La vendita allo scoperto per Target dà agli investitori un'idea del grado in cui gli investitori stanno scommettendo sul declino delle azioni di Target. I dati relativi alle vendite allo scoperto vengono aggiornati ogni due settimane.

Target (NYSE:TGT) Azioni, Report sulle vendite allo scoperto

Target

Target serves as the nation's seventh-largest retailer, with its strategy predicated on delivering a gratifying in-store shopping experience and a wide product assortment of trendy apparel, home goods, and household essentials at competitive prices. Target's upscale and stylish image began to carry national merit in the 1990s-a decade in which the brand saw its top line grow threefold to almost $30 billion-and has since cemented itself as a leading US retailer. Today, Target operates over 1,950 stores in the United States, generates over $100 billion in sales, and fulfills over 2 billion customer orders annually. The firm's vast physical footprint is typically concentrated in urban and suburban markets as the firm seeks to attract a more affluent consumer base.

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Jim Cramer elogia Target per il suo rendimento del 3% e risultati finanziari eccellenti: ecco perché è un&#39;opportunità imperdibile!

Jim Cramer elogia questo titolo: &#34;Il rendimento del 3% è fantastico!&#34;

Target Corp

TARGETED MICRO SOL ORD by Targeted Microwave Solutions Inc.

Targeted Microwave Solutions Inc

TG Therapeutics Inc

Stifel analyst Mark Astrachan maintains Target (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) with a Hold and lowers the price target from $165 to $137.

Price Target

Analyst Ratings

Stifel Maintains Hold on Target, Lowers Price Target to $137

Guggenheim analyst Robert Drbul maintains Target (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) with a Buy and lowers the price target from $180 to $145.

Guggenheim Maintains Buy on Target, Lowers Price Target to $145

TD Cowen analyst Oliver Chen maintains Target (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) with a Hold and lowers the price target from $165 to $145.

TD Cowen Maintains Hold on Target, Lowers Price Target to $145

Shares of Target Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) recovered slightly in early trading on Thursday, after tanking on the company's <a href="https://www.benzinga.com/news/earnings/earnings-beats/24/11/42106249/target-says-shoppers-wait-for-deals-a-day-after-rival-walmart-credits-market-gains-to-wealthy-households-tgt-edges-up-marginally-in-thursday-premarket">third-quarter earnings miss</a>.
<ul>
<li>JPMorgan <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/584847d9ee7bf6000154d225/christopher-horvers">analyst Christopher Horvers</a> maintained a Neutral rating, while slashing the price target from $167 to $139.</li>
<li>Goldman Sachs <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58580bcbee7bf60001bcfa29/kate-mcshane">analyst Kate McShane</a> reiterated a Buy rating, while reducing the price target from $192 to $164.</li>
<li>Piper Sandler <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/61d8398a2925770001ed33b1/alexia-dogani">analyst Alexia Morgan</a> reaffirmed a Neutral rating, while cutting the price target from $156 to $130.</li>
<li>KeyBanc Capital Markets <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/59009b5a0bd9910001e5f2aa/bradley-thomas">analyst Bradley Thomas</a> maintained a Sector Weight rating on the stock. </li>
</ul>
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
JPMorgan: Target's third-quarter comps of 0.3% came significantly below the consensus of 1.4%, "as weather, continued weakness in discretionary categories, and some share loss continue to weigh on discretionary spend," Horvers said in a note. Markdowns and promotions represented "the lion's share" of the company's third-quarter gross margin miss and is "the big driver of the implied drop in 4Q gross margins," he added.
"We believe TGT continues to face share issues of varying degrees across all categories, sans beauty, but the trend appears to be improving," the analyst wrote. The stock got battered after the earnings release and is likely to bounce bank, he further stated.
Goldman Sachs: Target's disappointing comps were due to a decline in ticket size, with consumers continuing to spend cautiously, "most notably in discretionary categories," McShane said. The company's beauty segment bucked the trend and delivered comps of more than 6%, while food &amp; beverage and essentials delivered low single-digit growth, she added.
Target's gross margin contracted by around 20 basis points to 27.2% and came in below consensus, the analyst stated. "We would note this was the most significant change for the quarter as 2Q gross margins were up ~190 bps," she further wrote.
Piper Sandler: "While part of the Q3 miss can be attributed to transitory factors surrounding supply chain costs and discretionary sales weakness (apparel, home, etc.), results also suggest some ongoing share loss," Morgan wrote in a note. The company's gross margin came in at 27.2%, significantly short of consensus of 28.5%, she added.
Target's performance hinges on a recovery in discretionary consumer spending and, once this happens, the company's fundamentals are likely to improve, the analyst stated. "However, we now have increased concerns with tariff dynamics and how they could impact supply chain and sourcing costs in 2025 &#8211; particularly considering today&#8217;s margin miss was partly from navigating port strikes," she further wrote.
KeyBanc Capital Markets: Target's third-quarter results missed expectations due to "slower sales and unexpected margin pressure," Thomas said. Lower ticket sizes weighed on comps, which came well below expectations, he added.
Given the disappointing third-quarter performance and soft expectations for the fourth quarter, management lowered their 2024 guidance for comps and earnings below consensus, the analyst stated. "Looking ahead, we see consumer headwinds, competitive pressures, and moderating margin opportunities as potentially limiting upside for shares," he further wrote.
Price Action: Shares of Target had declined by 0.62% to $122.51 at the time of publication on Thursday.
Read More: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/earnings-beats/24/11/42100904/target-plunges-21-while-williams-sonoma-soars-27-on-same-day">Target Plunges 21% While Williams-Sonoma Soars 27% On Same Day</a></li>
</ul>
Image: Shutterstock

