Target Corp (NYSE: TGT) stock added $2.96 to its trading price on the July 3 trading session. It opened trading at $131.59, dipped to $131.59, hit a high of $135.32, and closed trading at $134.56, with an intraday trading volume of 4.13 Million.
In the past week, TGT stock surged over 1.90% and it reflected an upper movement of 2.76% in a month. The annual price target of TGT stock is $172.88 which is 28.19% more than the current trading price.
As per technical indicators and analyst ratings from TradingView, the ongoing movement suggests buying more of the stock. In 52 weeks, TGT stock traded at a highest price point of $183.89 and lowest at $125.08.
The market capitalization of Target Corp (NYSE: TGT) is $62.246 billion with a trading volume of 5.37 million. The dividend and yield of the company’s share is 3.26%.
Adding $2.96 to its trading price on Monday’s trading session, the upper trend percentage of TGT stock was 2.24. It was observed that more buyers were supporting the trading volume compared to sellers.
Over 459.969 million TGT shares are free-floating and the remaining 1.591 million shares are closely held by financial backers of the company or the board of directors or maybe both.
The revenue-to-profit conversion of the company includes 22% of gross profit, 6% of Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA), 4% Earnings before interest and taxes (EBIT), and 3% net income.
Target Corporation (NASDAQ: TGT) Earnings & Revenue
In Q1 2023, Target Corporation reported 0.24% more revenue than the estimated figures. The company was expected to report $25.26 billion in revenue but it reported $25.32 billion instead.
As per estimations, the company might report $25.65 billion in Q2 and $26.53 Billion in Q3 2023. Earnings per share (EPS) of Target Corporation surged more than 15% compared to the estimated EPS, and the estimated EPS for Q2 is $1.59.
From the reported revenue of Q1, the company generated $950.00 million net income with a profit margin of 3.75%. In the financial year 2022, net income was $2.78 billion and profit margin was 2.55%.
A major portion of Target Corporation revenue is generated by sellion beauty and household essentials, food & beverages, home furnishing and decor, hardlines, apparel and accessories, and many other products.
Target Corporation has its stores in the United States and majorly serves customers in this region. In 2022, a significant portion of the company’s revenue was generated by selling beauty and household essentials.
The corporate headquarters of the American mass-market retailer Target are in Minneapolis, Minnesota. George Dayton founded Target in 1902 under the name Goodfellow Dry Goods, which was eventually changed to Dayton Dry Goods Company.
As a discount Dayton’s store, the first Target establishment debuted in 1962. Dayton Company moved its attention to Target in 2000 and changed its name to Target Corporation.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/07/05/tgt-stock-rose-2-24-intraday-buyers-showing-interest/