Costco Continues to Defy Expectations with Fifth Straight Earnings Beat

Costco posted its fifth consecutive earnings beat in its latest quarterly report. The company's renewal rate for U.S. and Canada is an impressive 92.3%, with 150.4 million cardholders.

The stock trades at a premium, near 44 times trailing earnings. However, our model suggests that there may be room for further gains.

Analysts are mostly bullish on the company, with 4 Strong Buy and 19 Buy ratings. In fact, Goldman Sachs sees a sharp move higher in the stock's price.