Prediction: Home Depot Will Hit $400 on This Date

Prediction: Home Depot Will Hit $400 on This Date Vandita Jadeja Wed, June 24, 2026 at 6:41 PM GMT+2 4 min read HD Quick Read HD trades at $324, down 4% year to date, while our model targets $383 with a bull case reaching $430. Reaching $400 by 2027 requires mortgage rates to ease, comps near +2%, and SRS's 1,280 locations to keep driving revenue. At 20x forward earnings, HD trades below its trailing multiple of 23x and closer to its 52-week low than its high.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Home Depot didn't make the cut. Grab the names FREE today . Home Depot ( NYSE:HD ) is the largest home improvement retailer in America, and right now it is caught between two stories.

The fundamentals are steady while the stock has drifted lower. Lokibaho / Getty Images Shares trade at $324. 45 after slipping 4.

3% year to date, while management just reaffirmed full-year guidance and pushed comparable sales back into positive territory. The question I want to answer is straightforward. Can HD reach $400 per share by 2027, and what has to happen for it to get there?

HD Price Target — 24/7 Wall St. Why Home Depot Shares Are Stuck Despite Stable Demand The market is punishing patience. HD is down 6.

63% over the past year and off 3. 75% in the last week alone, even though Q1 FY2026 revenue grew 4. 8% to $41.

77B with comparable sales of +0. 6%. The drag is housing.

Customer transactions fell 1. 3% year over year, and CEO Ted Decker acknowledged "greater consumer uncertainty and housing affordability pressure" on the Q1 call. Add in SRS Distribution intangible amortization of roughly $119M per quarter compressing reported margins, and you have a stock that looks tired.

With a beta of just 0. 974, HD is not going to rip higher on sentiment alone. It needs a catalyst.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Home Depot didn't make the cut. Grab the names FREE today . Wall Street Sees 14% Upside.

Our Model Says 18% Consensus is constructive but cautious. The Street's average target sits at $370. 18, with 4 Strong Buy, 18 Buy, 14 Hold, and zero Sell ratings.

Our base case model puts fair value at $382. 85, an 18% upside, with confidence at 90% and a bull scenario reaching $429. 92.

I think analysts are anchoring too tightly to the next four quarters. With 61% bullish sentiment and earnings growth contribution running slightly negative at -0. 004, the consensus is pricing in a status-quo housing market.

Any normalization of mortgage rates flips that math fast. HD Analyst Ratings — 24/7 Wall St. The Path to $400 Per Share Here is the math.

Reaching $400 from today's price of $324. 45 would require a gain of 23. 3%.

With forward EPS of $16. 31, a price of $400 implies a forward P/E of 25x. Our base case of $382.

85 already implies 22x, meaning the bold target requires roughly 2. 3 turns of additional multiple expansion. That is achievable.

Story Continues The 247Factor adjustment of 1. 066 is driven by a 1. 05 Consumer Cyclical sector multiplier and 0.

037 analyst consensus contribution, dampened 50% for mega-cap size. Average ticket rose 2. 2% to $92.

76, SRS now operates over 1,280 locations, and Decker noted underlying demand was "relatively stable". The risk is a deeper housing recession that pushes comps negative. Where Home Depot Trades Today vs Its Earnings Power At $324.

45 against forward EPS of $16. 31, HD trades at a forward P/E of 20x. That is below its trailing multiple of 23 and a steep discount to its $418.

06 52-week high. The stock sits closer to its $286. 95 52-week low than its highs.

Over the past decade, HD has delivered a 227. 13% return, a reminder that buying quality compounders during housing slowdowns has historically paid. Today's multiple looks cheap if FY2027 EPS reaccelerates.

HD Price Scenario — 24/7 Wall St. Is $400 Realistic? Here's My Take $400 by 2027 requires a gain of 23.

3% from here, modest multiple expansion to 24. 5x, and a housing market that stops actively hurting. I think it is realistic.

Three things need to happen: comps need to push toward the high end of the flat to +2. 0% guidance, SRS and GMS need to keep adding incremental revenue, and mortgage rates need to drift lower to thaw transaction volume. A renewed housing recession derails it.

Returns at this level shouldn't be expected every year, but we've outlined the blueprint for how Home Depot could reach $400 in 2027. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Home Depot didn't make the cut. Grab the names FREE today .