HP Inc. (NYSE:HPQ) posted upbeat results for the third quarter and raised its FY2026 earnings forecast on Wednesday.
HP reported quarterly earnings of 83 cents per share, which beat the analyst estimate of 69 cents. Quarterly revenue came in at $15.68 billion, which beat the Street estimate of $14.43 billion and was up from $13.93 billion in the same period last year.
"In the third quarter we increased both total sales and share in premium products and continued to attract new customers with innovations in WXP, Print, workstations and AI PCs. Our ongoing strategy to address environmental constraints led to meaningful improvements in memory supply and higher fulfillment rates," said Bruce Broussard, Interim CEO of HP.
HP raised its fiscal 2026 adjusted EPS guidance to a new range of $3.19 to $3.29, versus the $3.04 analyst estimate.
HP shares fell 3.8% to trade at $29.33 on Thursday.
These analysts made changes to their price targets on HP following earnings announcement.
- Morgan Stanley analyst Erik Woodring maintained the stock with an Underweight rating and raised the price target from $17 to $19.
- UBS analyst David Vogt maintained the stock with a Neutral and raised the price target from $26 to $28.
- TD Cowen analyst Krish Sankar maintained the stock with a Hold and boosted the price target from $26 to $30.
Considering buying HPQ stock? Here’s what analysts think:
Photo via Shutterstock