Walmart will be added to the Nasdaq-100 index before the market opens on January 20, replacing AstraZeneca. This follows the company's decision to move its listing to the Nasdaq exchange in December.
CFO David Rainey stated that the move aligns with Walmart's "people-led, tech-powered approach" to long-term strategy. He said the company is integrating automation and artificial intelligence to build smarter retail experiences.
In its fiscal 2026 third quarter ended October 31, Walmart generated net sales of $177 billion, up 5.8% year over year. Global e-commerce sales jumped 27% during the period. CEO Doug McMillon noted the company is gaining market share.
Comparable sales at U.S. locations rose 4.8%, driven by transactions increasing 1.8% and average ticket size climbing 2.7%. The company increased its forecast and now expects net sales to grow roughly 5% at the midpoint of its guidance.
Rainey noted on the earnings call that the Walmart+ membership program saw double-digit growth, with Q3 net additions being "the strongest on record."
Of 43 analysts offering opinions in January, 93% rate Walmart stock a buy or strong buy, with none recommending selling. TD Cowen analyst Oliver Chen recently reiterated his buy rating and increased his price target to $136, representing potential upside of 15% compared to Monday's closing price.
Chen added Walmart to the firm's "Best Ideas 2026" list, arguing that value, scale, and technology adoption represent a durable competitive advantage. The stock currently sells for 42 times earnings, above its five-year average of 35.
Walmart has gained 28% over the past year and 465% over the past decade, outpacing both the Nasdaq Composite and S&P 500. Since its IPO in 1970, the stock has soared 549,000% as of this writing.