Analyst Consensus ?
ConsensusHold22 ratings
Bullish1150.0%
Neutral1045.5%
Bearish14.5%
Evercore Inc. · EVR · FY2026 Q2 · Calendar Q3 2026
Evercore posts record Q2 as backlog and AI-led M&A support momentum
The quarter supports a constructive near-term operating narrative: record revenue, strong first-half growth, a near-record backlog and broad business-line performance point to continued demand. The main counterweight is that higher non-compensation spending and questions about margins could temper earnings conversion.
Reported Before market openNYSEFinancial Services
$11.17B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.91
Consensus $3.03
EPS surprise
-4.0%
Reported versus consensus
Reported revenue
$998.5M
Consensus $985.0M
Revenue surprise
+1.4%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-10.5%
Event window
SPY move
-1.5%
Same window
Abnormal move
-9.0%
Stock minus SPY
Volume
3.8×
Versus trailing sessions
Subsequent drift
-4.4%
Up to 20 sessions
EVRSPY benchmark
Ask FN2 about EVR FY2026 Q2
Transcript, numbers and history already loaded
Why did EVR fall 10.5% after missing EPS estimates in FY2026 Q2?What changed in EVR's guidance and outlook in FY2026 Q2?Give me the bull and bear case for EVR after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Evercore moved from the prior quarter's record performance and expectation of comparable Q2 strength to a reported record Q2, with management highlighting a near-record backlog, stronger underwriting and wealth-management results, and AI as an expanding source of M&A activity. No formal guidance was provided.
Guidance delta
No formal guidance was provided in the current analysis. Management expressed confidence in continued growth through the second half and beyond.
Key takeaways
- Record Q2 adjusted revenue and EPS growth were broad-based across advisory, underwriting, private funds and wealth management.
- A near-record backlog and strong client engagement support management's constructive second-half outlook.
- AI is being discussed as both a source of M&A activity and an area for internal technology investment.
- Higher non-compensation expenses and margin-conversion questions remain important offsets.
Management priorities
- Add talent in AI, health care and restructuring.
- Invest in technology, data management and AI platforms.
- Expand European capabilities, including restructuring.
- Build equity-capital-markets presence and use AI-related M&A opportunities to deepen deal flow.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$290.5Current
$109Low
$339.8Average
$870High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 31, 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 |
|---|---|---|---|---|
| UBS | Neutral | Neutral | Maintain | Oct 29, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Oct 29, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Oct 1, 2026 |
| BMO Capital | Market Perform | Market Perform | Maintain | Aug 3, 2026 |
| Keefe, Bruyette & Woods | Outperform | Outperform | Maintain | Jul 30, 2026 |
| JMP Securities | Market Perform | Market Outperform | Downgrade | Jul 14, 2025 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Jul 11, 2025 |
| Evercore ISI Group | Sell | Neutral | Downgrade | Sep 23, 2022 |
| Piper Sandler | Overweight | Overweight | Maintain | Jul 8, 2022 |
| Seaport Global | Buy | Buy | Maintain | Dec 16, 2020 |
| Wolfe Research | Peer Perform | Outperform | Downgrade | Jul 9, 2020 |
| Bank of America | Buy | Buy | Maintain | Jun 26, 2018 |
| B of A Securities | Buy | Buy | Maintain | Jun 26, 2018 |
| Nomura | Neutral | Neutral | Maintain | Nov 3, 2017 |
| Craig-Hallum | Hold | Buy | Downgrade | Mar 16, 2016 |
| Susquehanna | Neutral | Positive | Downgrade | Nov 10, 2015 |
| Credit Suisse | Outperform | Outperform | Maintain | Sep 8, 2015 |
| Keefe Bruyette & Woods | Outperform | Outperform | Maintain | Jul 8, 2015 |
| Macquarie | Outperform | Outperform | Maintain | Nov 25, 2014 |
| Sandler O'Neill | Buy | Hold | Upgrade | Jun 25, 2014 |
| S&P Capital IQ | Buy | Hold | Upgrade | Dec 30, 2013 |
| Bank oferica | Neutral | Neutral | Maintain | Apr 9, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $290.5. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Goldman Sachs | Analyst unavailable | $357 | $292.38 | +22.9% | Oct 28, 2026 |
| Evercore ISI | Mark Mahaney | $870 | $252.01 | +199.5% | Oct 22, 2026 |
| Morgan Stanley | Analyst unavailable | $315 | $267.26 | +8.4% | Oct 8, 2026 |
| Evercore ISI | Analyst unavailable | $150 | $262.42 | -48.4% | Oct 7, 2026 |
| UBS | Analyst unavailable | $318 | $268.08 | +9.5% | Oct 7, 2026 |
| Goldman Sachs | Analyst unavailable | $331 | $257.5 | +13.9% | Oct 1, 2026 |
| Evercore ISI | Mark Mahaney | $860 | $287.92 | +196.0% | Sep 10, 2026 |
| BMO Capital | Brennan Hawken | $338 | $320.56 | +16.4% | Aug 3, 2026 |
