Costco Wholesale Corporation (NASDAQ:COST) reported its Q2 results, with total revenue coming in at $51.90 billion, better than the consensus estimates of $51.47 billion. EPS was $2.92, beating the consensus estimate of $2.69, driven by stronger sales and expense controls.

In addition, management reported February comps, which suggest continued strong business momentum. February US comps (ex. fuel) grew 12.9% and two-year comp trends remained healthy at 23.2% compared to 25.9% in January.

According to the analysts at Oppenheimer, the company remains a top pick for them, but they believe there could be more sideways moves near-term before the next upward as investors await potential membership fee raise later this year and prospects for another special dividend.