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- 1 Walmart stock price reached its 52-week high with over 19% price rise in a year.
- 2 The company has recently reported its Q2 earnings report after which bullishness was seen.
Walmart (WMT) stock price was showing an upside market trend that supported its price to reach $162.99, its 52-week high. With an upside trend, Walmart’s stock price traveled above its 20-day EMA. However, the stock price started its journey this week with over 0.64% price decline.
Will Walmart Stock Stay Up From its 20-day EMA?
After the recent quarter report, active bulls have shown their market dominance during intraday trading sessions. After the recent quarter, Walmart’s stock price rose upwards from its 50-day EMA. While still keeping its upside journey above its 20-day EMA. However, on this Monday, September 3, 2023, WMT stock showed increased bearish activity.
As the above chart shows, the RSI of WMT stock price also started its rising journey but due to recent bearish activity, the RSI has changed its way. If the recent bearish trend stays during the upcoming trading session, then Walmart stock price may touch its 20-day EMA.
Heading towards its 1-year price target, which analysts have set at $178.03. It is up over 10% from the recent closing price of WMT stock, Whereas their maximum estimate is at $210.00 while the minimum estimate is $163.00. Moreover, in the past 3 months, analysts have given a “buy” rating to WMT shares.
Recent Quarter Update of Walmart
Walmart Inc. (NYSE: WMT), an American multinational retail corporation, has a market cap of nearly $435.08 Billion. According to Yahoo Finance, almost 33% of Walmart shares are held by institutions while nearly 47% of shares are held by all insiders. Vanguard Group Inc. and Blackrock Inc. are two top institutional holders of WMT stock.
In mid-August 2023, the company reported its Q2 2023 result that states its net income is $7.89 Billion. WMT price-to-sales ratio is 0.70 and it has an Enterprise Value to EBITDA ratio of 14.85. Walmart Inc. pays its dividends quarterly whereas the next dividend per share is expected to be $0.57 and as of today, the Dividend Yield (TTM)% is 1.40%.
As per a recent Q2 report, WMT earnings per share (EPS) is $1.84 whereas the estimation was $1.71 which accounts for a 7.84% surprise. The revenue for the same period amounts to $161.63 Billion despite the estimated figure of $160.22 Billion.
For the upcoming Q3 2023, the estimated EPS is $1.50 and revenue is expected to reach $158.87 Billion. Moreover, in 2022, the revenue of Walmart Inc. reached $611.29 Billion. Out of which, $420.55 Billion came from its highest performing source at the moment, Walmart United States.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
