Why Is HP Stock Trading Higher on Friday?

HP Inc. shares are rebounding and trading higher on Friday, as investors reposition following a sharp post-earnings decline.

The stock initially fell after the company released its third-quarter financial results, but buyers are re-entering the market, taking advantage of lower prices and recent analyst rating upgrades.

The Nasdaq is down 0.18%, while the S&P 500 is down 0.03%.

Analysts Adjust Price Targets

On Thursday, TD Cowen maintained a Hold rating on HP and raised its price target to $30. UBS maintained a Neutral rating while raising its target to $28. Morgan Stanley maintained an Underweight rating and raised its target to $19.

On Thursday, HP shares moved lower after the company reported quarterly results, reflecting concerns over demand for personal computers and printers.

Third-Quarter Earnings Highlights

On Wednesday, HP reported third-quarter earnings per share of 83 cents, beating analyst estimates of 69 cents by 20.29%. Revenue reached $15.68 billion, surpassing the market consensus of $14.34 billion and exceeding the $13.93 billion reported in the same period last year.

HP interim CEO Bruce Broussard said: "In the third quarter, we grew share in total sales and premium, and continued to attract new customers with innovation across WXP, Print, Workstations, and AI PCs."

HP raised its fiscal 2026 adjusted EPS guidance to $3.19-$3.29 from a prior range of $2.90-$3.10, while analysts had expected $3.04.

Technical Analysis

From a trend perspective, HP remains in a constructive long-term setup: the stock is trading above its 20-day, 50-day, 100-day, and 200-day moving averages, and the 50-day average remains above the 200-day average since a golden cross formed in June. That said, the stock sits only slightly above its 20-day average, making the near-term trend more sensitive to subsequent selling pressure.

Key resistance: $32 — a round-number level just below the 52-week high area of $32.19, where a rebound could stall

Key support: $27.50 — a nearby pivot zone closer to the 50-day moving average, making it a level bulls would want to defend on a deeper pullback

HP stock price action: As of Friday's writing, HP shares are up 1.77% at $30.15.