HSBC (LON:HSBA) Shares Pass Above 200-Day Moving Average - Should You Sell?

Key Points

• HSBC's share price surpassed its 200-day moving average, trading as high as GBX 954.62 ($12.93) with a last trade at GBX 953.30 ($12.91).
• Wall Street analysts maintain a consensus rating of "Hold" on HSBC, with price target estimates ranging from GBX 830 to GBX 980.
• The company's market capitalization is approximately £165.98 billion, indicating its significant position among financial service organizations globally.

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 881.26 ($11.84) and traded as high as GBX 954.62 ($12.83). HSBC shares last traded at GBX 953.30 ($12.81), with a volume of 8,505,935 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on HSBA shares. JPMorgan Chase & Co. increased their price target on HSBC from GBX 830 to GBX 870 and gave the stock a "neutral" rating in a research report on Monday, August 4th. Royal Bank Of Canada boosted their price objective on shares of HSBC from GBX 900 to GBX 950 and gave the stock a "sector perform" rating in a research report on Wednesday, August 13th. Shore Capital reissued a "hold" rating and set a GBX 980 price target on shares of HSBC in a research report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a GBX 910 price target on shares of HSBC in a report on Thursday, July 31st. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of GBX 969.17.

HSBC Price Performance

The firm has a market capitalization of £166.24 billion, a PE ratio of 945.35, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52. The company's fifty day simple moving average is GBX 932 and its 200-day simple moving average is GBX 882.23.

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.