Oppenheimer analyst Brian Bittner maintained an Outperform rating on Domino's Pizza and lowered the price target to $415 from $465. This adjustment adds to a mixed landscape of analyst targets ahead of the company's earnings release. Domino's Pizza, Inc. is scheduled to release its second quarter earnings report before the opening bell on Monday, July 20. Analysts expect the Ann Arbor, Michigan-based company to report quarterly earnings of $4.17 per share, an increase from $3.81 per share in the year-ago period. The consensus estimate for revenue is $1.18 billion, compared to $1.15 billion reported last year.

Evercore ISI Group analyst David Palmer maintained an Outperform rating on Domino's Pizza and raised the price target to $375 from $350. This contrasts with recent target reductions by other firms. RBC Capital analyst Logan Reich maintained a Sector Perform rating on Domino's Pizza and raised the price target to $350 from $325.

Deutsche Bank analyst Lauren Silberman maintained a Buy rating but reduced the price target from $435 to $385 on July 9, 2026. Silberman has an accuracy rate of 72%. BTIG analyst Peter Saleh reiterated a Buy rating on Domino's Pizza with a price target of $425.

Citigroup analyst Jon Tower maintained a Neutral rating and lowered the price target from $365 to $335 on July 7, 2026, with an accuracy rate of 67%. UBS analyst Dennis Geiger maintained a Buy rating and cut the price target from $425 to $375 on July 2, 2026, with an accuracy rate of 55%. Baird analyst David Tarantino maintained an Outperform rating and cut the price target from $400 to $350 on June 23, 2026, with an accuracy rate of 66%.

On July 14, Domino's announced the appointment of two new independent directors and the election of Corie Barry as lead independent director. Shares of Domino's rose 0.3% to close at $310.87 on Wednesday.

Analyst Ratings Summary

Domino's Pizza Inc reported second-quarter revenue of $1.194 billion, exceeding analyst estimates of $1.18 billion, while adjusted earnings per share of $4.07 missed the consensus estimate of $4.20. Revenue increased 4.3% year over year, driven by higher supply chain sales, global franchise royalties, and advertising revenue. Operating income rose 3.1% to $232 million, supported by higher U.S. and international franchise royalties and fees, along with improved supply chain margins. Despite the earnings miss, Chief Executive Officer Russell Weiner stated that his conviction in the company's long-term growth potential remains "as strong as ever" after the company delivered order growth in both delivery and carryout businesses.

Growth in the supply chain business helped offset softer restaurant demand as consumers remained cautious about discretionary spending. Global retail sales, excluding foreign currency impacts, increased 3.0% on a currency-neutral basis. U.S. retail sales rose 1.9%, while international retail sales increased 4.1%. U.S. and international same-store sales were both essentially flat from a year earlier. Gross margin declined to 40.0% from 40.3% a year ago, though supply chain gross margin improved by 20 basis points to 12.0% due to procurement productivity.

During a conference call, the Chief Financial Officer noted that the business continued to be impacted by a challenging macro environment, pressuring consumers and heightened competition. The CFO stated that the company continues to expect FY26 U.S. and international comparable sales to be up low single digits.

Following the earnings announcement, several analysts revised their price targets. TD Cowen analyst Andrew M. Charles maintained the stock with a Hold and raised the price target from $295 to $310. BMO Capital analyst Andrew Strelzik maintained the stock with an Outperform rating and cut the price target from $450 to $420. Evercore ISI Group analyst David Palmer maintained the stock with an Outperform rating and raised the price target from $350 to $375. BTIG analyst Peter Saleh reiterated a Buy rating and price target of $425.

Analysts noted that the second quarter may represent a trough for the year, with expectations for same-store sales to remain flat in the third quarter. Factors expected to aid performance include the return of the $9.99 Best Deal Ever, the World Cup, and new menu innovation such as S'mores Lava Cakes. Management’s 2026 guidance of U.S. same-store sales of low-single digits implies positive comps in the back half of the year, though analysts cautioned that returning to 1%-2% comps is not spectacular.

Domino's opened a net 209 stores during the quarter, including 26 in the United States and 183 internationally. The company ended the quarter with $164.8 million in cash and cash equivalents. Domino's declared a quarterly dividend of $1.99 per share, payable on Sept. 30, 2026, to shareholders of record on Sept. 15, 2026. During the quarter, the company repurchased 443,917 shares for $156.2 million. Year to date, it has repurchased 632,221 shares for $231.3 million, with $1.23 billion remaining under its share repurchase authorization.

Financial Results