HDFC Bank Limited (HDB) shares are trading at lower $49.27 and the avg recommendation for the stock is Strong Buy. while the current analyst price target stands at $51.50.
To add more color to this target, the company’s high over the last year is $65.38 and the low is $29.50. Over the last 52 weeks, HDB is down -6.15% while the S&P 500 is up 11.20%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. HDB has a short ratio of 3.89 and outstanding shares of 1.83B.
HDB has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.23 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.52. Investors should also keep an eye on sector updates as HDB has historically followed its peers on positive news.
All told, HDFC Bank Limited HDB has strung together solid data and demonstrated underlying fundamentals. At its current valuation, HDB represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
HDFC Bank Limited HDB is now commanding a market cap of 90.03B. HDB is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of HDB stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in HDB, either long or short, and we have not been compensated for this article.