Walmart Earnings Beat Estimates. The Stock Rises.

Strong Online Sales Help Drive Results

Walmart Inc. reported better-than-expected earnings for the second quarter on Tuesday, helped by strong online sales and a boost from the stimulus checks issued by the U.S. government.

The world's largest retailer said its online sales surged 97% in the quarter, as more people stayed home during the pandemic and shopped online.

Walmart also benefited from the government's stimulus checks, which boosted consumer spending in the quarter.

Walmart's Stock Rises After Earnings Report

Walmart's stock rose more than 5% in premarket trading on Tuesday after the company reported its earnings.

The stock has been on a tear in recent months, as investors bet that the company will benefit from the shift to online shopping.

Walmart's stock is now up more than 20% year-to-date.

Analysts Raise Price Targets

Following Walmart's earnings report, several analysts raised their price targets on the stock.

Goldman Sachs raised its price target to $175 from $160, while Wells Fargo raised its price target to $180 from $165.

Analysts are bullish on Walmart's long-term prospects, citing the company's strong e-commerce business and its ability to compete with Amazon.

Conclusion

Walmart's earnings report was a positive sign for the company and for the retail sector as a whole.

The company's strong online sales growth and its ability to benefit from the government's stimulus checks show that it is well-positioned to weather the pandemic.

Walmart's stock is likely to continue to perform well as investors bet on the company's long-term growth potential.