HP (HPQ) Q2 2026 earnings — TrendMatrix coverage
Reported
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Full disclosure
Key numbers
- Reported EPS
- $0.83
- Estimate
- $0.69
- Surprise
- +20.0%
- Revenue (period 2026-07-31)
- $15.68B
- Score at report (before → after)
- 5.1 → 5.4/10
Revenue source: xbrl.
How the report landed
HP (HPQ) beat the $0.69 estimate with diluted EPS of $0.83 — a large 20.0% upside surprise. TrendMatrix's engine moved from Buy (Wait) (5.1/10) to Hold at 5.4/10 after the report.
Coverage in the report window
- What's Going On With HP Stock on Friday? — benzinga, 2026-08-28
- Barclays Maintains Underweight on HP, Raises Price Target to $23 — benzinga, 2026-08-28
- China's CXMT Revenue Explodes 874% in H1 as AI Memory Boom Fuels DRAM Shortage — benzinga, 2026-08-28
Where TrendMatrix's rating stands now
TrendMatrix currently rates HPQ Sell at 5.1/10.
4 of the last 4 quarters beat the estimate; this quarter's +20.0% surprise compares with a +11.7% four-quarter average. Next scheduled report: 2026-11-24.
What supports the rating
- Strong earnings beat streak (4/4)
- Attractive valuation
What argues against it
- Concentration risk — Supplier: Canon laser engines
- Analyst target reached - limited upside remaining
- Near 52-week high (-0.3% away)
This section and the ones below it reflect TrendMatrix’s latest engine read — they update after the report date and are not frozen to it.
The levels TrendMatrix's engine tracks
- Current price
- $32.45
- Price target
- $37.54
- Stop
- $30.36
- Upside to target
- +15.7%
The stock trades at 12.2× trailing but 10.2× forward earnings — consensus estimates already build in a substantial earnings recovery.
Model outputs from TrendMatrix’s engine as of 2026-09-04 — shown for context, not personalized investment advice.
HPQ at TrendMatrix's latest read
Technology names get repriced on forward expectations more than trailing prints — a quarter here is read through next-year growth and multiple, not the EPS line alone.
- Industry
- Computer Hardware
- Market cap
- $28.79B
- P/E (fwd)
- 10.2
- P/E (ttm)
- 12.2
- 52-week range
- $17.56–$32.55
- Off 52-week high
- 0.3%
- RSI (14)
- 67
- Volume vs avg
- 0.88×
- Score today
- 5.1/10