On August 5, CDW Corp fell 23.38% in pre-market trading, trading at approximately $119.16/share, with turnover of $883,200.
On the news front, CDW Corp released its Q2 earnings report before market open, reporting adjusted EPS of $2.91, beating the consensus estimate of $2.80 by 3.93% and representing an 11.92% year-over-year increase from $2.60. Revenue came in at $6.572 billion, surpassing the $6.206 billion estimate and reflecting approximately 12.6% year-over-year growth. Despite the dual beat on both top and bottom lines, the stock experienced significant selling pressure, suggesting potential investor concerns over forward guidance or the sustainability of demand momentum.
Prior to the earnings release, multiple investment banks had maintained bullish stances on CDW Corp. Morgan Stanley upgraded the stock to overweight in June with a $170 price target citing strong enterprise server demand driven by AI on-premise deployment, while JPMorgan upgraded to overweight in May with a $130 target. The company also authorized an additional $1 billion share buyback program in May.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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