Analysts are Downgrading These 5 Tech Stocks

4. HP Inc. (NYSE:HPQ)

Number of Hedge Fund Holders: 35

Shares of HP Inc. (NYSE:HPQ) slid nearly two percent on Thursday, September 1, 2022, after Loop Capital reduced its ratings for the famous PC maker from “Buy” to “Hold,” citing signs of slowing commercial sales.

Loop Capital Analyst Ananda Baruah also referred to the acquisition of Poly, saying the integration would increase HP’s costs and debt. Baruah also cut his price target for HP Inc. (NYSE:HPQ) from $50 per share to $29 per share.

The downgrade came a couple of days after HP Inc. (NYSE:HPQ) delivered mixed results for its fiscal third quarter and lowered its earnings outlook for its fiscal year 2022.