Analyst Consensus ?
ConsensusBuy10 ratings
Bullish880.0%
Neutral220.0%
Bearish00.0%
XP Inc. · XP · FY2026 Q1 · Calendar Q2 2026
XP maintains growth focus amid credit-spread and efficiency risks
The supplied analysis supports a constructive but conditional view: XP is pursuing growth through retail platform expansion, fee-based models, private banking and technology, while credit conditions, efficiency and client sentiment remain important tests.
Reported After market closeNASDAQFinancial Services
$10.92B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.47
Consensus $0.49
EPS surprise
-3.6%
Reported versus consensus
Reported revenue
$909.7M
Consensus $925.7M
Revenue surprise
-1.7%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-3.9%
Event window
SPY move
-0.7%
Same window
Abnormal move
-3.2%
Stock minus SPY
Volume
2.7×
Versus trailing sessions
Subsequent drift
-7.5%
Up to 20 sessions
XPSPY benchmark
Ask FN2 about XP FY2026 Q1
Transcript, numbers and history already loaded
Why did XP fall 3.9% after missing EPS estimates in FY2026 Q1?What changed in XP's guidance and outlook in FY2026 Q1?Give me the bull and bear case for XP after FY2026 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The current-quarter analysis emphasized a stronger shift toward goal-based investing, managed portfolios and fee-based models, alongside continued capital distributions and a new managerial P&L structure. The prior analysis had highlighted broader product expansion and technology-led adviser augmentation.
Guidance delta
Maintained
Key takeaways
- Management presented a confident growth outlook despite macro volatility.
- Retail net new money, goal-based investing and private banking are central growth areas.
- The company is expanding fee-based models while continuing technology and adviser-productivity investment.
- Capital distribution and a new reporting structure were important developments in the supplied analysis.
Management priorities
- Scale goal-based investing and managed portfolios
- Increase flat-fee and fee-based models
- Expand private banking and cross-selling
- Invest in technology and adviser productivity
- Continue shareholder distributions
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$20.88Previous close
$19Low
$25.5Average
$33High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Sep 24, 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 |
|---|---|---|---|---|
| Itau BBA | Outperform | Market Perform | Upgrade | Aug 31, 2026 |
| UBS | Buy | Buy | Maintain | Jun 3, 2026 |
| Citigroup | Buy | Buy | Maintain | Sep 24, 2025 |
| Goldman Sachs | Buy | Neutral | Upgrade | Jun 4, 2025 |
| B of A Securities | Neutral | Neutral | Maintain | May 21, 2025 |
| Morgan Stanley | Overweight | Equal Weight | Upgrade | May 13, 2025 |
| JP Morgan | Overweight | Overweight | Maintain | Oct 16, 2024 |
| Banco Bradesco BBI S.A | Outperform | Neutral | Upgrade | Jan 24, 2024 |
| Credit Suisse | Neutral | Underperform | Upgrade | Jul 20, 2023 |
| HSBC | Buy | Buy | Maintain | Feb 28, 2023 |
Named analyst price targets
Upside is calculated against the persisted previous close $20.88. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Jefferies | Analyst unavailable | $22 | $17.4 | +5.4% | Jan 19, 2026 |
| UBS | Thiago Batista | $25 | $17.58 | +19.7% | Dec 16, 2025 |
| UBS | Thiago Batista | $23 | $16.53 | +10.2% | Oct 16, 2025 |
| UBS | Thiago Batista | $21 | $18.25 | +0.6% | Jul 11, 2024 |
| Bradesco | Gustavo Schroden | $19 | $16.7 | -9.0% | Jul 2, 2024 |
| Goldman Sachs | Tito Labarta | $23 | $21.42 | +10.2% | Apr 30, 2024 |
| Morgan Stanley | Jorge Kuri | $24 | $21.11 | +14.9% | Apr 22, 2024 |
| Bradesco | Otavio Tanganelli | $32 | $25.47 | +53.3% | Jan 24, 2024 |
| Credit Suisse | Marcelo Telles | $26 | $23.82 | +24.5% | Jul 20, 2023 |
| HSBC | Neha Agarwala | $33 | $20.48 | +58.0% | Jun 10, 2022 |
Track every rating change on XP the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationXP Inc. provides financial products and services in Brazil. The company operates XP Platform, an open product platform that provides clients to access investment products in the market comprising brokerage securities, fixed income securities, mutual, hedge, and private equity funds; derivatives and synthetic instruments; credit cards; loan operations/collateralized credit products; pension and social security funds, and life and travel insurance products; and other investment products comprising real estate funds, and equity and debt capital markets solutions, as well as wealth management services. It offers brokerage and issuer services to institutional and corporate clients.…
Historical context
All XP earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| PUK Prudential plc | FY2026 Q2 · Calendar Q3 2026 | -40.9% | -0.5% | Prudential sustains growth and capital returns focus in H1 2026 |
| CM Canadian Imperial Bank of Commerce | FY2026 Q3 · Calendar Q3 2026 | +8.9% | -2.8% | CIBC Q3: Broad growth, resilient credit and expanded AI rollout |
| TD The Toronto-Dominion Bank | FY2026 Q3 · Calendar Q3 2026 | +13.8% | +1.4% | TD emphasizes growth investments alongside disciplined capital management |
| RY Royal Bank of Canada | FY2026 Q3 · Calendar Q3 2026 | +6.2% | -1.3% | RBC reports record Q3 earnings while investing for growth |
| AFRM Affirm Holdings, Inc. | FY2026 Q4 · Calendar Q3 2026 | +1230.3% | +0.3% | Affirm's most profitable quarter shifts focus to product execution |
Latest beats and misses
Who reports nextBeat on EPS
- GISFY2027 Q1 · September 23, 2026+4.6% EPS+1.0% move
- AZOFY2026 Q4 · September 22, 2026+3.6% EPS+3.3% move
- 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
Get the XP 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 · 2026-05-19T14:21:13.684712+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-09-24T11:40:54.666601+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-24T11:40:54.663834+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 2026-09-24. For educational purposes only; not investment advice.