Barclays (LON:BARC) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Barclays PLC (LON:BARC) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 456.44 and traded as high as GBX 524.50. Barclays shares last traded at GBX 524.50, with a volume of 37,646,980 shares trading hands.

Key Stories Impacting Barclays

Here are the key news stories impacting Barclays this week:

• Positive Sentiment: Barclays initiated coverage on SK Hynix ADRs with a $330 price target, adding to a bullish call that sees major upside in AI memory stocks amid tight DRAM supply. Article Title
• Positive Sentiment: Barclays’ broader research view on SK Hynix and Micron has been widely cited as a bullish sign for the AI memory trade, reinforcing the bank’s influence in a fast-moving theme. Article Title
• Positive Sentiment: Separate coverage upgrades and reaffirmed Buy/Overweight views on names such as Mastercard, ICE, Rivian and Tesla suggest Barclays is still actively shaping market sentiment across major sectors, which can support investor perception of the firm’s research franchise. Article Title

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BARC. Citigroup upped their price objective on shares of Barclays from GBX 425 to GBX 450 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. Jefferies Financial Group lifted their price objective on Barclays from GBX 570 to GBX 590 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada raised Barclays to an “outperform” rating and increased their target price for the stock from GBX 550 to GBX 575 in a research note on Wednesday, April 29th. Shore Capital Group reaffirmed a “buy” rating on shares of Barclays in a research report on Tuesday, April 28th. Finally, Berenberg Bank reissued a “buy” rating and set a GBX 620 price target on shares of Barclays in a research report on Wednesday, June 24th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of GBX 545.

Barclays Trading Up 0.9%

The company has a fifty day simple moving average of GBX 474.90 and a two-hundred day simple moving average of GBX 456.44. The company has a market cap of £70.74 billion, a PE ratio of 12.09, a P/E/G ratio of 1.15 and a beta of 0.88.

Barclays (LON:BARC) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported GBX 14.10 earnings per share (EPS) for the quarter. The company had revenue of GBX 816.30 billion for the quarter. Barclays had a return on equity of 9.46% and a net margin of 17.81%. On average, research analysts anticipate that Barclays PLC will post 39.1062802 EPS for the current fiscal year.

Barclays Company Profile

Barclays PLC provides various financial services in the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia. The company operates through Barclays UK and Barclays International division segments. It offers financial services, such as retail banking, credit cards, wholesale banking, investment banking, wealth management, and investment management services. In addition, the company engages in securities dealing activities. The company was formerly known as Barclays Bank Limited and changed its name to Barclays PLC in January 1985.