| Morgan Stanley | Analyst unavailable | $363 | $310.16 | +25.0% | Jul 30, 2026 |
| Morgan Stanley | Analyst unavailable | $389 | $304.71 | +33.9% | Jul 30, 2026 |
| Evercore ISI | Mark Mahaney | $820 | $304.71 | +182.3% | Jul 30, 2026 |
| Goldman Sachs | Analyst unavailable | $376 | $304.71 | +29.4% | Jul 29, 2026 |
| UBS | Analyst unavailable | $350 | $337.96 | +20.5% | Jul 8, 2026 |
| Evercore ISI | Mark Mahaney | $930 | $367.04 | +220.1% | Jun 17, 2026 |
| Morgan Stanley | Analyst unavailable | $376 | $318.03 | +29.4% | Apr 30, 2026 |
| UBS | Analyst unavailable | $330 | $319.47 | +13.6% | Apr 30, 2026 |
| Goldman Sachs | James Yaro | $374 | $350.54 | +28.7% | Apr 14, 2026 |
| Morgan Stanley | Analyst unavailable | $384 | $334.96 | +32.2% | Apr 9, 2026 |
| RBC Capital | Analyst unavailable | $420 | $348.59 | +44.6% | Feb 5, 2026 |
| UBS | Analyst unavailable | $383 | $356.36 | +31.8% | Feb 5, 2026 |
| Morgan Stanley | Analyst unavailable | $381 | $354.21 | +31.2% | Feb 4, 2026 |
| Evercore ISI | David Motemaden | $390 | $338.73 | +34.3% | Feb 3, 2026 |
| Evercore ISI | Analyst unavailable | $435 | $362 | +49.7% | Jan 26, 2026 |
| Wolfe Research | Analyst unavailable | $406 | $374.91 | +39.8% | Jan 7, 2026 |
| UBS | Michael Brown | $363 | $371.26 | +25.0% | Jan 7, 2026 |
| Goldman Sachs | Analyst unavailable | $413 | $351.27 | +42.2% | Jan 5, 2026 |
| UBS | Michael Brown | $340 | $344.78 | +17.0% | Dec 11, 2025 |
| Evercore ISI | David Motemaden | $387 | $338.02 | +33.2% | Dec 10, 2025 |
| Morgan Stanley | Analyst unavailable | $373 | $331.69 | +28.4% | Dec 8, 2025 |
| Evercore ISI | Mark Mahaney | $875 | $292.49 | +201.2% | Oct 30, 2025 |
| Evercore ISI | Analyst unavailable | $400 | $318 | +37.7% | Oct 8, 2025 |
| Wolfe Research | Steven Chubak | $311 | $274.88 | +7.1% | Jan 3, 2025 |
| Evercore ISI | Kenneth Leon | $250 | $238.93 | -13.9% | Sep 13, 2024 |
| Goldman Sachs | James Yaro | $276 | $233.88 | -5.0% | Sep 10, 2024 |
| Goldman Sachs | James Yaro | $251 | $236.39 | -13.6% | Jul 24, 2024 |
| Morgan Stanley | Analyst unavailable | $102 | $134.23 | -64.9% | Feb 6, 2023 |
| Morgan Stanley | Analyst unavailable | $94 | $126.73 | -67.6% | Jan 12, 2023 |
| Goldman Sachs | Analyst unavailable | $125 | $125.09 | -57.0% | Jan 11, 2023 |
| UBS | Analyst unavailable | $95 | $122.12 | -67.3% | Jan 9, 2023 |
| Evercore ISI | Matthew Moon | $126 | $109.08 | -56.6% | Jan 2, 2023 |
| Evercore ISI | Michael Brown | $109 | $99.65 | -62.5% | Oct 27, 2022 |
| Morgan Stanley | Analyst unavailable | $97 | $92.81 | -66.6% | Jul 19, 2022 |
Track every rating change on EVR the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationEvercore Inc. functions as an autonomous investment banking advisory firm, maintaining a substantial international presence with operations spanning the United States, Europe, and Latin America. The company is structured into two core business units: Investment Banking and Investment Management. Its Investment Banking division provides extensive strategic guidance, covering mergers and acquisitions, corporate strategic planning, defense advisory, shareholder relations, special committee engagements, and complex transaction structuring.…
Historical context
All EVR earningsFinancial Services peers this season
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|---|---|---|---|---|
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| COIN Coinbase Global, Inc. | FY2026 Q3 · Calendar Q4 2026 | +1189.2% | -10.6% | Coinbase offsets lower spot trading with prediction markets and AI agents |
| TPG TPG Inc. | FY2026 Q3 · Calendar Q4 2026 | +4.3% | +7.5% | TPG raises FRE margin outlook as capital formation accelerates |
| AJG Arthur J. Gallagher & Co. | FY2026 Q3 · Calendar Q4 2026 | +0.3% | +2.9% | AJG: Q3 growth and AssuredPartners synergies support outlook |
Latest beats and misses
Who reports nextBeat on EPS
- FRTFY2026 Q3 · October 30, 2026+3.9% EPS-1.1% move
- CVXFY2026 Q3 · October 30, 2026+8.4% EPS+1.8% move
- BTSGFY2026 Q3 · October 30, 2026+14.2% EPS+11.1% move
- EXCFY2026 Q3 · October 30, 2026+10.4% EPS+0.5% move
- ABBVFY2026 Q3 · October 30, 2026+2.4% EPS+1.4% move
- GDFY2026 Q3 · October 30, 2026+9.0% EPS+0.5% move
Missed on EPS
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
- VALEFY2026 Q3 · October 29, 2026-24.6% EPS+1.9% move
- DLR-PLFY2026 Q3 · October 29, 2026-8.4% EPS— move
- DLR-PKFY2026 Q3 · October 29, 2026-8.4% EPS— move
- AMZNFY2026 Q3 · October 29, 2026-4.1% EPS-1.6% move
Get the EVR 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 · 2026-07-30T17:10:13.469775+00:00
- FN2 earnings calendar · 2026-09-03T01:23:14.877038+00:00
- Polygon adjusted daily market bars · 2026-10-31T14:00:41.276281+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-31T14:00:41.273473+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 2026-10-31. For educational purposes only; not investment advice.