Analyst Consensus ?
ConsensusBuy16 ratings
Bullish1381.3%
Neutral318.7%
Bearish00.0%
Keysight Technologies, Inc. · KEYS · FY2026 Q3 · Calendar Q3 2026
Keysight Q3 FY2026: AI demand lifts growth as guidance rises
The quarter strengthens the case for a durable growth trajectory: demand was broad, AI infrastructure was a central driver, wireline momentum accelerated, and guidance increased. The evidence is encouraging but still needs to be tested against supply constraints, one-time tariff effects and the durability of AI-led spending.
Reported After market closeNYSETechnology
$57.25B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$3.07
Consensus $2.48
EPS surprise
+23.8%
Reported versus consensus
Reported revenue
$1.85B
Consensus $1.75B
Revenue surprise
+5.7%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-6.3%
Event window
SPY move
+0.2%
Same window
Abnormal move
-6.5%
Stock minus SPY
Volume
3.2×
Versus trailing sessions
Subsequent drift
+3.8%
Up to 20 sessions
KEYSSPY benchmark
Ask FN2 about KEYS FY2026 Q3
Transcript, numbers and history already loaded
Why did KEYS fall 6.3% after beating EPS estimates in FY2026 Q3?What changed in KEYS's guidance and outlook in FY2026 Q3?Give me the bull and bear case for KEYS after FY2026 Q3 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 another record result, said wireline revenue had overtaken wireless, raised the FY2026 outlook, and indicated acquisition integration was ahead of schedule. The main new counterweights are explicit attention to supply-chain constraints, tariff effects and the timing of 6G adoption.
Guidance delta
Management raised its outlook, projecting about 32% FY2026 revenue growth and about 60% FY2026 EPS growth; Q4 outlook was also raised.
Key takeaways
- Management described record Q3 results, with orders up 56% and revenue up 36% year over year.
- Wireline revenue surpassed wireless for the first time, while AI infrastructure, semiconductors and defense supported demand.
- Acquisition integration was ahead of schedule, with 80%–90% of the $100 million cost synergies projected by year-end.
Management priorities
- Invest ahead of AI and 6G transitions and expand optical and AI workload-emulation products.
- Scale manufacturing capacity and continue software and services growth.
- Complete acquisition integration and realize planned cost synergies.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$337.96Current
$150Low
$304.86Average
$440High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 21, 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 |
|---|---|---|---|---|
| Wells Fargo | Overweight | Overweight | Maintain | Aug 19, 2026 |
| UBS | Buy | Buy | Maintain | Aug 19, 2026 |
| Truist Securities | Hold | Hold | Maintain | Aug 19, 2026 |
| Susquehanna | Positive | Positive | Maintain | Aug 19, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Aug 19, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Aug 19, 2026 |
| Barclays | Overweight | Overweight | Maintain | Aug 19, 2026 |
| Baird | Outperform | Outperform | Maintain | Aug 19, 2026 |
| Citigroup | Buy | Buy | Maintain | May 21, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Apr 14, 2026 |
| Jefferies | Hold | Hold | Maintain | Dec 10, 2025 |
| B of A Securities | Neutral | Neutral | Maintain | Aug 20, 2025 |
| Deutsche Bank | Buy | Buy | Maintain | Nov 20, 2024 |
| Credit Suisse | Outperform | Outperform | Maintain | Nov 23, 2021 |
| Stifel Nicolaus | Buy | Buy | Maintain | Nov 27, 2019 |
