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PepsiCo (NASDAQ:PEP) Sees Positive Movement Amid Market Decline
Dec 13, 2024 10:00 AM - Alex Lavoie
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- Deutsche Bank sets a price target of $184 for PepsiCo (NASDAQ:PEP), indicating a potential upside of 15.8%.
- PEP's stock outperforms the broader market with a 1.36% increase, despite a monthly decline of 4.84%.
- Upcoming earnings report expected to show earnings of $1.95 per share and revenue of $28.12 billion.
PepsiCo (NASDAQ:PEP) is a global food and beverage leader known for its diverse product portfolio, including brands like Pepsi, Mountain Dew, and Lay's. The company competes with other giants in the consumer staples sector, such as Coca-Cola and Nestlé. Recently, Deutsche Bank's Steve Powers set a price target of $184 for PEP, suggesting a potential upside of 15.8% from its current trading price of $158.90.
In the latest trading session, PEP closed at $158.90, marking a 1.36% increase from the previous day. This positive movement is notable as it contrasts with the broader market's decline, where the S&P 500 fell by 0.54%, the Dow decreased by 0.53%, and the Nasdaq dropped by 0.66%. Despite this recent uptick, PEP's shares have declined by 4.84% over the past month, underperforming the Consumer Staples sector, which gained 0.44%, and the S&P 500, which rose by 1.5%.
Investors are eagerly awaiting PepsiCo's upcoming earnings report, scheduled for February 4, 2025. Analysts expect the company to report earnings of $1.95 per share, reflecting a year-over-year growth of 9.55%. The consensus estimate for revenue is $28.12 billion, representing a 0.97% increase from the same quarter last year. These figures are crucial as they provide insight into the company's financial health and growth prospects.
The current price of PEP is $158.90, reflecting an increase of $2.13 or 1.36%. Today, the stock has fluctuated between a low of $157.97 and a high of $159.40. Over the past year, PEP has reached a high of $183.41 and a low of $155.85. The company's market capitalization stands at approximately $218 billion, with a trading volume of 6,275,672 shares on the NASDAQ exchange.
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