On May 26, 2023, Oppenheimer’s Rupesh Parikh, a Wall Street Analyst specializing in the Services sector, reiterated an Outperform rating on Costco Wholesale (NASDAQ:COST) and maintained a $550 price target. With a success rate of 64.00%, Parikh covers 49 stocks and is recognized as an expert in his field. The analyst reported that U.S. comparable sales had increased by 34.% in May on a three-year stacked trend basis, indicating that demand for Costco’s products remains strong. Despite facing margin headwinds in the near-term, Parikh and his team remain optimistic about Costco’s potential for success and consider it a top pick within the sector.
COST Stock Performance and Financials on May 26, 2023 in Retail Trade Sector
On May 26, 2023, COST stock opened at 485.25, slightly lower than the previous day’s closing price of 486.65. Throughout the day, the stock experienced a range of 484.39 to 496.81. The trading volume for the day was 108,030, which was significantly lower than the average volume of 1,843,414 for the past three months.
COST’s market capitalization was $220.2 billion on May 26, 2023. The company’s earnings growth for the past year was 16.57%, and for the current year, it was 9.65%. The earnings growth forecast for the next five years is 8.00%. The revenue growth for the previous year was 15.83%. The P/E ratio was 36.5, indicating that the stock was trading at a premium compared to its earnings. The price/sales ratio was 1.04, and the price/book ratio was 10.65.
COST operates in the retail trade sector and the specialty stores industry. The company’s corporate headquarters are located in Issaquah, Washington.
Overall, COST’s stock performance on May 26, 2023, was mixed, with the stock opening slightly lower than the previous day’s closing price and experiencing a range of prices throughout the day. The trading volume was significantly lower than the average volume for the past three months. The company’s financials showed positive earnings and revenue growth, but the stock was trading at a premium compared to its earnings.
Costco Wholesale Corps Stock Predicted to Rise by 9.70%: Is it a Good Investment?
On May 26, 2023, Costco Wholesale Corp’s stock (COST) was trading at a price of 496.81, which was the last recorded price before the analysis. However, the 29 analysts who offered 12-month price forecasts for the company had a median target of 545.00, with a high estimate of 610.00 and a low estimate of 465.00. This median estimate represented a +9.70% increase from the last price of 496.81. The current consensus among 36 polled investment analysts is to buy stock in Costco Wholesale Corp. The company’s earnings per share for the current quarter were $4.73, and its sales were $78.1 billion. Costco Wholesale Corp is a multinational corporation that operates a chain of membership-only warehouse clubs. The company has a loyal customer base that appreciates its low prices and high-quality products. Looking ahead, Costco is expected to continue performing well. Therefore, investors may consider buying stock in Costco Wholesale Corp.
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