Analyst Color

Earnings Beats

Reiteration

Movers

Target Posts Q3 Earnings Miss: Analysts Slash Forecasts On Market Share Loss, Margin Concerns

Evercore ISI Group analyst Greg Melich maintains Target (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) with a In-Line and lowers the price target from $165 to $130.

Evercore ISI Group Maintains In-Line on Target, Lowers Price Target to $130

B of A Securities analyst Robert Ohmes maintains Target (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) with a Buy and lowers the price target from $195 to $160.

B of A Securities Maintains Buy on Target, Lowers Price Target to $160

BMO Capital analyst Kelly Bania maintains Target (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) with a Market Perform and lowers the price target from $160 to $120.

BMO Capital Maintains Market Perform on Target, Lowers Price Target to $120

JP Morgan analyst Christopher Horvers maintains Target (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) with a Neutral and lowers the price target from $167 to $139.

JP Morgan Maintains Neutral on Target, Lowers Price Target to $139

Piper Sandler analyst Peter Keith maintains Target (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) with a Neutral and lowers the price target from $156 to $130.

Piper Sandler Maintains Neutral on Target, Lowers Price Target to $130

Roth MKM analyst Bill Kirk maintains Target (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) with a Neutral and lowers the price target from $157 to $131.

Roth MKM Maintains Neutral on Target, Lowers Price Target to $131

Telsey Advisory Group analyst Joseph Feldman maintains Target (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) with a Outperform and lowers the price target from $195 to $150.

Telsey Advisory Group Maintains Outperform on Target, Lowers Price Target to $150

With more than a week of deals planned across the entire assortment, Target will offer some of its lowest prices of the season on thousands of items, including up to 50% off tech, apparel, video games, board games, small appliances, luggage, holiday trees and other must-have items for gifting and gathering.

Target Reveals Its Lineup Of Black Friday Deals Available Now Through Nov. 30 Online And In Its Stores

Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) and Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) released their September quarter results just a day apart. Target&#8217;s management highlighted that its customers were most active during sales and promotional events, while Walmart&#8217;s leadership attributed 75% of its market share growth to households earning six-figure incomes.
Target&#8217;s executive vice president and chief commercial officer company Rick Gomez said that their consumers &#8220;know there are deals to be found, they&#8217;re willing to wait for sales and willing to search across multiple retailers.&#8221; While the latter&#8217;s chief executive officer, Doug McMillon attributed <a href="https://www.benzinga.com/news/earnings/earnings-beats/24/11/42085839/us-retail-giant-walmarts-growth-is-fueled-by-75-of-its-customers-earning-in-six-figures-ceo-doug-mcmillon-explains">75% of their market share gains</a> to "households earning more than $100,000."
Also read: <a href="https://www.benzinga.com/news/earnings/earnings-beats/24/11/42085839/us-retail-giant-walmarts-growth-is-fueled-by-75-of-its-customers-earning-in-six-figures-ceo-doug-mcmillon-explains">Walmart Market Share Surges As Six-Figure Income Households Drive 75% Of Growth In Q3: &#8216;People Come To Us To Shop As A Primary Destination&#8217;</a>
What Happened: Gomez highlighted that Target&#8217;s consumers were looking for promotions with an example. &#8220;Our Target Circle week this quarter was one of our biggest yet. However, we saw a more pronounced sales dip both the week before and the week after the event, showing just how planful consumers are in seeking out promotions when they shop.&#8221;
&#8220;Similarly, we saw consumers lean into everyday essential stock-up promotions throughout the quarter to further stretch their monthly budgets. We saw a strong reaction to promotions throughout the quarter,&#8221; he added.
On the flip side, John David Rainey the chief financial officer of Walmart re-affirmed his CEO&#8217;s view and said, &#8220;we're seeing higher engagement across income cohorts with upper-income households continuing to account for the majority of our share gains.&#8221;
Why It Matters: Shares of Target Corporation plunged by 21.41% to close at $121.72 apiece, on Wednesday, as compared to a 0.16% advance in the NYSE Composite Index. <a href="https://www.benzinga.com/news/earnings/24/11/42085436/target-q3-earnings-supply-chain-chaos-hits-bottomline-slashes-annual-profit-outlook-stock-tanks">Target&#8217;s third-quarter</a> adjusted earnings per share of $1.85, missed the street view of $2.30. Quarterly total revenue of $25.67 billion (+1.1% year over year) missed the analyst consensus estimate of $25.90 billion.
Brian Cornell, chair and chief executive officer of Target said, "We encountered some unique challenges and cost pressures that impacted our bottom-line performance.&#8221; The third-quarter gross margin rate decreased by 0.2 percentage points to 27.2%.
Also read: <a href="https://www.benzinga.com/news/earnings/24/11/42085436/target-q3-earnings-supply-chain-chaos-hits-bottomline-slashes-annual-profit-outlook-stock-tanks">Target Q3 Earnings: Supply Chain Chaos Hits Bottomline, Slashes Annual Profit Outlook, Stock Tanks</a>
On Tuesday, <a href="https://www.benzinga.com/pressreleases/24/11/b42058916/walmart-reports-strong-revenue-growth-of-5-5-with-operating-income-growing-faster-at-8-2">Walmart&#8217;s third-quarter results</a> beat estimates and the fiscal 2025 guidance was raised. Its shares rose 3% on Tuesday, while it was further up by 0.67% to $87.18 apiece as per Wednesday&#8217;s close.
Walmart&#8217;s ales were at $169.59 billion, up 5.5% year over year or 6.2% (at constant currency), beating the consensus of $167.72 billion. The gross margin rate was up 21 bps to 24.2% aided by improvement in the Walmart U.S. Operating income was up by $0.5 billion or 8.2% year over year at $6.7 billion.
Price Action: On a year-to-date basis, Walmart has surged by 64.19%, while Target is down by 14.94%, according to <a href="http://pro.benzinga.com">Benzinga Pro</a> data. The NYSE Composite Index was up 17.26% in the same period. In Thursday&#8217;s premarket, TGT shares were up 0.5%. 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="272" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21041932/Walmart-vs-TGT-1024x272.png" alt="" class="wp-image-658433" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21041932/Walmart-vs-TGT-1024x272.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21041932/Walmart-vs-TGT-300x80.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21041932/Walmart-vs-TGT-768x204.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21041932/Walmart-vs-TGT-1536x408.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21041932/Walmart-vs-TGT.png 1741w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read next: <a href="https://www.benzinga.com/24/11/42103600/us-dollar-may-test-10860-level-as-geopolitical-tensions-cautious-fed-rhetoric-and-solid-us-economic-data-may-push-the-greenback-higher-says-expert">Dollar Upside On The Cards Amid Geopolitical Tensions, Cautious Fed And Solid US Economic Data, Says Expert</a>
Image via Flickr/ Mike Mozart

