Analyst Consensus ?
ConsensusBuy18 ratings
Bullish1372.2%
Neutral527.8%
Bearish00.0%
CDW Corporation · CDW · FY2024 Q2 · Calendar Q3 2024
CDW Maintains Outlook as Cloud and Security Offset Hardware Weakness
CDW’s Q2 analysis provides mixed evidence for a near-term recovery thesis: cloud, security and services are supporting profitability, but modest revenue pressure, weak networking and server demand, funding delays and cautious spending constrain visibility. The maintained outlook and continued AI investment support resilience, while the path to stronger growth remains unproven.
Reported Before market openNASDAQTechnology
$20.64B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.50
Consensus $2.53
EPS surprise
-1.2%
Reported versus consensus
Reported revenue
$5.42B
Consensus $5.43B
Revenue surprise
-0.0%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-6.2%
Event window
SPY move
+1.6%
Same window
Abnormal move
-7.8%
Stock minus SPY
Volume
2.2×
Versus trailing sessions
Subsequent drift
+2.9%
Up to 20 sessions
CDWSPY benchmark
Ask FN2 about CDW FY2024 Q2
Transcript, numbers and history already loaded
Why did CDW fall 6.2% after missing EPS estimates in FY2024 Q2?What changed in CDW's guidance and outlook in FY2024 Q2?Give me the bull and bear case for CDW after FY2024 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, management continued to emphasize cloud, security, services, AI and share gains, while the current analysis highlighted worsening UK conditions, continued federal funding delays and no near-term recovery expected in affected areas. Cloud, security and services offset weakness in networking, servers and hardware, and the full-year outlook was maintained.
Guidance delta
Maintained: management reaffirmed its outlook for flat-to-low single-digit gross-profit growth and EPS flat to slightly up.
Key takeaways
- Cloud, security and services supported profitability while networking, servers and other hardware remained soft.
- Federal budget timing and UK political and economic uncertainty continued to pressure demand.
- Management maintained its full-year outlook and emphasized AI enablement, portfolio balance and share gains.
- Client-device refresh cycles, cybersecurity spending and cloud workload growth remain identified demand drivers.
Management priorities
- Accelerate cloud, security and services offerings.
- Invest in AI capabilities and talent.
- Pursue selective M&A to enhance the solution stack.
- Continue dividend increases and share-repurchase activity.
- Focus on gaining market share across hardware and solution categories.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$165.11Current
$130Low
$183.67Average
$270High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 25, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Barclays | Equal Weight | Equal Weight | Maintain | Sep 21, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Aug 6, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Jul 13, 2026 |
| JP Morgan | Overweight | Neutral | Upgrade | May 27, 2026 |
| UBS | Buy | Buy | Maintain | May 7, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | May 7, 2026 |
| Raymond James | Strong Buy | Outperform | Upgrade | Nov 25, 2025 |
| Stifel | Buy | Buy | Maintain | Jul 17, 2024 |
| Northcoast Research | Buy | Neutral | Upgrade | Jun 7, 2024 |
| Credit Suisse | Outperform | Outperform | Maintain | May 4, 2023 |
| B of A Securities | Neutral | Buy | Downgrade | Apr 19, 2023 |
| CFRA | Hold | Hold | Maintain | May 7, 2020 |
| Bank of America | Buy | Buy | Maintain | Jul 30, 2019 |
| Stifel Nicolaus | Hold | Buy | Downgrade | Apr 17, 2019 |
| Baird | Outperform | Neutral | Upgrade | May 9, 2017 |
| Deutsche Bank | Buy | Buy | Maintain | Aug 4, 2016 |
| Goldman Sachs | Buy | Buy | Maintain | Dec 1, 2015 |
| RBC Capital | Outperform | Outperform | Maintain | May 8, 2015 |
Named analyst price targets