| Stifel | Buy | Buy | Maintain | Nov 27, 2019 |
Named analyst price targets
Upside is calculated against the persisted current price $337.96. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Analyst unavailable | $425 | $319.23 | +25.8% | Aug 19, 2026 |
| UBS | Analyst unavailable | $440 | $323.15 | +30.2% | Aug 19, 2026 |
| Truist Financial | Analyst unavailable | $400 | $341.3 | +18.4% | Aug 19, 2026 |
| Susquehanna | Analyst unavailable | $440 | $341.3 | +30.2% | Aug 19, 2026 |
| Robert W. Baird | Quinn Fredrickson | $410 | $341.3 | +21.3% | Aug 19, 2026 |
| Wells Fargo | Analyst unavailable | $405 | $341.3 | +19.8% | Aug 19, 2026 |
| Barclays | Analyst unavailable | $429 | $341.3 | +26.9% | Aug 19, 2026 |
| Morgan Stanley | Meta Marshall | $400 | $322.05 | +18.4% | Jul 13, 2026 |
| Truist Financial | Analyst unavailable | $376 | $335.16 | +11.3% | May 21, 2026 |
| UBS | Analyst unavailable | $420 | $345.77 | +24.3% | May 20, 2026 |
| Morgan Stanley | Analyst unavailable | $350 | $346.58 | +3.6% | May 20, 2026 |
| Susquehanna | Analyst unavailable | $425 | $343.99 | +25.8% | May 20, 2026 |
| Wells Fargo | Analyst unavailable | $390 | $343.99 | +15.4% | May 20, 2026 |
| Robert W. Baird | Analyst unavailable | $385 | $343.99 | +13.9% | May 20, 2026 |
| Barclays | Analyst unavailable | $387 | $343.99 | +14.5% | May 20, 2026 |
| Susquehanna | Analyst unavailable | $415 | $346.32 | +22.8% | May 18, 2026 |
| Morgan Stanley | Analyst unavailable | $305 | $361.55 | -9.8% | May 15, 2026 |
| Goldman Sachs | Analyst unavailable | $384 | $331.11 | +13.6% | Apr 14, 2026 |
| UBS | Analyst unavailable | $340 | $245 | +0.6% | Feb 24, 2026 |
| Susquehanna | Analyst unavailable | $300 | $245 | -11.2% | Feb 24, 2026 |
| Morgan Stanley | Meta Marshall | $268 | $245 | -20.7% | Feb 24, 2026 |
| Goldman Sachs | Mark Delaney | $322 | $245 | -4.7% | Feb 24, 2026 |
| Barclays | Tim Long | $320 | $245 | -5.3% | Feb 24, 2026 |
| Robert W. Baird | Analyst unavailable | $257 | $239.54 | -24.0% | Feb 20, 2026 |
| Robert W. Baird | Richard Eastman | $230 | $219 | -31.9% | Feb 2, 2026 |
| Goldman Sachs | Analyst unavailable | $243 | $214.29 | -28.1% | Jan 15, 2026 |
| Morgan Stanley | Analyst unavailable | $227 | $204.87 | -32.8% | Dec 17, 2025 |
| Jefferies | Saree Boroditsky | $220 | $210.52 | -34.9% | Dec 10, 2025 |
| Robert W. Baird | Analyst unavailable | $210 | $195.46 | -37.9% | Nov 26, 2025 |
| Jefferies | Analyst unavailable | $195 | $194.14 | -42.3% | Nov 25, 2025 |
| Susquehanna | Analyst unavailable | $225 | $190.57 | -33.4% | Nov 25, 2025 |
| Morgan Stanley | Analyst unavailable | $208 | $177.67 | -38.5% | Nov 25, 2025 |
| UBS | Analyst unavailable | $230 | $177.67 | -31.9% | Nov 25, 2025 |
| Wells Fargo | Aaron Rakers | $225 | $177.67 | -33.4% | Nov 25, 2025 |
| Barclays | Analyst unavailable | $232 | $177.67 | -31.4% | Nov 25, 2025 |
| Goldman Sachs | Mark Delaney | $232 | $177.67 | -31.4% | Nov 25, 2025 |
| UBS | Analyst unavailable | $220 | $183.51 | -34.9% | Nov 11, 2025 |
| Jefferies | Analyst unavailable | $180 | $169.47 | -46.7% | Oct 27, 2025 |
| Morgan Stanley | Analyst unavailable | $180 | $171.1 | -46.7% | Oct 10, 2025 |
| Deutsche Bank | Matthew Niknam | $175 | $155.01 | -48.2% | Aug 23, 2024 |
| Goldman Sachs | Mark Delaney | $181 | $153.19 | -46.4% | Aug 21, 2024 |
| Bank of America Securities | David Ridley-Lane | $150 | $138.57 | -55.6% | Aug 21, 2024 |
