Walmart just keeps defying the gravity that usually pulls down massive, legacy retailers. Honestly, if you’d looked at the retail landscape a decade ago, you might have bet against the "Big Blue Box" surviving the Amazon onslaught. But here we are in January 2026, and the narrative has completely flipped.
As of January 14, 2026, the wmt stock price per share is hovering around $120.36. It recently hit a new 52-week high of $120.51, and the momentum doesn't seem to be accidental. While some people still view Walmart as a slow-moving giant, the market is starting to treat it like a tech company.
The big news? Walmart officially moves to the Nasdaq-100 on January 20. That's a huge deal. It’s replacing AstraZeneca, and the shift from the New York Stock Exchange to the Nasdaq basically signals that Doug McMillon—and the incoming CEO John Furner—have successfully convinced the world that Walmart is a technology leader.
Why the WMT Stock Price Per Share is Spiking Right Now
Markets hate uncertainty, but they love a good pivot. Walmart hasn't just survived; it has cannibalized the growth of its competitors. The stock is up nearly 3% this week alone. This isn't just retail "vibes." It’s cold, hard numbers.
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In their last quarterly report (Q3 fiscal 2026), Walmart posted an adjusted EPS of $0.62, beating the $0.60 estimate. Their global eCommerce sales grew 27%. Let that sink in for a second. A company that already does nearly $700 billion in annual revenue is still growing its digital arm by nearly a third.
- Nasdaq-100 Inclusion: This move triggers massive rebalancing. Passive ETFs that track the Nasdaq-100 now have to buy up WMT shares.
- The AI "Agent" Play: They’ve partnered with Google to integrate Sam’s Club and Walmart assortments into the Gemini AI assistant. Imagine asking your phone to "buy more detergent" and it just happens because the AI knows your Walmart history.
- Automation: Over 60% of their stores are now getting freight from automated distribution centers. This lowers the "cost to serve," which is fancy talk for making more profit on every gallon of milk sold.
It's kinda wild to think about. You've got this massive brick-and-mortar footprint being used as a launching pad for drones. Walmart expects to have drone delivery in up to 270 locations soon.
The Dividend King Factor
For the "boring" investors, the wmt stock price per share is only half the story. Walmart is a Dividend King. They've raised their dividend for 53 consecutive years.
Currently, the projected annual dividend is around $0.94 per share. While a 0.82% yield won't make you rich overnight, the reliability is basically unmatched in the retail sector. They paid out their most recent dividend on January 5, 2026.
What the Analysts Are Saying (And Where They Disagree)
Wall Street is currently in a bit of a tug-of-war over Walmart’s valuation. Most analysts are bullish, but there's a vocal minority worried about the price tag.
RBC Capital recently hiked their price target to $126. Bernstein is even more optimistic, looking at $129. They argue that even as lower-income shoppers feel the pinch of inflation, higher-income households are flocking to Walmart for the first time. It turns out even wealthy people like saving five bucks on organic eggs.
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But here’s the kicker: Walmart is currently trading at a P/E ratio of about 41. That is significantly higher than the S&P 500 average. Some experts, like those at The Motley Fool, warn that the stock might be overextended. If Walmart doesn't hit a home run in its next earnings report on February 19, 2026, we could see a pullback toward the $110 range.
The "K-Shaped" Reality
We keep hearing about this "K-shaped" economy. Basically, the wealthy are doing fine and the middle class is struggling. Walmart is the only retailer that seems to win in both scenarios.
When things are bad, people trade down to Walmart. When things are good, Walmart uses its massive data and AI-powered "Walmart+" membership to keep them there. Their advertising business, Walmart Connect, grew 33% last quarter. They aren't just selling socks anymore; they're selling your attention to brands.
Is Walmart Overvalued at $120?
If you use a traditional Discounted Cash Flow (DCF) model, some analysts suggest an intrinsic value of about $126.90. If that's true, the current wmt stock price per share actually looks like a bit of a bargain, even at record highs.
However, you have to look at the risks.
- CEO Transition: Doug McMillon is a legend. John Furner has big shoes to fill.
- Margin Pressure: Wage inflation is real. Walmart has to pay its associates more to keep them, which eats into those tech-driven profits.
- Competition: Amazon isn't exactly sitting still, and Costco remains a beast in the membership space.
Honestly, the "tech" label is what's driving this current rally. If the market stops believing Walmart is a tech company and starts treating it like a grocery store again, that $120 price point might look very expensive very quickly.
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Actionable Insights for Investors
If you are looking at the wmt stock price per share today, don't just look at the ticker. Watch the February 19 earnings call like a hawk. Specifically, look for their guidance on "membership income" and "advertising growth." Those are the high-margin areas that justify a tech-like valuation.
If you’re a long-term holder, the Nasdaq-100 inclusion provides a nice "floor" for the stock due to institutional buying. But if you’re looking to swing trade, the 52-week high is a risky entry point. A lot of the "good news" about the Nasdaq move might already be baked into the current price.
Keep an eye on the $118 support level. If it stays above that through the end of January, the path to $130 looks a lot clearer.
Next Steps for Your Portfolio
- Check your exposure: If you own a Nasdaq-100 ETF (like QQQ), you’re about to own more Walmart automatically after January 20.
- Set your alerts: Target the February 19 earnings date to see if the AI "agent-led commerce" with Google is actually driving sales or just hype.
- Monitor the VIZIO integration: Walmart’s acquisition of VIZIO is the backbone of their new ad strategy; watch for how they use that data to target your TV.