Goldman Sachs Raises Price Target for Ross Stores (NASDAQ: ROST) Amid Strong Financial Performance

Font: Financial Modeling Prep  • May 22, 2026

• Goldman Sachs reiterated its Buy rating for Ross Stores (NASDAQ: ROST), increasing its price target to $270.
• The off-price retailer reported a 21% increase in sales, reaching $6.01 billion, and raised its full-year comparable sales forecast to 6%-7%.
• Despite strong financial results, some analysts express caution regarding Ross Stores' premium valuation of 25 to 26 times expected future earnings.

On May 22, 2026, analyst firm Goldman Sachs confirmed its Buy rating for Ross Stores (NASDAQ: ROST). Ross Stores operates as an off-price retailer of apparel and home fashion in the United States, competing with companies like TJX Companies (NYSE: TJX). Goldman Sachs also raised its price target for Ross Stores to $270 from its previous $244.

The positive outlook is supported by strong financial performance. For the quarter ending May 2, 2026, Ross Stores reported a 21% increase in sales, reaching $6.01 billion, as highlighted by PR Newswire. The company's CEO, Jim Conroy, attributes this success to excellent business execution, increased customer traffic, and effective marketing strategies.

Following these results, Ross Stores has raised its forecast for the current fiscal year. The company now expects comparable sales to grow between 6% and 7%, an increase from the earlier projection of 3% to 4%, as highlighted by The Wall Street Journal. Comparable sales measure revenue from stores open for at least one year.

Despite this strong performance, some analysts express caution. An analysis highlighted by Seeking Alpha notes the stock trades at a premium valuation of 25 to 26 times its expected future earnings. This suggests there might be limited room for the stock price to grow further, leading that source to maintain a Hold rating.

At the time of the Goldman Sachs announcement, Ross Stores was trading at $217.19 per share. The stock has a 52-week high of $231.16 and a low of $124.49, with a market capitalization of about $70.25 billion. The new $270 price target from Goldman Sachs indicates a belief in significant upside from its current price.