| Susquehanna | Mehdi Hosseini | $185 | $154.42 | -45.3% | Aug 21, 2024 |
| Barclays | Tim Long | $158 | $138.57 | -53.2% | Aug 21, 2024 |
| Susquehanna | Mehdi Hosseini | $195 | $148.16 | -42.3% | May 21, 2024 |
| Robert W. Baird | Richard Eastman | $167 | $159.75 | -50.6% | May 21, 2024 |
| Goldman Sachs | Mark Delaney | $175 | $159.75 | -48.2% | May 21, 2024 |
| Barclays | Tim Long | $151 | $159.75 | -55.3% | May 21, 2024 |
| Barclays | Tim Long | $202 | $148.8 | -40.2% | May 16, 2023 |
| Industrial Alliance Securities | Mark Delaney | $196 | $185.2 | -42.0% | Dec 13, 2022 |
| Morgan Stanley | Analyst unavailable | $184 | $183.1 | -45.6% | Dec 13, 2022 |
| UBS | Analyst unavailable | $205 | $173.59 | -39.3% | Nov 29, 2022 |
| Susquehanna | Analyst unavailable | $200 | $169.64 | -40.8% | Nov 18, 2022 |
| Deutsche Bank | Analyst unavailable | $190 | $170.36 | -43.8% | Nov 18, 2022 |
| Morgan Stanley | Analyst unavailable | $170 | $173.22 | -49.7% | Nov 14, 2022 |
| Deutsche Bank | Matthew Niknam | $193 | $169.29 | -42.9% | Aug 18, 2022 |
| Susquehanna | Mehdi Hosseini | $222 | $136 | -34.3% | May 18, 2022 |
| Goldman Sachs | Mark Delaney | $192 | $176.83 | -43.2% | Sep 26, 2021 |
| Bank of America Securities | David Ridley Lane | $181 | $166.69 | -46.4% | Aug 19, 2021 |
Track every rating change on KEYS the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationKeysight Technologies, Inc. specializes in providing advanced electronic design and testing solutions to a diverse array of global industries, spanning commercial communications, networking, aerospace, defense, government, automotive, energy, semiconductor manufacturing, general electronics, and education. The company's operations extend across the Americas, Europe, and the Asia Pacific region. Its Communications Solutions Group focuses on electronic design automation (EDA) software and sophisticated radio frequency (RF) and microwave testing systems, along with associated software. This segment also delivers cutting-edge hardware and virtual platforms for network testing, addressing areas such as data centers, routing and switching, software-defined networking (SDN), security, and encryption.…
Historical context
All KEYS earningsTechnology peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| 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 |
| SAIL SailPoint, Inc. | FY2027 Q2 · Calendar Q3 2026 | +13.8% | -1.2% | SailPoint pairs 25% ARR growth with accelerating AI-driven adoption |
| CIEN Ciena Corporation | FY2026 Q3 · Calendar Q3 2026 | +22.0% | -10.4% | Ciena raises outlook as AI networking demand lifts backlog |
| DOCU DocuSign, Inc. | FY2027 Q2 · Calendar Q3 2026 | +6.4% | +3.7% | DocuSign Q2 FY27: IAM momentum supports a raised outlook |
| IOT Samsara Inc. | FY2027 Q2 · Calendar Q3 2026 | +25.0% | +3.7% | Samsara: AI adoption expands as FY27 guidance holds |
Latest beats and misses
Who reports nextBeat on EPS
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
- CASYFY2027 Q1 · September 8, 2026+8.7% EPS-14.2% move
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Sources
- Earnings call transcript and parsed analysis · 2026-08-19T03:18:57.570185+00:00
- FN2 earnings calendar · 2026-09-21T01:23:13.071796+00:00
- Polygon adjusted daily market bars · 2026-09-21T13:10:57.541837+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-21T13:10:57.539167+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 . For educational purposes only; not investment advice.