Walmart: Strengthening Walmart+ Flywheel and eCommerce Scale Underpin Buy Rating

Morgan Stanley analyst Simeon Gutman has maintained their bullish stance on WMT stock, giving a Buy rating on January 30.

Simeon Gutman has given his Buy rating due to a combination of factors tied to Walmart’s strengthening membership and eCommerce ecosystem. He highlights that Walmart+ subscriptions reached a new peak in January 2026, with membership counts showing solid double‑digit year‑over‑year growth and higher penetration of U.S. households. This acceleration is viewed as durable rather than a short‑term fluctuation, and it corroborates management’s own indication that the membership program continues to expand at a healthy pace. Gutman sees this trajectory as a key driver of operating leverage, particularly in U.S. eCommerce.

Gutman also emphasizes that the expanding Walmart+ base enhances the company’s digital flywheel and monetization opportunities. The broad same‑day delivery coverage, now estimated to reach the vast majority of U.S. households, strengthens Walmart’s value proposition in convenience and accessibility. This scale allows Walmart to deepen grocery engagement, attract and retain higher‑income customers who spend more on general merchandise, and build a more predictable, recurring revenue stream. In addition, he notes that the enlarged membership and traffic base support incremental profit pools such as Walmart Connect advertising and future initiatives in Agentic Commerce, reinforcing his positive stance on the stock.

In another report released on January 30, UBS also maintained a Buy rating on the stock with a $135.00 price target.

Based on the recent corporate insider activity of 231 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WMT in relation to earlier this year.