Home Depot Inc (NYSE:HD) shares remained volatile after the company on Tuesday reported its first-quarter results.

The announcement came amid an exciting earnings season. Here are some key analyst takeaways.

Stifel On Home Depot

Analyst Andrew Carter upgraded the rating from Hold to Buy, while raising the price target from $405 to $425.

Home Depot reported "a modest headline miss," with comparable sales down 0.3% and adjusted earnings of $3.56 per share coming short of consensus of $3.59 per share, Carter said in the upgrade note. "Results included a 70 bps FX headwind, Canada below company average, and a 30 bps commodity tailwind," he wrote.

The company's comparable sales accelerated through the quarter and its April U.S. comparable sales were up nearly 2.5%, excluding Easter, the analyst stated.

There is upside to Home Depot's reiterated full-year guidance and its performance in the year "will drive enthusiasm for HD's ability to disproportionately capitalize on a likely above trend-line home improvement category recovery," he added.

Check out other analyst stock ratings.

Guggenheim Securities On Home Depot

Analyst Steven Forbes reaffirmed a Buy rating and price target of $450.

Home Depot's first-quarter results were broadly in line with expectations, Forbes said. Importantly, the performance was driven by "a meaningful acceleration in comp trends," through the first quarter, from 1.3% in March to 1.8% in April, he added.

Big ticket comp transactions, or transactions of more than $1,000, rose for the second consecutive quarter, "despite continued pressure on larger discretionary projects," the analyst stated. This implies that the risk of 2025 being "another negative comp year have been reduced," he further wrote.

RBC Capital Markets On Home Depot

Analyst Steven Shemesh maintained a Sector Perform rating and price target of $399.

Total company comp sales were down 3.6% in February, up 0.6% in March and up 1.1% in April, Shemesh said. U.S. comp sales declined by 3.3% in February and grew by 1.3% in March and by 1.8% in April, he added.

"Importantly, mgmt shared that HD U.S. comp would have been closer to +2.5% in Apr (~70 bps higher) adjusting for the Easter timing shift," the analyst wrote. While Mexico and Canada currently account for "the vast majority" of Home Depot's internationally sourced products, the company plans to shift to no single country outside the U.S. representing more than 10% of purchases, over the next 12 months, he further wrote.

HD Price Action: Shares of Home Depot had declined by 0.96% to $373.43 at the time of publication on Wednesday.

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