 988.64 and a 200 day moving average price of GBX 907.75.

HSBC Company Profile

With assets of $3.0tn and operations in 62 countries and territories at 31 December 2022, HSBC is one of the largest banking and financial services organisations in the world. We serve approximately 39 million personal, wealth and corporate customers through three global businesses. We have around 180,000 shareholders in 126 countries and territories.

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