Costco Wholesale Corporation ($COST) Stock Forecast (2024)

What is Costco Wholesale Corporation?

Costco (NASDAQ: COST) is a retail giant with membership-based warehouse stores known for offering a wide range of products at competitive prices. The stock experienced a significant bearish movement in the market today.

Why is Costco Wholesale Corporation going down?

COST stock is down 1.0% on May 31, 2024 19:50

• Third-quarter revenue and earnings per share exceeded expectations; however, Costco shares declined, reflecting negative market sentiment.
• Analysts have raised the stock target and maintain an outperform rating, expressing optimism about the company's performance.
• Despite assurances that the $1.50 hot dog price will not change, this may not have been sufficient to address other market concerns.
• The market's reaction suggests that investors may be considering factors beyond the strong Q3 performance, possibly indicating broader economic worries impacting the stock.

COST Price Chart

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Costco Wholesale Corporation Price History

08.02.2024 - COST Stock was up 7.3%

• Costco stock experienced a strong bearish movement today, marking its worst day in nearly two years.
• The quarterly revenue miss reported by Costco led to a 6% drop in its stock price after delivering fourth-quarter results.
• Investors might have engaged in a "sell the news" strategy, as shares had rallied 6% in the week leading up to the report.
• The news about Costco selling bags of silver coins for $625, while intriguing, did not have a significant impact on the stock price movement.

08.02.2024 - COST Stock was up 6.8%

• There was a "sell the news" reaction to Costco's fourth quarter results, as the stock had previously rallied 6%.
• The introduction of silver coins for sale at Costco sparked interest among shoppers but did not impact the stock price positively.
• Despite a strong Q2 performance and a raised stock target to $800, Costco's stock faced a notable decline, possibly due to profit-taking following the recent rally.
• The market's negative reaction to the CFO's comments during the earnings call, especially regarding potential membership price increases and crackdowns on sharing memberships, may have contributed to the stock's decline.

08.02.2024 - COST Stock was up 5.9%

• Costco's stock saw bearish movement following a holiday earnings miss despite online sales growth, suggesting investor concerns.
• The decision not to raise annual membership fees immediately but to hint at potential future increases may have dampened consumer sentiment and loyalty, contributing to the bearish trend.
• Despite a target price upgrade to $680 based on margin trends, the stock reacted negatively to revenue estimates miss, intensifying the bearish movement.
• Overall, disappointing earnings, possible fee hikes, and the revenue miss likely caused the bearish sentiment surrounding Costco's stock.

08.02.2024 - COST Stock was up 5.5%

• Revenue estimates were missed by Costco, causing a bearish movement in its stock price.
• Despite reporting solid growth in Q2 and plans for expansion, the market reacted negatively to the revenue miss.
• The contrast between Costco's performance and other companies like Gap and DocuSign rising premarket indicates specific concerns or disappointments related to Costco's financials.
• Investors may be cautious about Costco's future growth potential and competitive positioning in the retail industry, contributing to the bearish trend.

06.09.2023 - COST Stock was up 3.2%

• The bearish movement in COST today could be attributed to several factors:
• 1. an article from Seeking Alpha suggests that Costco may not provide meaningful returns going forward due to headwinds of inflation and shaky e-commerce growth. This negative outlook could have influenced investors to sell their shares, leading to the bearish movement.
• 2. an article from Business Insider mentions a self-checkout reckoning faced by retailers, including Costco. If investors perceive this as a potential threat to Costco's business model and profitability, it could have contributed to the bearish movement.
• 3. While an article from Benzinga highlights better-than-anticipated September sales growth and an analyst raising the price target for Costco, it may not have been enough to outweigh the concerns raised in the other articles. Investors might have focused more on the potential challenges mentioned in the bearish articles, leading to the downward movement in the stock.
• 4. Although not directly related to Costco, an article from Investor Place discusses consumer backlash and the potential impact on streaming stocks due to high inflation and rising interest rates. This broader market sentiment could have influenced investors to be cautious and sell their positions in Costco as well.
• Overall, the bearish movement in COST today could be a result of concerns about inflation, e-commerce growth, potential threats to the business model, and broader market sentiment.