HSBC (LON:HSBA) Share Price Crosses Above 200 Day Moving Average – What’s Next?

HSBC Holdings plc (LON:HSBA)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 913 ($12.21) and traded as high as GBX 991.50 ($13.26). HSBC shares last traded at GBX 987.16 ($13.20), with a volume of 20,791,033 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Shore Capital reiterated a “hold” rating on shares of HSBC in a research report on Thursday, October 9th. Royal Bank Of Canada raised their target price on shares of HSBC from GBX 900 to GBX 950 and gave the stock a “sector perform” rating in a report on Wednesday, August 13th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a GBX 910 target price on shares of HSBC in a report on Thursday, July 31st. JPMorgan Chase & Co. raised their target price on shares of HSBC from GBX 940 to GBX 950 and gave the stock a “neutral” rating in a report on Monday. Finally, Citigroup raised their target price on shares of HSBC from GBX 1,120 to GBX 1,160 and gave the stock a “buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, HSBC currently has an average rating of “Hold” and an average target price of GBX 997.50.

HSBC Price Performance

The stock’s 50-day moving average price is GBX 993.81 and its 200 day moving average price is GBX 913. The firm has a market cap of £171.04 billion, a P/E ratio of 9.82, a price-to-earnings-growth ratio of 5.97 and a beta of 0.52.

About HSBC

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.