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

by · The Cerbat Gem

HSBC Holdings plc (LON:HSBA – Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 926.29 and traded as high as GBX 1,073.40. HSBC shares last traded at GBX 1,068.60, with a volume of 190,250,453 shares.

Wall Street Analyst Weigh In

A number of brokerages have commented on HSBA. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a GBX 910 price target on shares of HSBC in a research note on Thursday, July 31st. JPMorgan Chase & Co. raised their price target on shares of HSBC from GBX 940 to GBX 950 and gave the stock a “neutral” rating in a research note on Monday, October 20th. Shore Capital restated a “hold” rating on shares of HSBC in a research note on Tuesday. Royal Bank Of Canada raised their price target on shares of HSBC from GBX 900 to GBX 950 and gave the stock a “sector perform” rating in a research note on Wednesday, August 13th. Finally, Citigroup raised their price target on shares of HSBC from GBX 1,160 to GBX 1,240 and gave the stock a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of GBX 1,010.83.

Read Our Latest Stock Analysis on HSBA

HSBC Stock Down 1.5%

The company has a market cap of £182.27 billion, a price-to-earnings ratio of 10.47, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52. The company’s fifty day moving average price is GBX 1,001.95 and its two-hundred day moving average price is GBX 926.29.

HSBC Company Profile

(Get Free Report)

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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