moneyheap
HD · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Home Depot, Inc. (HD) stock moving?
HD closed at $351.00 on Nov 10, down 0.7% from $353.42 on Nov 9 and up about 10.5% from its $317.56 close on Oct 28. The stock has held in the $343-$356 range since Nov 4, after an 8.1M-share volume spike that day when it traded as high as $356.02 before closing at $355.44. No news item explains that spike. Volume has eased to 3.7M shares on Nov 10, below the recent 5-8M days. Analyst action in the last two days is supportive: JPMorgan kept an Overweight rating and raised its target to $400, about 14% above the current price, and Bernstein kept a Market Perform rating and raised its target to $357, about 2% above it. The main near-term event is the Q3 2026 earnings call on Nov 17, which the news set does not give results for. Other items, including the AI shopping agent policy, Wahlburgers and MILESEEY partnerships, and the Kreate and HD Canada product news, are minor for the stock's valuation.
On the moneyheap blog
- Can Time Series Foundation Models Predict Stock Prices?Can AI predict stock prices? We ran Google's TimesFM 3.0, Amazon's Chronos-2 and Datadog's Toto 2.0 on 24 stocks for two years. Here's what they got right.
News behind the analysis
- Bernstein Maintains Market Perform on Home Depot, Raises Price Target to $357Bernstein kept its Market Perform rating and raised its price target to $357 from $344, close to the current share price.
- Bernstein Adjusts Price Target on Home Depot to $357 From $344Bernstein raised its price target for Home Depot from $344 to $357.
- JP Morgan Maintains Overweight on Home Depot, Raises Price Target to $400JPMorgan kept its Overweight rating and raised its price target to $400 from $396.
- JPMorgan Adjusts Price Target on Home Depot to $400 From $396JPMorgan raised its price target for Home Depot to $400 from $396.
- MILESEEY Tools Expands U.S. Retail Presence at The Home DepotMILESEEY's professional green-laser measurement tools will be sold at select Home Depot stores in the U.S. starting in early December.
- The Home Depot Announces Third Quarter 2026 Earnings Conference CallHome Depot will hold its third-quarter 2026 earnings conference call on November 17, 2026.
- Wahlburgers Announces Expansion of Restaurant Outlets Within Home Depot StoresWahlburgers is adding restaurant locations inside Home Depot stores in Florida and entering the Nevada market.
- Home Depot Establishes Policy for AI Shopping AgentsHome Depot requires AI shopping agents to identify themselves and the customers they represent when interacting with its platforms.
- Kreate Launches New Waste and Recycling Collection for Home Depot's HDX and Husky BrandsKreate introduced waste and recycling products for Home Depot's exclusive HDX and Husky private brands.
About Home Depot, Inc.
The Home Depot is the world's largest home improvement retailer. It has about 2,360 stores across the US, Canada and Mexico, plus a fast-growing online business. It stands out for its focus on professional contractors ("Pros"), which it has expanded through acquisitions such as SRS Distribution and GMS, alongside its traditional do-it-yourself shoppers.
How it makes money
Nearly all of its revenue comes from selling home improvement goods through its stores, website and specialty distribution businesses. These include building materials, lumber, tools, plumbing, electrical, paint, appliances, flooring and garden products. Customers are split roughly evenly between Pros and do-it-yourselfers. Smaller amounts come from installation services, tool and equipment rental, and credit card programs. Annual sales are roughly $170–180 billion; second-quarter fiscal 2026 sales were about $47.9 billion, up about 6%.
What usually moves HD
- Housing turnover and mortgage rates
- Comparable-store sales and Pro demand
- Home prices and remodeling spending
- Big-ticket discretionary purchases
- Integration of acquisitions (SRS, GMS)