Walmart Analysts Boost Their Forecasts After Upbeat Q3 Earnings

Author: Avi Kapoor | November 21, 2025 01:40pm

Walmart Inc. (NYSE:WMT) posted better-than-expected third-quarter earnings on Thursday.

The company reported third-quarter adjusted earnings per share of 62 cents, beating the Street view of 60 cents. Quarterly sales of $179.50 billion (+5.8% year over year) outpaced the analyst consensus estimate of $177.429 billion.

Walmart raised its 2026 adjusted EPS outlook to $2.58–$2.63, up from its earlier range of $2.52–$2.62. The updated midpoint comes in above the $2.61 analyst consensus. Walmart lifted its fiscal 2026 constant-currency revenue growth outlook to 4.8%–5.1%, up from its prior range of 3.75%–4.75%.

Walmart said it will move its stock listing from the New York Stock Exchange to the Nasdaq Global Select Market on Dec. 9, 2025, while keeping the ticker "WMT."

The company said the switch reflects its alignment with Nasdaq's technology-driven, innovation-focused platform. Walmart will also transfer the listing of nine outstanding bonds to Nasdaq as part of the move.

Walmart shares fell 1.8% to $105.25 on Friday.

These analysts made changes to their price targets on Walmart following earnings announcement.

• BTIG analyst Robert Drbul maintained Walmart with a Buy and raised the price target from $120 to $125.
• BMO Capital analyst Kelly Bania maintained the stock with an Outperform rating and raised the price target from $110 to $125.
• Telsey Advisory Group analyst Joseph Feldman maintained Walmart with an Outperform rating and raised the price target from $118 to $130.
• Keybanc analyst Bradley B. Thomas maintained the stock with an Overweight rating and raised the price target from $110 to $120.
• Morgan Stanley analyst Simeon Gutman maintained Walmart with an Overweight rating and raised the price target from $115 to $125.
• Baird analyst Peter Benedict maintained the stock with an Outperform rating and raised the price target from $110 to $121.
• Guggenheim analyst John Heinbockel maintained Walmart with a Buy and raised the price target from $115 to $120.
• Evercore ISI Group analyst Greg Melich maintained the stock with an Outperform rating and boosted the price target from $111 to $115.
• Wells Fargo analyst Edward Kelly maintained the stock with an Overweight rating and raised the price target from $110 to $120.
• Piper Sandler analyst Peter Keith reiterated Walmart with an Overweight rating and raised the price target from $111 to $123.
• Bernstein analyst Zhihan Ma maintained the stock with an Outperform rating and raised the price target from $118 to $122.
• DA Davidson analyst Michael Baker maintained Walmart with a Buy and raised the price target from $117 to $130.

Considering buying WMT stock? Here’s what analysts think:

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