Earnings Misses

Equities

General

Target Says Shoppers Wait For 'Deals' A Day After Rival Walmart Credits Market Gains To Wealthy Households: TGT Edges Up Marginally In Thursday Premarket

The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, while the index remained in the &#8220;Neutral&#8221; zone on Wednesday.
U.S. stocks settled mixed on Wednesday, with the Dow Jones index gaining more than 100 points during the session.
Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) shares fell more than 21% on Wednesday after the company reported downbeat results for the third quarter and lowered its FY24 outlook. Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) posted upbeat earnings and sales results, after the closing bell on Wednesday.
On the economic data front, mortgage applications in the U.S. rose 1.7% from the previous week in the week ending Nov. 15, compared to a 0.5% gain in the prior period.
Most sectors on the S&amp;P 500 closed on a positive note, with healthcare, energy, and materials stocks recording the biggest gains on Wednesday. However, consumer discretionary and financials stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 140 points to 43,408.47 on Wednesday. The S&amp;P 500 rose 0.01% to 5,917.11, while the Nasdaq Composite fell 0.11% at 18,966.14 during Wednesday's session.
Investors are awaiting earnings results from Deere &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>), BJ&#8217;s Wholesale Club Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BJ#NYSE">BJ</a>), and Intuit Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 50.8, the index remained in the &#8220;Neutral&#8221; zone on Wednesday, versus a prior reading of 49.9.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/11/42094434/top-3-consumer-stocks-that-are-ticking-portfolio-bombs">Top 3 Consumer Stocks That Are Ticking Portfolio Bombs</a></li>
</ul>
Photo courtesy: Shutterstock

Earnings

Pre-Market Outlook

INTU

NVDA

Dow Gains Over 100 Points, Nvidia Posts Upbeat Earnings After Closing Bell: Fear & Greed Index Remains In 'Neutral' Zone

Investors were treated to quite the pair trade on Wednesday when shares of big box retailer Target Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) sunk while shares of home furnishing retailer Williams-Sonoma, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>) rocketed <a href="https://www.benzinga.com/news/buybacks/24/11/42091624/williams-sonoma-shares-spike-on-heels-of-earnings-report-1-billion-buyback-plan">off earnings</a>. The two stocks were the biggest movers of the day, according to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Price Action: Target&#8217;s stock closed the day at $121.72, down 21.41%. According to market strategist Ryan Detrick, Wednesday was the Minneapolis, Minnesota-based company&#8217;s third-worst day in history in the market.
Meanwhile, Williams-Sonoma&#8217;s price action was certainly something to write home about. The San Fransisco, California-based company&#8217;s shares closed the Wednesday trading session at $175.04, up 27.54%. This was the company&#8217;s second-best day ever in the market.
Target Earnings: Target reported earnings-per-share of $1.85 in 2024&#8217;s third quarter, <a href="https://www.benzinga.com/news/earnings/24/11/42085436/target-q3-earnings-supply-chain-chaos-hits-bottomline-slashes-annual-profit-outlook-stock-tanks">under Wall Street&#8217;s projection</a> of $2.30. Revenue numbers also fell under expectations. Net income fell 12.1% year-over-year while cost of sales and administrative expenses increases outpaced revenue growth.
Management cited cost pressures and<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42096714/target-margins-and-inventory-issues-raise-analyst-caution-after-weak-q3-performance"> continued supply chain disruption</a>s for its weak quarterly performance. The company <a href="https://www.benzinga.com/markets/equities/24/06/39544821/target-tightens-shoplifting-rules-reduces-threshold-to-50-report">has previously blamed</a> store theft as a driver of financial underperformance.
Wells Fargo and Citigroup issued a downgrade for Target stock on Wednesday, <a href="https://www.benzinga.com/quote/TGT/analyst-ratings">according</a> to Benzinga analyst ratings.
Williams-Sonoma Earnings: Williams-Sonoma&#8217;s report painted a rosier picture.
The company <a href="https://www.benzinga.com/news/buybacks/24/11/42091624/williams-sonoma-shares-spike-on-heels-of-earnings-report-1-billion-buyback-plan">reported earnings-per-share</a> of $1.96, beating estimates of $1.78. The home furnishing and cooking retailer also gained market share and raised guidance.
Laura Alber, president and CEO, highlighted the company&#8217;s margins as a catalyst for its earnings beat.
&#8220;Our operating results reflect the operational improvements that we have been focused on all year, and demonstrate the strength of our margin profile in a difficult environment," Alber said in a press release.
The Retail Industry: Target <a href="https://www.target.com/s?searchTerm=williams-sonoma&amp;tref=typeahead%7Cterm%7Cwilliams-sonoma%7C%7C%7Chistory">sells</a> Williams-Sonoma cookbooks on its online e-commerce platform.
The two earnings reports paint mixed signals for a retail industry at a crossroads. While some retailers have continued to struggle amid tough macroeconomic conditions and rapid change in the industry at large, others have flourished.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/24/11/42097545/feds-bowman-warns-on-inflation-risks-signals-neutral-rate-may-be-closer">Fed&#8217;s Bowman Warns On Inflation, Says Neutral Interest Rates May Be Closer &#8216;Than We Currently Think&#8217;</a></li>
</ul>
Photos: Shutterstock

