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Analysts loved Costco's earnings report—Here's where they say the stock is headed next

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Wall Street's takeaways from Costco's fourth-quarter earnings.

Higher customer traffic underpinned a fourth-quarter earnings beat for Costco . Despite weaker sales of higher priced items throughout the quarter, Costco said on Tuesday that overall store visits rose 5.2% globally and were up 5% in the U.S. year-over-year. That helped offset a decline in the value of average transactions, which pulled back 4% worldwide and fell 4.5% in the U.S. from the year-ago period. For the fourth quarter ended Sept. 3, Costco said it earned $4.86 per share on $78.

mountain Costco's performance year to date. Analysts largely lauded the quarterly results and remain bullish on the stock, which was trading more than 2% higher on Wednesday. "We believe COST's 4Q provided further evidence that the stock fits well with what the market is looking for right now. Essentially, this is 'no drama,'" UBS analyst Michael Lasser said in a Tuesday note. Lasser also labeled Costco stock as "the gold standard.

 

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