HP Inc. shares climbed to a 52-week high of $32.85 on Thursday, extending a strong rally that has pushed the personal-computer maker's stock up nearly 70% over the past six months.
The move followed the release of fiscal third-quarter results that topped Wall Street estimates on both the top and bottom lines. Revenue rose 13% to $15.7 billion, beating the consensus forecast of $14.4 billion. Earnings per share came in at $0.83, well above the expected $0.66.
On the back of the quarter's performance, HP raised its full-year fiscal 2026 EPS guidance to a range of $3.19 to $3.29 from a prior estimate, and set free cash flow guidance between $3.0 billion and $3.2 billion. The company also reaffirmed its commitment to shareholders, noting a 3.89% dividend yield and 56 consecutive years of dividend payments.
HP shares have gained 44% year-to-date and are up 13% over the trailing twelve months, outpacing broader market indices. Despite the stock's momentum, BofA Securities maintained its Underperform rating on HP while lifting its price target to $21 from $18.
InvestingPro's quantitative analysis assigned HP a fair-value estimate of $37.09, suggesting further upside from current levels. The platform's ProPicks AI screening tool has previously flagged HP alongside other large-cap performers, including Super Micro Computer, which it noted gained 185%, and AppLovin, up 157% over comparable periods.
Analysts will be watching whether HP can sustain its momentum into the fourth quarter, particularly as PC demand trends and corporate IT spending remain subject to macroeconomic headwinds.
