Walmart stock faces an analyst downgrade before earnings

Published on 09/22/2026 at 13:32 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Walmart stock was downgraded to Perform by Oppenheimer on September 22, 2026, with pharmacy risks cited. Fiscal 2027 EPS guidance remains USD 2.75 to USD 2.85.

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Walmart stock (ISIN US9311421039) traded at USD 108.71 on Nasdaq on September 15, 2026, down 0.34 percent from USD 109.08, while its 52-week range stood at USD 98.88 to USD 135.16. The latest analyst action adds a valuation warning ahead of the next earnings report.

Oppenheimer cuts its rating

According to Stocktwits on September 22, 2026, Oppenheimer downgraded Walmart from Outperform to Perform before the company's second-quarter earnings report. The brokerage cited concerns about pharmacy operations and said Walmart's premium valuation leaves limited room for further outperformance.

The downgrade did not include a new price target because Oppenheimer did not have a target for Walmart. The same September 22, 2026 report said 37 of 43 analysts tracked by Koyfin rated the shares Buy or higher, showing that the downgrade was a dissenting view within a broadly positive analyst backdrop.

Guidance sets the earnings test

For the second quarter of fiscal 2027, the consensus cited by Stocktwits on September 22, 2026 called for earnings of USD 0.74 per share on revenue of USD 186.92 billion. Walmart's fiscal 2027 outlook, also reported on that date, targeted net sales growth of 3.5 percent to 4.5 percent and adjusted EPS of USD 2.75 to USD 2.85.

The comparison investors can quantify is the gap between the full-year sales outlook and the second-quarter revenue expectation: the company guided to a 3.5 percent to 4.5 percent annual sales increase, while the quarterly consensus was USD 186.92 billion. Pharmacy execution is the specific counter-factor identified in the downgrade, making the upcoming earnings release a test of whether the guidance range remains credible.

Stock remains below yearly high

MarketWatch data showed a market capitalization of USD 865.41 billion and volume of 10.43 million shares in its September 15, 2026 snapshot. The stock was USD 26.45 below the 52-week high of USD 135.16, while the 52-week low was USD 98.88.

According to Zacks on September 22, 2026, Walmart is scheduled to report its next earnings on November 19, 2026. Zacks also reported that the previous quarter produced EPS of USD 0.81 against a consensus estimate of USD 0.73, a positive surprise of 10.96 percent.

Walmart stock trades at USD 108.71

Walmart stock stood at USD 108.71 on Nasdaq as of September 15, 2026, with a daily change of minus 0.34 percent. The combination of a USD 865.41 billion market capitalization, fiscal 2027 adjusted EPS guidance of USD 2.75 to USD 2.85, and the September 22, 2026 downgrade leaves pharmacy performance and the November 19, 2026 earnings date as the next concrete checkpoints.