Retail Sales

Target Plunges 21% While Williams-Sonoma Soars 27% On Same Day

Up until earlier Wednesday morning, bullish investors had every reason for fueled optimism. Yesterday, big-box retailing giant Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) delivered strong third-quarter results, posting<a href="https://www.benzinga.com/24/11/42060801/walmart-tops-q3-estimates-ecommerce-growth-shines-with-27-lifts-full-year-forecast"> adjusted earnings per share of 58 cents</a>. This easily eclipsed analysts'<a href="https://www.benzinga.com/calendars/earnings"> consensus view of 53 cents</a>. In addition, revenue hit $169.59 billion, up 5.5% on a year-over-year basis or up 6.2% on a constant-currency basis. This print also beat analysts' estimate of $167.72 billion.
Notably, as Benzinga editor Lekha Gupta pointed out, "Global eCommerce sales rose 27%, driven by store-fulfilled pickup and delivery as well as marketplace growth. Global advertising business grew 28%, including 26% for Walmart Connect in the U.S." As well, the retailer has attracted a growing shopper base of<a href="https://www.benzinga.com/news/earnings/earnings-beats/24/11/42085839/us-retail-giant-walmarts-growth-is-fueled-by-75-of-its-customers-earning-in-six-figures-ceo-doug-mcmillon-explains"> households earning a six-figure income</a>.
Walmart CEO Doug McMillon stated that, "People come to us to shop as a primary destination in many instances and then they give us feedback across categories. And if you look at our offer in food and consumables, our shares are pretty high and consistent relative to some of the things we see in general merchandise."
Unfortunately, not every economic bellwether points in an encouraging direction. While investors celebrated the implied holiday cheer of Walmart's results, they got a reality check with rival Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>). During the midweek session's premarket hours, TGT stock stumbled due to a glaring<a href="https://www.benzinga.com/news/earnings/24/11/42085436/target-q3-earnings-supply-chain-chaos-hits-bottomline-slashes-annual-profit-outlook-stock-tanks"> earnings miss</a>.
The brick-and-mortar behemoth reported adjusted Q3 EPS of $1.85, falling well short of the consensus view of $2.30. In addition, while total revenue for the quarter reached $25.67 billion — representing a 1.1% lift from the year-go period — this figure missed the expectation of $25.90 billion.
Finally, what helped drive investors to the exits was the reduced outlook for the current fiscal year. Management is now forecasting adjusted EPS to land between $8.30 and $8.90, down from the<a href="https://www.benzinga.com/node/40480867"> previous guidance of $9 to $9.70</a>. The revised guidance is also below the consensus estimate of $9.55.
The Direxion ETFs: Although the split sentiments may be confusing Wall Street, this dynamic presents a compelling showcase for Direxion's leveraged exchange-traded funds. For those who remain optimistic, investors may consider acquiring units of Direxion Daily S&amp;P 500 Bull 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPXL#NYSE">SPXL</a>). On the other hand, speculators who feel that a turn for the worst may be imminent may look at Direxion Daily S&amp;P 500 Bear 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPXS#NYSE">SPXS</a>).
Per the financial service provider's website, the SPXL and SPXS funds seek the daily investment results (before fees and expenses) of 300% (or an inverse 300% in the case of SPXS) of the performance of the S&amp;P 500 index. It's important to note, though, that investors must not hold these leveraged funds for periods greater than one day. Doing so may result in value erosion due to the daily compounding of leveraged returns.
The SPXL ETF: Predictably, the SPXL fund has been a strong performer, gaining almost 69% since the beginning of January. However, it's also possible that some cracks may be forming in the armor.
<ul>
<li>While the SPXL is above its 50-day and 200-day moving averages, it has recently been straddling its 20-day exponential moving average, indicating near-term challenges.</li>
<li>Although the SPXL has been on a blistering run, there are signs of a slowdown. In the past six months, the ETF gained just over 26%. In the past month, it has moved up less than 1%.</li>
</ul>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdebd4FcBayrcwuduihEVsyZO79aile1bGCkx3qeOmWSQSTNHot3E0oNiWaN7tZ75WxO5ZIXqyX0qJVjgucKNaRM6uXxoEtUYWtK_OkkYWbkJHCbzPVn-K43L1ZK_y1eIa0JTlb_Q?key=_kQTGEFKUN6FuKd64aaRNp76" alt="" /></figure>
The SPXS ETF: On the other end of the spectrum, SPXS has struggled under the weight of the S&amp;P 500 bull market, losing nearly 47% since the start of the year. Still, a bounce back may be on the horizon.
<ul>
<li>At the moment, SPXS is below the 20 EMA, 50 DMA and 200 DMA. However, recent momentum implies a turnaround is possible.</li>
<li>Since mid-October, a discernible increase in acquisitive volume is evident, suggesting greater confidence in the bearish thesis.</li>
</ul>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdD98lhgkOWTyzf2WA5YZyBQz14PcPfcSxbnFshV36Do49R4Yoabf6x5cgm1ZEMAxVqCmpgchGuUHpa3r0eQ0XvCu9CfHYyl2AJUb5ihwYVYpCW-v5CnBRiji1_5mkspAh_p709Gg?key=_kQTGEFKUN6FuKd64aaRNp76" alt="" /></figure>
Featured photo by <a href="https://pixabay.com/users/fietzfotos-6795508/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=6607631">Albrecht Fietz</a> from <a href="https://pixabay.com/es/photos/bosque-rastro-6607631/">Pixabay</a>.
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Technicals

