Earnings Preview · 05 November 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 $3.05 a share on revenue near $19.0B. Over the next twelve months analysts pencil in $10.75 of earnings per share against $7.55 over the last twelve, growth of about 42%. The median analyst target is $150 (range $126 to $189), 8% above the $138.79 share price, across 27 analysts.
How it has traded on past prints
Across the last 25 reports, the shares moved an average of +1.8% in the five sessions after the print and +5.5% over twenty. After a beat the average follow-through was +3.8%; after a miss, +12.3%. Misses have not been punished more than beats were rewarded, so the headline number alone has been a poor guide to the reaction here; guidance and the call matter more. There is no reliable drift pattern: the first move has often faded, so chasing the gap has not paid.
What options are pricing
Implied volatility near 56% prices a one-week move of roughly ±7.8% (about $127.97 to $149.61). Positioning: the heaviest put open interest sits at $140 and the heaviest call open interest at $152; those strikes tend to act as magnets or walls in the days after.
Levels that matter
At $138.79 the shares sit 9% below the 52-week high of $152.77 and 62% above the low of $85.57 (79% of the way up the range). The 50-day average is $134.07, below the price. The 200-day average is $119.53, below the price.
Valuation going in
The shares trade about 15% above our fair-value estimate: priced for things to go right. Our fair-value estimate is $120.42 against the current share price of $138.79. The shares trade at 19.9 times trailing earnings and 14.0 times forward earnings. Revenue is growing about 36% with net margins near 14%.
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 reads as accumulation (21-day Chaikin Money Flow +0.17, five-day price change -2.4%, as of 2026-11-03, desk flow model).
This is analysis, not financial advice. Always manage your risk.
