Target's Turnaround Story Gets a Fresh Chapter: Visits Are Up and Earnings Are Next

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Retailer Target Corporation (TGT) could show signs of a continued turnaround when the company reports first-quarter financial results on Wednesday before market open.

Here are the earnings estimates, analyst ratings and the key items to watch.

Target Q1 Earnings Estimates

Analysts expect Target to report first-quarter revenue of $24.32 billion, up from $23.85 billion in last year's first quarter, according to market data.

The company missed analyst estimates for revenue in two straight quarters, while beating estimates in six of the past 10 quarters overall.

Analysts expect Target to report first-quarter earnings per share of $1.34, up from $1.30 in last year's first quarter.

The company has beaten analyst estimates for earnings per share in six of the past 10 quarters, including two straight quarters.

Target Analyst Ratings and Price Targets

Here are some of the most recent analyst ratings on Target stock and their price targets:

JPMorgan: Maintained Neutral rating, raised price target from $120 to $129
Piper Sandler: Maintained Neutral rating, raised price target from $119 to $121
Truist: Maintained Hold rating, raised price target from $121 to $123
Barclays: Maintained Underweight rating, raised price target from $108 to $115
Wells Fargo: Maintained Overweight rating, raised price target from $135 to $140

Key Items to Watch

New Target CEO Michael Fiddelke officially took over on Feb. 1, 2026, to start the new quarter, with the first fiscal quarter covering the months of February, March and April.

The new CEO looks to continue the momentum for the company's financials and for the stock price.

Data from Placer.ai shows that Target visits surged during the first fiscal quarter. Here are the year-over-year visits:

February: +7.8%
March: +7.3%
April: +5.5%

This marks a substantial improvement from the year-over-year visits declines of -1.8% and 4.3% in November and December and the slight growth of 0.3% in January.

This data suggests that first-quarter financials may be strong for Target and keep the momentum going.

Target shares hit new yearly highs in mid-April, with shares up around 24% year-to-date in 2026.

Sales by category could be a key topic to watch to see if Target is gaining or losing market share in key categories against rivals such as Walmart and Amazon. The company saw beauty sales and food and beverage unit sales up year-over-year in the fourth quarter, while apparel and accessories sales fell on a year-over-year basis.