Benzinga
Published Apr 22, 2024 16:27
Updated Apr 22, 2024 17:40
Pepsi Stock Chart Looks Bullish Ahead Of Q1 Ratings, But Analysts Are Cautious
Benzinga - by Surbhi Jain, .
PepsiCo Inc (NASDAQ:PEP) will be reporting its first-quarter earnings on April 23 before market hours.
Wall Street observers expect $1.52 in EPS and $18.12 billion in revenues.
Here’s a look at the stock:
Chart: Benzinga Pro
Also Read: Pepsi’s Fresh Face: Revamps Logo With Modern Flair, Expanding Reach In 120+ Countries
With its price of $174.81, above the five-day simple moving average (SMA) of $171.64 and the 20-day SMA of $170.88, PepsiCo displays clear bullish signals.
Additionally, the stock’s price is above the 50-day simple moving average of $168.70 and the 200-day SMA of $171.69, reinforcing the bullish sentiment.
Chart: Benzinga Pro
The Moving Average Convergence Divergence (MACD) indicator stands at 0.82 and has crossed over the signal, indicating a bullish momentum.
The Relative Strength Index (RSI) of 65.55 is steadily heading towards the overbought territory which begins at 70.
Bollinger Bands show the stock moving from the lower band to the upper band recently, reinforcing bullish sentiment for PepsiCo stock.
The most recent analyst ratings issued from April 3 onwards by Barclays, Jefferies, and Argus Research, project an average price target of $131 for Pepsi stock. These ratings suggest a potential downside of approximately 24.73% for the company’s stock.
While the technicals appear bullish, analyst ratings appear to spell caution. Investors must take into account the fundamentals of the business too, when making an investment decision regarding PepsiCo stock.
Price Action: PepsiCo stock was trading at $174.56 at the time of publication.
Read Next: ‘Once-In-A-Lifetime Opportunity’: Wealth Manager Sees Potential In These Three Stocks
Image: Unsplash
Latest Ratings for PEP
Mar 2022 | Wells Fargo | Maintains | Equal-Weight | |
Feb 2022 | DZ Bank | Downgrades | Buy | Hold |
Feb 2022 | Barclays | Maintains | Overweight |
View the Latest Analyst Ratings
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