Earnings Preview · 29 October 2026
Where our screen stands going in
Screens compliant (both standards agree). A name values-conscious investors can weigh on the merits.
What the Street expects
Consensus looks for earnings of about $1.99 a share on revenue near $202.2B. Over the next twelve months analysts pencil in $10.45 of earnings per share against $12.43 over the last twelve, a decline of about 16%. The median analyst target is $330 (range $230 to $405), 32% above the $249.55 share price, across 58 analysts.
How it has traded on past prints
Across the last 25 reports, the shares moved an average of +0.9% in the five sessions after the print and +0.3% over twenty. After a beat the average follow-through was +1.6%; after a miss, -6.3%.
What options are pricing
Implied volatility near 22% prices a one-week move of roughly ±3.0% (about $241.95 to $257.15). Positioning: the heaviest put open interest sits at $245 and the heaviest call open interest at $260; those strikes tend to act as magnets or walls in the days after.
Levels that matter
Valuation going in
The shares trade about 10% below our fair-value estimate: a modest cushion. Our fair-value estimate is $278.28 against the current share price of $249.55. The shares trade at 20.4 times trailing earnings and 24.3 times forward earnings. Revenue is growing about 20% with net margins near 17%.
Our stance
The name clears our screen; the print tells us whether the valuation is earning its keep.
What the flow says going in
Underlying money flow is neutral (21-day Chaikin Money Flow +0.01, five-day price change -3.0%, as of 2026-10-28, desk flow model): no strong accumulation or distribution signature.
This is analysis, not financial advice. Always manage your risk.
