NEW YORK, March 2, 2026, 14:21 EST
- Evercore ISI bumped up its Costco price target to $1,100, just before the March 5 results.
- Costco shares lingered just below $1,000 after a Forbes column flagged the stock’s valuation as stretched.
- Comparable sales, membership renewal rates, and profit margins are drawing investor focus as retail earnings come in.
Evercore ISI bumped its price target for Costco Wholesale up to $1,100 from $1,050, sticking with an Outperform call just before the retailer’s results expected later this week. The stock slipped roughly 0.6% to $1,004.42 during afternoon trading. Analysts at Evercore are looking for global comparable sales growth above 6%, plus earnings per share of $4.55. They also pointed out that with the current valuation, there isn’t much margin for error.
Costco will release its second-quarter earnings and February sales numbers following Thursday’s closing bell, according to the company’s website. An investor event is slated for 1:15 p.m. PT.
The calendar’s key, with investors poring over retail numbers this week to see if Americans are actually spending more or just moving their dollars around. Zacks Equity Research is calling overall spending “largely stable” so far. Inflation’s still biting, though, and shoppers are holding back on pricey items—a setup that’s given an edge to value names like Costco and Walmart. Finviz
Costco crossing into four-figure territory is drawing fresh scrutiny over its valuation. The Great Speculations column at Forbes flagged its model, suggesting it could be time to “divest” as the stock hovers around $1,000. The shares, it noted, are sitting at nearly 55 times earnings. Forbes
Costco’s latest monthly numbers gave the bulls something to chew on. Net sales for the four weeks ended Feb. 1 came in at $21.33 billion, up 9.3%. Comparable sales rose 7.1%, while digitally enabled sales soared 34.4%. For the first 22 weeks, total sales increased 8.5% to $123.16 billion. Comparable sales reflect performance at locations that remain open, excluding any impact from new openings or closures.
Costco is stepping up its convenience play outside the U.S., tapping delivery as a way to serve members who’d rather skip the warehouse trip. Instacart revealed that it’s teaming up with Costco to roll out same-day delivery websites in France and Spain. The pitch: “same-as-in-store pricing” and a flat service fee for each order. Instacart CEO Chris Rogers described the launch as unlocking “a new level of access and convenience.” On Costco’s side, international EVP Pierre Riel framed it as “another step in making Costco easier to access.” PR Newswire
Futu picked up a Zhitong Finance earnings preview, noting the market expects second-quarter revenue around $69 billion and EPS at $4.50. Membership renewals will likely draw investor attention—essentially, how many customers re-up each year—alongside the pace of online sales and any squeeze on gross margins. The report also flagged BJ’s as a smaller U.S.-only rival, with Costco looking more overseas for growth.
The set-up has its risks. Costco almost never offers granular forward guidance, so any wobble—be it in renewal rates, traffic, or margins—can sting, especially with the stock priced for perfection. Rising wages and extra tech costs don’t help when you’re running on slim mark-ups.
That’s the crux for March 5—not simply Costco’s growth, but whether it’s strong enough to support the current multiple.
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