Oppenheimer analyst Rupesh Parikh upgraded Costco (COST) to Buy today and set a price target of $335.00. The company’s shares closed last Monday at $304.68, close to its 52-week high of $307.34.
According to TipRanks.com, Parikh is a 5-star analyst with an average return of 15.8% and a 62.5% success rate. Parikh covers the Services sector, focusing on stocks such as Kroger Company, Sally Beauty, and Ulta Beauty.
Currently, the analyst consensus on Costco is a Moderate Buy with an average price target of $311.09.
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Based on Costco’s latest earnings release for the quarter ending November 30, the company reported a quarterly revenue of $37.04 billion and net profit of $844 million. In comparison, last year the company earned revenue of $35.07 billion and had a net profit of $767 million.
Based on the recent corporate insider activity of 78 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of COST in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
