Earnings Preview · 10 November 2026
Where our screen stands going in
Fails the principled screen, Business activity screen. A strong business is not the same as a suitable one; for a values-conscious book this is a do-not-chase regardless of the print.
What the Street expects
Consensus looks for earnings of about $12.21 a share on revenue near $2.9B. Over the next twelve months analysts pencil in $48.63 of earnings per share against $32.97 over the last twelve, growth of about 47%. The median analyst target is $1405 (range $1100 to $1745), 17% above the $1198.00 share price, across 20 analysts.
How it has traded on past prints
Across the last 25 reports, the shares moved an average of +0.2% in the five sessions after the print and +0.5% over twenty. After a beat the average follow-through was +1.0%; after a miss, -3.6%. The post-earnings drift has been consistent: the first move has tended to keep going.
Levels that matter
At $1198.00 the shares sit 18% below the 52-week high of $1463.03 and 12% above the low of $1071.25 (32% of the way up the range). The 50-day average is $1130.05, below the price. The 200-day average is $1231.68, above the price.
Valuation going in
The shares trade close to our fair-value estimate (-1% margin of safety): fairly priced, little cushion for a miss. Our fair-value estimate is $1188.79 against the current share price of $1198.00. The shares trade at 35.7 times trailing earnings and 24.2 times forward earnings. Revenue is growing about 22% with net margins near 21%.
Our stance
We are not participants, the name fails our principled screen, so we watch it as a sentiment gauge, not a holding.
What the flow says going in
Underlying money flow reads as accumulation (21-day Chaikin Money Flow +0.21, five-day price change +4.4%, as of 2026-11-06, desk flow model).
This is analysis, not financial advice. Always manage your risk.
