• Scot Ciccarelli from Truist Financial sets a new price target for Costco (NASDAQ:COST) at $926, indicating a potential increase of approximately 6.7%.
• Costco reports an 8% increase in revenue, reaching $67.3 billion in the first quarter, with earnings per share at $4.50.
• The company continues its expansion with 923 warehouses and a 14% increase in membership fee income to $1.33 billion.

Costco Wholesale Corporation (NASDAQ:COST) is a leading global retailer known for its membership-only warehouse clubs. The company operates over 900 warehouses worldwide, offering a wide range of merchandise, including groceries, electronics, and apparel. Costco competes with other major retailers like Walmart and Target, but it distinguishes itself with its bulk sales model and strong membership base.

On December 12, 2025, Scot Ciccarelli from Truist Financial set a price target of $926 for Costco, indicating a potential increase of approximately 6.7% from its then-current price of $867.89. This adjustment from a previous target of $1,033 reflects a more conservative outlook, despite Costco's strong financial performance in recent quarters.

Costco's first-quarter results showcased an 8% increase in revenue, reaching $67.3 billion, surpassing analysts' expectations by $200 million. This growth was driven by robust digital engagement and steady customer traffic. Earnings per share were reported at $4.50, exceeding forecasts by $0.22, highlighting the company's ability to outperform market predictions.

The company's expansion strategy remains aggressive, with 923 warehouses at the end of the quarter, an increase of 26 from the previous year. Comparable sales rose by 6.4% on an adjusted basis, with a 5.9% growth in the US market. Digitally enabled sales surged by 20.5%, underscoring the impact of strong online engagement on overall sales and customer traffic.

Costco's membership fee income also saw a notable increase, rising 14% year-over-year to $1.33 billion. This growth was supported by a higher penetration of Executive Memberships, despite a slight decline in renewal rates. The company's focus on technology, such as the Costco digital wallet and pre-scanning for small to medium-sized baskets, enhances the member experience and productivity.