Shares of Starbucks Corp (NASDAQ:SBUX) spiked on Wednesday, after the coffee franchise reported fiscal second-quarter (Q2) results.

Here are the key analyst insights:

  • BTIG analyst Peter Saleh reaffirmed a Buy rating, and raised the price target from $105 to $115.
  • TD Cowen analyst Andrew Charles maintained a Hold rating, while lifting the price target from $96 to $106.
  • Goldman Sachs analyst Christine Cho reiterated a Neutral rating and raised the price target from $105 to $110.
  • DA Davidson analyst Matt Curtis maintained a Neutral rating, while lifting the price target from $97 to $102.

Check out other analyst stock ratings.

BTIG: Starbucks earnings came in higher than expected on the back of better International operating margins. Global same-store sales grew 6.2%, significantly higher than consensus of 4%, Saleh said.

Starbucks saw its best traffic in three years. A 4.4% spike suggests that the company's turnaround "is very much gaining momentum," the analyst stated. "Management also noted that trends continued in April, despite recent macro (gas price) headwinds," he added.

TD Cowen: Starbucks reported North America (NA) same-store sales growth of 7.1%, higher than the consensus of 4.2%, Charles said. He added that the company's sales were driven by:

  • Marketing
  • Menu innovation
  • Speed of operations, fueled by the Green Apron labor model

Management raised their earnings guidance for fiscal 2026 from $2.15-$2.40 per share to $2.25-$2.45 per share, the analyst stated. This guidance raised "only modestly exceeded" the beat reported for the second quarter, as management indicated that it could "take more time for sales strength to flow through to EPS," he further wrote.

Goldman Sachs: Starbucks reported total revenues of $9.53 billion and adjusted earnings of 50 cents per share, topping consensus estimates of $9.13 billion and 42 cents per share, respectively, Cho said. Operating margin of 9.4% came in ahead of Street expectations of 8.2%, she added.

The company's results demonstrated a "meaningful improvement in its turnaround strategy," the analyst wrote.

Also, the updated Rewards program drove better customer engagement. The Green Apron Service standards increased reliability and consistency despite volume growth, she further wrote.

DA Davidson: Starbucks reported U.S. same-store sales growth of 7.1%. This represents a "significant sequential improvement" from the previous quarter's 4%, Curtis said. Consolidated global comps rose to 6.2% versus the consensus estimate of 4%, he added.

U.S. transaction growth accelerated to 4.3%, from 3% in the previous quarter. The company reported "broad-based strength across all customer income cohorts and age groups," the analyst wrote. Management raised its consolidated same-store sales growth guidance for fiscal 2026 to 5% plus, from its prior projection of 3% plus.

SBUX Price Action: Shares of Starbucks had risen by 9.39% to $106.41 at the time of publication on Wednesday.

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