Target (TGT) Stock 24% Down After Reporting 52% Decline in Q1 Returns
- Target stock traded at $161.61 at this publication.
- TGT dropped 24.93% (-53.68) today.
- Here’s what you may want to know about investing in Target Corporation shares.
The Target stock plunged by 24% on Thursday amid continued declines after the firm revealed a 52% loss in Q1 returns on Monday. The TGT share saw a sharp plunge immediately after announcing the results, exhibiting a red picture since then.
Target Corporation saw its quarterly returns more than halved. Moreover, the firm warned about a large margin this year because of the surging freight and fuel prices amid persistent inflation. The profits reports attracted market players in the space. As a result, we created this content to help anyone interested in purchasing TGT shares at a discounted price.
Where to Purchase Target Stock
- Saxo Markets
You can use this platform in your investment undertakings. Saxo Markets allows individuals access to more than 40,000 tradeable products across over ten asset classes. Moreover, there’s no need for many accounts as you can trade, invest and hedge with one account. You can visit their official website for more insights.
- Trading 212
Trading 212 allows you access to free and easy-to-use investment applications, allowing anyone to trade Forex, equities, commodities, shares, and more. Moreover, the over 14 million mobile app downloads show Trading 212 is a choice of many.
About Target Corporation
Commonly ‘Target,’ Target Corporation is a big-box store chain based in America, with its headquarters in Minneapolis, Minnesota. Besides being an S & P 500 Index member, the company ranks 8th-largest retailer in the United States. Moreover, the public listed firm trades under the NYSE: TGT ticker.
Should You Purchase TGT Dip Today
Are you interested in investing in a store chain based in America? You can consider TGT stock to buy at the current dip. However, beware that the stock has maintained sharp drops since March 16 after announcing a 52% loss in Q1 net returns, citing inventory woes and high costs.
TGT Price Forecast
Though Target recorded losses in the Q1 financial report, the company remains in the profit region. Moreover, analysts expect the TGT stock to surge as the firm attempts to solve the impacts of inventory woes and high costs.
Furthermore, Target Corporation recap its revenue prediction, targeting a mid-1-digit growth in 2022 and beyond. Considering that, experts expect TGT to close the week beyond $165.
