Costco (NASDAQ:COST) stock is on the move Friday as analysts weigh in on the company following the release of the retailer’s fiscal Q2 2022 earnings report.
The Costco earnings report saw the company reporting diluted earnings per share of $2.92 alongside revenue of $51.9 billion. Both of these are up compared to the same period of the year prior. They also both beat out Wall Street’s estimates of $2.74 per share on revenue of $51.51 billion.
Even though Costco beat out estimates for its fiscal second quarter of the year, it didn’t impress investors as shares are sliding today. Let’s see if analysts are taking a similar stance on the company.
Is COST Stock a Buy After Earnings
- BMO Capital starts us off as the firm maintains its “outperform” rating for COST stock and ups its price target to $580 per share. That represents a potential 8.8% increase over its closing price on Thursday.
- Telsey Advisory Group is next with a continued “outperform” rating and increased $615 per share price prediction for the stock. This has it expecting a possible 15.4% upside from yesterday’s closing price.
- Truist Securities is our last analyst insight for COST stock with it initiating coverage with a “buy” rating and a price target of $606 per share. That’s a potential 13.7% jump compared to the stock’s closing price on Thursday.
When it comes to stock movement, COST hasn’t quite traded 1 million shares as of Friday morning. That’s below its daily average trading volume of 2.6 million shares.
COST stock is down 3.6% as of Friday morning.
Investors searching for more stock market news are in the right place!
InvestorPlace has all the latest stock market news that traders need to know about for Friday. Among that is what’s hitting Nio (NYSE:NIO) stock, what analysts are saying about Grab (NASDAQ:GRAB) stock, as well as this morning’s biggest pre-market stock movers. You can find all of that info at the links below!
More Stock Market News for Friday
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- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.