Analyst Consensus ?
ConsensusBuy18 ratings
Bullish1372.2%
Neutral527.8%
Bearish00.0%
CDW Corporation · CDW · FY2025 Q1 · Calendar Q2 2025
CDW: Strong Q1 growth, steady outlook, tariff risks remain
The supplied analysis supports a constructive but qualified view: resilient Q1 demand, healthcare growth and cloud, security and AI activity support earnings momentum, while tariffs, government spending and hardware mix could limit margin and growth durability.
Reported Before market openNASDAQTechnology
$17.03B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $1.96
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus —
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+7.1%
Event window
SPY move
+0.4%
Same window
Abnormal move
+6.6%
Stock minus SPY
Volume
1.9×
Versus trailing sessions
Subsequent drift
+0.2%
Up to 20 sessions
CDWSPY benchmark
Ask FN2 about CDW FY2025 Q1
Transcript, numbers and history already loaded
What drove CDW's +7.1% move after FY2025 Q1 earnings?What changed in CDW's guidance and outlook in FY2025 Q1?Give me the bull and bear case for CDW after FY2025 Q1 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 reported stronger Q1 momentum, including 8% revenue growth and 20% healthcare growth. The company said a pull-forward of client-device purchases ahead of anticipated tariff increases had derisked Q2 demand, while maintaining its full-year outlook.
Guidance delta
Management maintained its FY2025 outlook for low-single-digit IT market growth and 200–300 basis points of outperformance.
Key takeaways
- Q1 revenue grew 8% year over year to $5.2 billion, with non-GAAP EPS up 12% to $2.15.
- Healthcare grew 20%, supported by devices, cloud and security.
- Gross margin remained near 21.6% despite a higher hardware mix.
- Management maintained its FY2025 outlook and emphasized cloud, AI and cybersecurity.
- Tariffs, public-sector spending and mix remain the main monitoring points.
Management priorities
- Embed Mission Cloud Services across the portfolio
- Expand AI and AWS-partner offerings
- Pursue selective acquisitions
- Hire selectively in technology, sales and industry verticals
- Maintain disciplined expense management
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$133.29Current
$130Low
$183.67Average
$270High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 3, 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 $133.29. 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 | +12.5% | Sep 8, 2026 |
| Morgan Stanley | Erik Woodring | $171 | $140.89 | +28.3% | Aug 6, 2026 |
| Morgan Stanley | Erik Woodring | $170 | $123.57 | +27.5% | Jun 23, 2026 |
| RBC Capital | Analyst unavailable | $130 | $108.59 | -2.5% | May 27, 2026 |
| UBS | Analyst unavailable | $147 | $113.08 | +10.3% | May 7, 2026 |
| Barclays | Analyst unavailable | $123 | $109 | -7.7% | May 7, 2026 |
| Raymond James | Analyst unavailable | $150 | $111.17 | +12.5% | May 6, 2026 |
| UBS | Analyst unavailable | $162 | $138.08 | +21.5% | Feb 5, 2026 |
| Barclays | Analyst unavailable | $144 | $138.08 | +8.0% | Feb 5, 2026 |
| Evercore ISI | Analyst unavailable | $180 | $127.51 | +35.0% | Jan 20, 2026 |
| Morgan Stanley | Analyst unavailable | $141 | $131.75 | +5.8% | Jan 20, 2026 |
| Morgan Stanley | Analyst unavailable | $177 | $145.02 | +32.8% | Dec 17, 2025 |
| Raymond James | Adam Tindle | $185 | $141.92 | +38.8% | Nov 25, 2025 |
| UBS | Analyst unavailable | $190 | $142.21 | +42.5% | Nov 5, 2025 |
| Barclays | Analyst unavailable | $148 | $141.66 | +11.0% | Nov 5, 2025 |
| Citigroup | Asiya Merchant | $245 | $226.3 | +83.8% | Oct 1, 2024 |
| Northcoast Research | Keith Housum | $270 | $224.24 | +102.6% | Jun 7, 2024 |
| J.P. Morgan | Analyst unavailable | $225 | $178.46 | +68.8% | Dec 20, 2022 |
| Stifel Nicolaus | Matthew Sheerin | $210 | $171.68 | +57.6% | Apr 18, 2022 |
| Morgan Stanley | Erik Woodring | $214 | $178.83 | +60.6% | Apr 4, 2022 |
Track every rating change on CDW the moment it posts. Free to start.
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 |
|---|---|---|---|---|
| ACN Accenture plc | FY2026 Q4 · Calendar Q4 2026 | +3.5% | +15.8% | Accenture: AI demand supports strong Q4, while pricing and geopolitics remain risks |
| JBL Jabil Inc. | FY2026 Q4 · Calendar Q3 2026 | +8.1% | -10.0% | Jabil enters FY2027 with AI-led growth and capacity risks |
| MU Micron Technology, Inc. | FY2026 Q4 · Calendar Q3 2026 | +5.4% | +0.0% | Micron: Strong AI Memory Demand, Higher Capex, and HBM4E Ahead |
| SNX TD Synnex Corp | FY2026 Q3 · Calendar Q3 2026 | +20.9% | -9.9% | TD SYNNEX: AI-led growth accelerates, but mix and cash flow matter |
| ADBE Adobe Inc. | FY2026 Q3 · Calendar Q3 2026 | +0.8% | +1.4% | Adobe raises FY26 outlook as AI strategy broadens |
| ORCL Oracle Corporation | FY2027 Q1 · Calendar Q3 2026 | +10.3% | -1.7% | Oracle raises FY27 outlook as AI demand accelerates cloud growth |
Latest beats and misses
Who reports nextBeat on EPS
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% 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 · 2025-04-23T00:02:08.365952+00:00
- Polygon adjusted daily market bars · 2026-10-03T08:56:05.016961+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-03T08:56:05.013700+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 2026-10-03. For educational purposes only; not investment advice.