Costco Wholesale Corp (NASDAQ:COST) shares are down on Friday, after the company reported mixed fiscal second-quarter results.

The results came in amid an exciting earnings season. Here are some key analyst takeaways.

Goldman Sachs On Costco Wholesale

Analyst Kate McShane maintained a Buy rating while raising the price target from $1,087 to $1,102.

Costco Wholesale's total company same-store sales, excluding gas, grew by 9.1%, beating consensus of 6.3%, McShane said in a note. He added that the company's earnings of $4.03 per share missed consensus of $4.11 per share.

Costco Wholesale's core margins contracted by eight basis points year-on-year "due to investments in the supply chain to support higher inventory, along with some mix changes in COST's nonfood categories," the analysts wrote. The company remains "as strong as ever," with February sales being driven above expectations by higher traffic, he further stated.

JPMorgan On Costco Wholesale

Analyst Christopher Horvers reaffirmed an Overweight rating while lifting the price target from $1,065 to $1,070.

Costco Wholesale's earnings missed expectations due to a tax rate headwind and "other small items," Horvers said. Earnings grew by around 3% year-on-year during the fiscal second quarter and in high-singe-digits excluding a tax benefit last year, he added.

February comps were ahead of expectations and the U.S. comps were meaningfully better than peers, the analyst stated.

"Overall, given ongoing global/scaled momentum in the business, share gains across its box and geographies, leverage to a cyclical upswing in big ticket, and just-emerging digital marketing and advertising revenue benefits, we believe the fundamental COST story challenges all of the best companies in our coverage," he further wrote.

Check out other analyst stock ratings.

BMO Capital Markets On Costco Wholesale

Analyst Kelly Bania maintained an Outperform rating and price target of $1,175.

Costco Wholesale e-commerce sales grew 22%, representing the fifth consecutive quarter of high-teens percentage growth, Bania said. Renewal rates rose towards record levels and executive member sales penetration reached 74%, Bania added.

The company's core gross margins contracted due to supply chain wage investments, the analyst stated. "There is a long runway of both unit growth and same-store sales growth for Costco given its disciplined & differentiated approach to value & quality in retail," Bania further wrote.

Telsey Advisory Group On Costco Wholesale

Analyst Joseph Feldman reiterated an Outperform rating and price target of $1,100.

Costco Wholesale reported strong sales growth for both the fiscal second quarter and February, with "healthy profits," which reflects "the continued success of its business model," Feldman said. The company's total sales grew by 9.1% to $62.5 billion, while EBIT grew 12.3% to $2.3 billion, he added.

"Costco continues to execute well in this uncertain operating environment," the analyst wrote. The company is likely to be a "profitable share gainer," given its strong sales and high membership renewal rates among its large base of around 141 million members, he further stated.

COST Price Action: Shares of Costco Wholesale had declined by 6.58% to $957.69 at the time of publication on Friday.

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