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Home Depot (HD) Stock Forecast & Price Target

$352.02
-7.60 (-2.11%)
(As of 03:21 PM ET)

Home Depot - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Based on 28 Wall Street analysts who have issued ratings for Home Depot in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 28 analysts, 1 has given a sell rating, 7 have given a hold rating, and 20 have given a buy rating for HD.

Consensus Price Target

$380.58
8.11% Upside
High Forecast$426.00
Average Forecast$380.58
Low Forecast$315.00

According to the 28 analysts' twelve-month price targets for Home Depot, the average price target is $380.58. The highest price target for HD is $426.00, while the lowest price target for HD is $315.00. The average price target represents a forecasted upside of 8.11% from the current price of $352.02.

TypeCurrent Forecast
7/25/23 to 7/24/24
1 Month Ago
6/25/23 to 6/24/24
3 Months Ago
4/26/23 to 4/25/24
1 Year Ago
7/25/22 to 7/25/23
Consensus Rating
Moderate Buy
Moderate Buy
Moderate Buy
Moderate Buy
Strong Buy
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
Buy
20 Buy rating(s)
19 Buy rating(s)
18 Buy rating(s)
14 Buy rating(s)
Hold
7 Hold rating(s)
8 Hold rating(s)
7 Hold rating(s)
11 Hold rating(s)
Sell
1 Sell rating(s)
1 Sell rating(s)
1 Sell rating(s)
0 Sell rating(s)
Consensus Price Target$380.58$377.46$375.96$324.50
Forecasted Upside8.11% Upside8.72% Upside6.88% Upside9.05% Upside
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HD Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.
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HD Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.
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Home Depot Stock vs. The Competition

TypeHome DepotRetail/Wholesale CompaniesS&P 500
Consensus Rating Score
2.68
2.45
2.51
Consensus RatingModerate BuyHoldModerate Buy
Predicted Upside5.79% Upside53.46% Upside9.25% Upside
News Sentiment RatingPositive News
Neutral News
Positive News
DateBrokerageAnalyst NameActionRatingPrice TargetUpside/Downside on Report DateDetails
7/16/2024Jefferies Financial Group
2 of 5 stars
 Initiated CoverageBuy$426.00+15.41%
7/15/2024Stifel Nicolaus
4 of 5 stars
 Boost TargetHold ➝ Hold$374.00 ➝ $380.00+6.63%
6/26/2024DA Davidson
3 of 5 stars
M. Baker
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UpgradeNeutral ➝ Buy$352.00 ➝ $395.00+16.75%
5/15/2024TD Cowen
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 Lower TargetBuy ➝ Buy$440.00 ➝ $420.00+20.21%
5/15/2024HSBC
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 Lower TargetReduce ➝ Reduce$323.00 ➝ $318.00-8.98%
5/15/2024Raymond James
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 Reiterated RatingMarket Perform ➝ Market Perform
5/15/2024Truist Financial
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 Lower TargetBuy ➝ Buy$417.00 ➝ $406.00+17.60%
5/15/2024UBS Group
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 Lower TargetBuy ➝ Buy$411.00 ➝ $400.00+15.86%
5/14/2024Evercore ISI
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 Boost TargetOutperform ➝ Outperform$415.00 ➝ $420.00+24.07%
5/14/2024Telsey Advisory Group
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 Reiterated RatingMarket Perform ➝ Market Perform$360.00 ➝ $360.00+5.57%
5/10/2024Wedbush
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S. Basham
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Reiterated RatingOutperform ➝ Outperform$410.00+18.06%
5/9/2024Wells Fargo & Company
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 Lower TargetOverweight ➝ Overweight$425.00 ➝ $400.00+16.04%
5/7/2024Citigroup
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 Lower TargetBuy ➝ Buy$415.00 ➝ $395.00+15.86%
4/5/2024Guggenheim
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 Reiterated RatingBuy ➝ Buy$390.00+9.33%
4/2/2024Zelman & Associates
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 UpgradeNeutral ➝ Outperform
4/1/2024Bank of America
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 Boost TargetBuy ➝ Buy$400.00 ➝ $425.00+10.79%
3/19/2024Mizuho
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 Initiated CoverageBuy$415.00+11.59%
2/26/2024Royal Bank of Canada
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 Boost TargetSector Perform ➝ Sector Perform$299.00 ➝ $377.00+0.99%
2/14/2024Robert W. Baird
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 Reiterated RatingAverage ➝ Outperform$370.00+3.38%
2/13/2024The Goldman Sachs Group
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 Boost TargetBuy ➝ Buy$347.00 ➝ $393.00+9.68%
1/22/2024Oppenheimer
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 DowngradeOutperform ➝ Market Perform
1/16/2024Piper Sandler
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 UpgradeNeutral ➝ Overweight$311.00 ➝ $400.00+12.45%
1/4/2024Barclays
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 UpgradeEqual Weight ➝ Overweight$325.00 ➝ $372.00+10.01%
11/15/2023Morgan Stanley
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 Lower TargetOverweight ➝ Overweight$350.00 ➝ $335.00+9.42%
8/16/2023Loop Capital
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 Boost TargetHold ➝ Hold$300.00 ➝ $315.00-5.11%
8/16/2023Sanford C. Bernstein
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 Boost TargetMarket Perform ➝ Market Perform$314.00 ➝ $328.00-1.19%
8/15/2023JPMorgan Chase & Co.
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 Boost TargetOverweight ➝ Overweight$321.00 ➝ $335.00+0.92%
7/26/2023Argus
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 Lower TargetBuy$400.00 ➝ $350.00+6.44%
5/17/2023Credit Suisse Group
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 Lower Target$320.00 ➝ $310.00+9.80%
2/22/2023Roth Mkm
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 Lower TargetNeutral$312.00 ➝ $292.00-2.00%
2/22/2023Cowen
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 Lower TargetOutperform$379.00 ➝ $360.00+21.06%
11/9/2022MKM Partners
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David Bellinger
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Lower Target$330.00 ➝ $312.00+6.89%
10/19/2022Exane BNP Paribas
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Chris Bottiglieri
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DowngradeOutperform ➝ Neutral$286.00+2.01%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Wednesday at 03:40 PM ET.

HD Forecast - Frequently Asked Questions

What is Home Depot's forecast for 2024?

According to the research reports of 28 Wall Street equities research analysts, the average twelve-month stock price forecast for Home Depot is $380.58, with a high forecast of $426.00 and a low forecast of $315.00.

Should I buy or sell Home Depot stock right now?

28 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Home Depot in the last year. There is currently 1 sell rating, 7 hold ratings and 20 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" HD shares.

Does Home Depot's stock price have much upside?

According to analysts, Home Depot's stock has a predicted upside of 9.71% based on their 12-month stock forecasts.

Has Home Depot been upgraded by Wall Street analysts recently?

Over the previous 90 days, Home Depot's stock had 1 upgrade by analysts.

What analysts cover Home Depot?
Do Wall Street analysts like Home Depot more than its competitors?

Analysts like Home Depot more than other "retail/wholesale" companies. The consensus rating for Home Depot is Moderate Buy while the average consensus rating for "retail/wholesale" companies is Hold. Learn more on how HD compares to other companies.


This page (NYSE:HD) was last updated on 7/24/2024 by MarketBeat.com Staff

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