Upside is calculated against the persisted current price $165.11. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Barclays | Analyst unavailable | $150 | $152.38 | -9.2% | Sep 8, 2026 |
| Morgan Stanley | Erik Woodring | $171 | $140.89 | +3.6% | Aug 6, 2026 |
| Morgan Stanley | Erik Woodring | $170 | $123.57 | +3.0% | Jun 23, 2026 |
| RBC Capital | Analyst unavailable | $130 | $108.59 | -21.3% | May 27, 2026 |
| UBS | Analyst unavailable | $147 | $113.08 | -11.0% | May 7, 2026 |
| Barclays | Analyst unavailable | $123 | $109 | -25.5% | May 7, 2026 |
| Raymond James | Analyst unavailable | $150 | $111.17 | -9.2% | May 6, 2026 |
| UBS | Analyst unavailable | $162 | $138.08 | -1.9% | Feb 5, 2026 |
| Barclays | Analyst unavailable | $144 | $138.08 | -12.8% | Feb 5, 2026 |
| Evercore ISI | Analyst unavailable | $180 | $127.51 | +9.0% | Jan 20, 2026 |
| Morgan Stanley | Analyst unavailable | $141 | $131.75 | -14.6% | Jan 20, 2026 |
| Morgan Stanley | Analyst unavailable | $177 | $145.02 | +7.2% | Dec 17, 2025 |
| Raymond James | Adam Tindle | $185 | $141.92 | +12.0% | Nov 25, 2025 |
| UBS | Analyst unavailable | $190 | $142.21 | +15.1% | Nov 5, 2025 |
| Barclays | Analyst unavailable | $148 | $141.66 | -10.4% | Nov 5, 2025 |
| Citigroup | Asiya Merchant | $245 | $226.3 | +48.4% | Oct 1, 2024 |
| Northcoast Research | Keith Housum | $270 | $224.24 | +63.5% | Jun 7, 2024 |
| J.P. Morgan | Analyst unavailable | $225 | $178.46 | +36.3% | Dec 20, 2022 |
| Stifel Nicolaus | Matthew Sheerin | $210 | $171.68 | +27.2% | Apr 18, 2022 |
| Morgan Stanley | Erik Woodring | $214 | $178.83 | +29.6% | Apr 4, 2022 |
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Start freeCompany context
Snapshot as of publicationCDW Corporation specializes in delivering comprehensive information technology services and products across North America and the United Kingdom. It strategically targets three core client divisions: corporate enterprises, small to medium-sized businesses, and public sector organizations. Their portfolio encompasses both individual hardware and software offerings, alongside sophisticated integrated IT solution packages. These comprehensive solutions span on-premise, hybrid, and cloud environments, addressing critical areas such as data center infrastructure, network management, digital workspace enablement, and robust security.…
Historical context
All CDW earningsTechnology peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| INFY Infosys Limited | FY2027 Q2 · Calendar Q4 2026 | -4.8% | -6.6% | Infosys trims growth outlook as AI revenue and deal wins accelerate |
| SSNC SS&C Technologies Holdings, Inc. | FY2026 Q3 · Calendar Q4 2026 | +0.6% | +2.8% | SS&C raises 2026 outlook as AI and tokenization support growth |
| ROP Roper Technologies, Inc. | FY2026 Q3 · Calendar Q4 2026 | +1.7% | +9.7% | Roper raises DEPS outlook as AI adoption expands across portfolio |
| VRSN VeriSign, Inc. | FY2026 Q3 · Calendar Q4 2026 | -2.0% | -0.9% | VeriSign reports record registrations as renewal mix becomes a key watchpoint |
| TTMI TTM Technologies, Inc. | FY2026 Q3 · Calendar Q4 2026 | +16.8% | -27.7% | TTM Technologies Q3: Record Growth, Higher Investment, More Deal Risk |
| NOK Nokia Oyj | FY2026 Q3 · Calendar Q4 2026 | +25.0% | -14.8% | Nokia Q3: AI and cloud growth lifts margins as cash flow stays negative |
Latest beats and misses
Who reports nextBeat on EPS
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
- FCNCNFY2026 Q3 · October 23, 2026+19.9% EPS+0.2% move
- FCNCOFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- FCNCPFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
- SLBFY2026 Q3 · October 23, 2026+3.7% EPS+7.1% move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
Get the CDW recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-10-17T05:10:49.140638+00:00
- Polygon adjusted daily market bars · 2026-10-25T03:50:40.594113+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-25T03:50:40.591263+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-25. For educational purposes only; not investment advice.