Where Will Costco Stock be In 2029?

Fiscal Q3 2026 revenue reached $70.53 billion, rising 11.6% year over year, while comparable sales increased 9.8%. E-commerce traffic grew 37%. The stock trades at $995.20, up 15.73% year to date, but recent performance is mixed with a negative one-year return. The trailing P/E is 52, leaving limited room for error, and the latest earnings beat was only 0.17%. Consumer sentiment is weak at 49.8, and the stock’s beta is 0.908. Wall Street targets about $1,076.97, while a base model estimates $1,069.24. A $1,300 price by 2029 would require a 30.6% gain and a forward P/E near 62x, implying substantial additional multiple expansion.

"Fiscal Q3 2026 revenue hit $70.53 billion, up 11.6% year over year, with comparable sales climbing 9.8% and e-commerce traffic surging 37%. Shares trade at $995.20, up 15.73% year to date. The question I want to answer: can this stock reach $1,300 by 2029, or is the warehouse story already priced in?"

"Despite the strong fundamentals, the stock has been frustrating lately. Shares are down 5.26% over the past week and basically flat over the last month at 0.27%. The one-year return is actually negative 1.22%. The issue is the multiple. With a trailing P/E of 52, investors are paying a premium that leaves little room for error."

"Wall Street's consensus price target sits at $1,076.97, with 3 Strong Buys, 19 Buys, 12 Holds, and 2 Sells. Our model's base case lands at $1,069.24, implying 7.44% upside with 90% confidence. The optimistic 1-year scenario stretches to $1,152.91, the bear case to $975.72."

"Reaching $1,300 from today's price of $995.20 would require a gain of 30.6%. With forward EPS of $20.87, a price of $1,300 implies a forward P/E of 62x. Our base case of $1,069.24 already implies 50x, meaning the bold target requires roughly 12x of additional multiple expansion (or, more realisticall"

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