ETFs

SPXL

SPXS

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Target Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) shares are trading lower on Wednesday after it reported weak <a target="_blank" href="https://www.benzinga.com/news/earnings/24/11/42085436/target-q3-earnings-supply-chain-chaos-hits-bottomline-slashes-annual-profit-outlook-stock-tanks" rel="noreferrer noopener">third-quarter results and slashed FY24 outlook.</a>
The company reported third-quarter adjusted earnings per share of $1.85,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n42084061/target-corporation-reports-third-quarter-earnings" rel="noreferrer noopener">missing the street view of $2.30</a>.
For FY24, the company now forecasts adjusted EPS between $8.30 and $8.90, down from the&nbsp;<a target="_blank" href="https://www.benzinga.com//node/40480867" rel="noreferrer noopener">previous guidance of $9.00 to $9.70</a>. The revised FY24 EPS outlook is also below the consensus estimate of $9.55.
Here are the analyst&#8217;s take on the earnings performance:
JP Morgan analyst Christopher Horvers reiterated the<a target="_blank" href="https://www.benzinga.com/quote/TGT/analyst-ratings" rel="noreferrer noopener"> Neutral rating on Target Corporation.</a>
The analyst notes that margins were a key factor in the stock&#8217;s reaction, as they are crucial to assessing the likelihood of meeting the 2025 operating margin estimate of 6.0%. While shrink (loss of inventory) helped, the analyst cautioned that higher fulfillment costs and excess inventory hurt margins, lowering the outlook.
For the fourth quarter, the analyst sees flat comparable sales, with a 40-basis-point headwind from the calendar shift, resulting in an operating margin of 4%-5% and earnings per share of $1.85-$2.45, below the Street&#8217;s expectation.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/sports/24/11/42094958/netflix-faces-class-action-lawsuit-over-streaming-crashes-during-jake-paul-mike-tyson-fight" rel="noreferrer noopener">Netflix Faces Class-Action Lawsuit Over Streaming Crashes During Jake Paul, Mike Tyson Fight</a>
BofA Securities analyst Robert F. Ohmes reiterated the Buy rating on the company, with a price forecast of $195.
The analyst notes that Target&#8217;s fiscal third-quarter earnings release raises several questions. They highlight the CEO&#8217;s comments about the &#8220;unique challenges&#8221; faced by the retailer, expressing uncertainty about the specific cost pressures encountered in the third quarter and how much of this can normalize in 2025.
Ohmes is also cautious about the impact of digital growth on gross margin in the fourth quarter and 2025, following the pressures seen in the third quarter.
Additionally, the increase in general liability expenses raises questions, and the analyst is curious about whether shrink (inventory loss) provided a tailwind during the quarter and if it aligned with initial expectations. Finally, Ohmes is concerned about the shift in store-originated comps to a negative -1.9% in the third quarter, reversing the +0.7% growth seen in the second quarter.
Price Action: TGT shares are trading lower by 21.2% to $122.88 at last check Wednesday.
Image via Unsplash
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Target Margins And Inventory Issues Raise Analyst Caution After Weak Q3 Performance

