Starbucks Stock Is Moving Higher Wednesday: What's Going On?

Starbucks Corporation SBUX stock is trading higher Wednesday after the company reported a third-quarter revenue beat.

What To Know: The company reported sales of $9.45 billion, beating the consensus estimate of $9.29 billion. In addition, the company reported earnings per share of 50 cents, missing the consensus estimate of 65 cents.

Global comparable store sales declined 2%, dragged down by a 2% drop in transaction volume, partially offset by a 1% increase in average ticket. In North America, comparable sales also fell 2%, while U.S. transactions slipped 4%.

International sales were flat, but China delivered a 2% gain in comparable sales as a 6% jump in transaction volume offset a 4% dip in average ticket. Starbucks opened 308 net new stores during the quarter, bringing its global footprint to 41,097.

"We've fixed a lot and done the hard work on the hard things to build a strong operating foundation, and based on my experience of turnarounds, we are ahead of schedule," said Brian Niccol, chairman and CEO of Starbucks.

"In 2026, we'll unleash a wave of innovation that fuels growth, elevates customer service and ensures everyone experiences the very best of Starbucks."

Analyst Changes: Following the earnings report, multiple analysts issued price target adjustments.

Barclays analyst Jeffrey Bernstein maintained an Overweight rating on Starbucks and raised the price target from $106 to $115.
Morgan Stanley analyst Brian Harbour maintained an Overweight rating on Starbucks and raised the price target from $95 to $103.
Citigroup analyst Jon Tower maintained a Neutral rating on Starbucks and lowered the price target from $100 to $99.
UBS analyst Dennis Geiger maintained a Neutral rating on Starbucks and raised the price target from $95 to $100.
RBC Capital analyst Logan Reich maintained an Outperform rating on Starbucks and raised the price target from $100 to $110.