Home Depot Shares Rise as Company Sets Financial Guidance Amid Legal Scrutiny
Home Depot shares rose more than 3% after the company set its financial guidance for FY 2026, providing investors with insight into its future prospects. The move also comes as Home Depot faces new legal scrutiny in Virginia over allegations of selling customer data through its Orange Apron Media network.
The company recently updated its financial outlook and paid a quarterly dividend, which may have contributed to the increase in stock price. However, institutional investor Sapient Capital LLC reduced its position in Home Depot by 11.5% during the first quarter, indicating some uncertainty among investors.
Technically, the stock is trading above its key moving averages, signaling strong uptrend momentum and intraday buying alignment. The current price action is bounded by a near-term ceiling at $350.8 and a near-term floor at $348.88, with longer-term moving average alignment still bearish overall.