HSBC (LON:HSBA) Stock Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• HSBC's stock price has risen above its 200-day moving average, trading at GBX 949.50 ($12.75), indicating potential upward momentum.
• Analysts have given HSBC a consensus rating of "Hold" with a target price averaging GBX 947.86 ($12.73), suggesting caution among investors.
• HSBC operates globally with assets of $3.0 trillion and serves around 39 million customers, making it one of the largest banking institutions in the world.

HSBC Holdings plc (LON:HSBA - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 869.98 ($11.77) and traded as high as GBX 949.50 ($12.85). HSBC shares last traded at GBX 949.50 ($12.85), with a volume of 17,435,771 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on HSBC from GBX 830 ($11.23) to GBX 870 ($11.77) and gave the company a "neutral" rating in a research note on Monday, August 4th. Royal Bank Of Canada upped their price objective on HSBC from GBX 900 ($12.18) to GBX 950 ($12.85) and gave the company a "sector perform" rating in a research note on Wednesday. Shore Capital reiterated a "hold" rating and issued a GBX 980 ($13.26) price objective on shares of HSBC in a research note on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a GBX 910 ($12.31) price objective on shares of HSBC in a research note on Thursday, July 31st. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, HSBC currently has an average rating of "Hold" and a consensus target price of GBX 955 ($12.92).

HSBC Stock Down 0.2%

The stock has a market cap of £212.84 billion, a PE ratio of 9.17, a P/E/G ratio of 5.97 and a beta of 0.52. The firm has a 50-day simple moving average of GBX 907.99 and a 200-day simple moving average of GBX 871.16.

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.