On August 3, Marriott rose 3.26% overnight, trading at $384.0/share, with turnover of $691,400. The move came on the day the company released its Q2 fiscal year earnings before market open, with the market reacting positively.

Ahead of the release, consensus estimates called for adjusted EPS of approximately $3.06–$3.09, representing year-over-year growth of 16%–18%, and revenue of approximately $7.19–$7.3 billion, up about 8% year-over-year. Notably, in Q1 the company delivered an EPS beat of $0.16, reporting $2.72 versus expectations, with revenue of $6.654 billion (up 6.24% YoY) and a net margin of 35.80%.

In the lead-up to earnings, multiple investment banks raised their price targets: Goldman Sachs adjusted to $405 maintaining a Buy rating, Morgan Stanley raised to $380 maintaining Overweight, UBS significantly lifted its target to $412, and Barclays nudged to $379. The average analyst price target stood at approximately $388.74 with an overweight consensus rating.

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