Home Depot (HD), a home improvement retailer, is set to announce its Q2 earnings results before the opening bell on Tuesday, August 19. Its stock has jumped 13% over the past year, fueled by a rebound in same-store sales, strategic moves like opening new stores in 2025, and contribution from the SRS acquisition. The company’s focus on builders and repair crews, along with ongoing investments in supply chain efficiency, has also supported performance. As a result, analysts remain highly bullish on HD stock ahead of Q2 earnings.
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What to Watch on August 19
Wall Street analysts expect Home Depot to report earnings per share of $4.73 for Q2, up 1.2% from the same quarter last year. Meanwhile, analysts project Q2 revenues to increase by 6% to $45.5 billion, according to the TipRanks Analyst Forecasts Page.
Analysts’ Take Ahead of Q2
Ahead of the Q2 print, JPMorgan’s analyst Christopher Horvers raised his price target on Home Depot from $418 to $460 and maintained a Buy rating.
Horvers maintained his above-consensus Q2 comp sales growth of 2.2% in the U.S. and raised his EPS forecast to $4.76 on better cost control. He sees momentum in the second half supported by replacement cycles and easier comparisons. Horvers believes HD is well-positioned to pass on tariff-related costs, benefiting from its high Pro customer mix and project-driven demand.
Similarly, Wells Fargo analyst Zachary Fadem also maintained a Buy rating on the stock with a price target of $420 per share. He points to stronger store traffic and growing momentum in Pro-focused programs, with early gains from the SRS Distribution acquisition helping Home Depot expand its presence in important contractor markets.
Is Home Depot Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on HD stock based on 20 Buys, seven Holds, and one Sell assigned in the past three months, as indicated by the graphic below. The average HD price target of $429.71 per share implies 12.85% upside potential.
