Target Corporation (TGT) Q1 2026 Earnings Call Transcript
Target, Lowe's and TJX all outperformed Q1 estimates; NVIDIA reports after today's close.
Target's new CEO says the retailer's turnaround efforts are starting to pay off after a stronger-than-expected earnings report, though investors aren't cheering the results.
TGT tops Q1 estimates as traffic and digital sales jump, ad and membership revenues surge, and management lifts FY26 net sales growth outlook to 4%.
Target is keeping watch on consumer sentiment even as the retailer's sales improve. The company released first quarter earnings Wednesday (May 20) showing a 6.7% uptick in net sales, reversing several quarters of decline.
Target NYSE: TGT reported stronger-than-expected first-quarter results for fiscal 2026, with executives saying early merchandising and operational changes are beginning to resonate with shoppers, while cautioning that the company remains in the early stages of a broader turnaround effort.
Wells Fargo trimmed its price target on Amazon (NASDAQ:AMZN | AMZN Price Prediction) to $312 from $313 while maintaining an Overweight rating.
Wells Fargo analyst Ken Gawrelski lowered the firm's price target on Meta Platforms (NASDAQ:META | META Price Prediction) to $765 from $770, while keeping an Overweight rating on the shares.
Wells Fargo delivered one of the most aggressive price target revisions on a major AI semiconductor name this quarter.
Enphase Energy (NASDAQ:ENPH | ENPH Price Prediction) just picked up another sell-side endorsement.
The headline numbers for Target (TGT) give insight into how the company performed in the quarter ended April 2026, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Target Corp (NYSE:TGT) posted its strongest comparable sales growth in four years, beating analyst expectations on both earnings and revenue, though shares fell as the retailer cautioned that cost pressures would weigh more heavily in the near term. The Minneapolis-based discount retailer reported first-quarter earnings per share of $1.71, topping the analyst consensus estimate of $1.46, on revenue of $25.44 billion against expectations of $24.66 billion.