Retail store chain Target Corporation (New York Stock Exchange: TGT) plans to report second quarter results on August 17, 2022.
Target website traffic data is disappointing
Using data from SEMrush Holdings (SEMR), the world’s largest website usage monitoring service, TipRanks’ website traffic tool provides insight into your target’s performance this quarter.
However, the target website saw a 4.65% monthly decrease in global visits in July compared to June. Additionally, target website traffic decreased by 3.57% compared to the previous year.

As a result, the company’s website traffic decline suggests a weaker set of numbers for the second quarter.
Large-scale retailers like Target have been hit hard as consumer sentiment sours due to rising inflation and an impending recession. Consumers are curtailing purchases, and as a result, retail giants like Target’s website traffic is also down.
In fact, Target’s fellow retail giant Walmart (WMT) has sharply lowered its profit outlook in an effort to cut prices and clear shelves of clothing and other unsold items.
See how website traffic can help you research your favorite stocks.
What do analysts say about Target’s second quarter results?
Combined with the slowdown in website traffic, analysts also hinted at Target’s weak second quarter.
Analysts expect Target to report earnings per share (EPS) of $0.79 in the second quarter. This represents a significant decrease he of 78.3% from the same period last year. As for earnings for the quarter, analysts expect the same amount to come in at about $26.06 billion, representing modest growth of 3.9% from the previous year.
Can I buy Target now?
Overall, the consensus among analysts for the target stock is a moderate buy based on 19 buys and 9 holds. The TGT average price target of $184.82 implies a potential upside of 6.6% from current levels. The stock has fallen 33.1% over the past year.
final thoughts
Target’s decline in website traffic suggests the retail giant’s second quarter results aren’t all that enthusiastic. In particular, only a shift in consumer sentiment, characterized by lower inflation and positive consumer credit numbers, can restore growth for the company.
However, the company’s recent measures to tackle inflation, including reducing inventory levels, adding storage capacity near U.S. ports and optimizing its supply chain, could support margins.
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