Walmart Prepares for Earnings Report Amid Strong Stock Performance

Walmart Inc WMT is set to announce its third-quarter earnings on Tuesday. Analysts are predicting earnings per share (EPS) of 53 cents and revenues of $167.72 billion, with the report expected before the market opens.

Over the past year, Walmart’s stock has risen 62.8%, reflecting a year-to-date increase of 58.59%.

Let’s examine the current stock trends for Walmart and how they align with Wall Street’s expectations.

Insights on Walmart’s Stock Performance

The current trend for Walmart’s stock is notably bullish, although there is some selling pressure evident.

Chart created using Benzinga Pro

Currently, Walmart’s stock is trading at $84.25, above several key moving averages: the eight-day simple moving average (SMA) at $84.54, the 20-day SMA at $83.34, the 50-day SMA at $81.42, and the 200-day SMA at $68.94. These indicators all signal a bullish movement.

The Moving Average Convergence Divergence (MACD) is at 1.08, reinforcing the positive outlook for the stock as it shows upward momentum.

However, the rising Relative Strength Index (RSI) at 59.56 indicates that the stock may be approaching overbought levels, warranting some caution.

Analyst Ratings and Price Targets

The consensus rating among analysts for Walmart stock is currently a Buy, with a projected average price target of $91.31. Recent ratings from Piper Sandler, BMO Capital, and Jefferies suggest an average price target of $97.67, which could present a potential upside of 15.89%.

Current Stock Trading Activity

WMT Price Action: As for stock activity, Walmart was trading down 0.46% at $83.87 when this article was published on Monday.

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