Costco Stock Continue Surging Ahead of Earnings Report

The stock markets have been surging in the last several months, but Costco stock has outpaced major indices, increasing twice as much on average. Costco earnings reports are due to be released soon, but that’s not deterring buyers, which have pushed the Costco stock price to $785.

Costco Daily Chart – MAs Can’t Catch Up With the Pirce Surge

Traders are eagerly awaiting Costco’s fiscal second-quarter announcement today, with the company’s stock (COST) trending upwards. Positive quarterly results from industry peers earlier in the week have contributed to a favorable atmosphere surrounding Costco’s upcoming report. With COST shares up 18% year-to-date, investors are optimistic about Costco’s ability to sustain its momentum.

Analysts are forecasting a 9% increase in earnings to $3.60 for Q2, accompanied by an anticipated rise in sales to $59.2 billion. For the second fiscal quarter, spanning the three months through mid-February, analysts expect earnings of $3.63 per share on revenue of $59.1 billion. Furthermore, same-store sales are projected to experience a 5% year-over-year growth, reflecting robust holiday performance.

Given these expectations and Costco’s positive momentum, we consider Costco as a potential investment opportunity. However, as with any investment decision, it’s essential to conduct thorough research and consider various factors, including market conditions, which have been very bullish recently. We would love to see a retrace down so we can buy Costco shares cheaper. Also the company performance is important, so we are waiting to see the earnings reports which will be released soon.