Investor sentiment remained subdued on Wednesday as escalating geopolitical tensions weighed on risk assets ahead of the week&#8217;s most anticipated event: Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) third-quarter earnings report, set to be <a href="https://www.benzinga.com/tech/24/11/42093025/will-nvidia-deliver-a-blowout-beat-in-q3-poll-says-maybe-not-but-over-half-see-stock-clearing-150">released after market close.</a>
The market mood deteriorated further after multiple outlets confirmed Ukraine&#8217;s deployment of U.K.-made Storm Shadow missiles into Russian territory, a day after launching U.S.-supplied ATACMS missiles.
The CBOE Volatility Index (VIX), widely regarded as a barometer of market anxiety, spiked over 9%, underscoring rising apprehension among investors. 
Major U.S. indices were in the red, with the tech-heavy Nasdaq 100 leading losses as technology stocks bore the brunt of the sell-off.
The U.S. dollar resumed its upward trajectory, with the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), a proxy for the greenback&#8217;s strength, climbing 0.7%. Safe-haven demand also bolstered gold, which advanced 0.7%, reflecting investors&#8217; flight to safety.
Meanwhile, natural gas emerged as the standout performer among commodities, surging over 6% on the day.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) defied the risk-off sentiment, climbing over 2% to hit a fresh intraday all-time high of $94,989. This propelled its year-to-date gains to an astonishing 123%. 
<h1 class="wp-block-heading">Wednesday&#8217;s Performance In Major Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices </td>
<td>Price</td>
<td>1-day % chg</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>43,198.51</td>
<td>-0.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,886.96</td>
<td>-0.5%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,311.30</td>
<td>-0.6%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,544.18</td>
<td>-0.7%</td>
</tr>
<tr>
<td>CBOE VIX</td>
<td>17.94</td>
<td>9.7%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:30 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent111924&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.5% to $587.21.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;fell 0.2% to $432.04.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.6% to $500.28.</li>
<li>The&nbsp;iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.5% to $229.57.</li>
<li>The&nbsp;Health Care Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) outperformed, falling 1%. The&nbsp;Consumer Staples Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) lagged, down 1%.</li>
</ul>
<h1 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h1>
<ul>
<li>Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) fell 22% in reaction to a negative earnings report. </li>
<li>Other stocks reacting to earnings included Keysight Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEYS#NYSE">KEYS</a>), up 5.7%; XP Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XP#NASDAQ">XP</a>), down 6%; Dolby Laboratories (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DLB#NYSE">DLB</a>), up 14%; TJX Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>), down 0.3% and Williams-Sonoma Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>), up 30%.</li>
<li>Apart Nvidia, other large-cap tech companies releasing earnings results after the call are Palo Alto Networks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) and Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>). </li>
</ul>
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</ul>
Photo: Shutterstock

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