Home Depot Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
Portfolio Pulse from Avi Kapoor
Home Depot, Inc. (HD) is anticipated to release its first-quarter earnings on May 14, with analysts expecting an increase in earnings per share from $3.40 to $3.60 and quarterly revenue of $36.67 billion. The company continues its partnership with Alphabet Inc (GOOGL) (GOOG) on retail technology. Ahead of the earnings call, analysts have revised their forecasts and ratings for HD, with price targets ranging from $360 to $417.
May 14, 2024 | 4:15 am
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POSITIVE IMPACT
The partnership between Home Depot and Alphabet's Google Cloud, which was reaffirmed recently, underscores Alphabet's strategic focus on retail technology through its Google Cloud services. This collaboration could bolster Alphabet's position in the cloud computing market.
Alphabet's ongoing partnership with Home Depot through Google Cloud is indicative of its strategic investments in the retail sector, potentially enhancing its competitive edge in the cloud computing market. Such collaborations can foster positive perceptions among investors regarding Alphabet's growth prospects in cloud services.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
Home Depot's continued partnership with Alphabet's Google Cloud, reaffirmed on April 11, highlights ongoing collaboration on retail technology. This relationship may positively reflect on Alphabet's commitment to expanding its cloud services in the retail sector.
The reaffirmation of the partnership between Home Depot and Google Cloud is a testament to Alphabet's successful penetration and growth in the retail technology sector. Such collaborations can enhance Alphabet's image as a key player in cloud services, potentially attracting more business and positively impacting stock sentiment.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
Analysts have revised their forecasts for Home Depot ahead of its Q1 earnings, with expectations of increased earnings per share and revenue. The company's reaffirmed partnership with Alphabet's Google Cloud could also influence investor sentiment.
The anticipation of increased earnings per share and revenue, combined with strategic technology partnerships, typically generates positive investor sentiment. Analysts' revisions and price target adjustments ahead of the earnings call further underscore the potential for stock appreciation.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100