FDX Stock Surges 21% With A 10-day Winning Spree On Record Earnings
FedEx (FDX) – a global provider of express and ground transportation services – hit a 10-day winning streak, with cumulative gains over this period amounting to 21%. The company’s market cap has surged by about $15 Bil over the last 10 days and currently stands at $87 Bil.
The stock has YTD (year-to-date) return of 27.8% compared to 1.3% for S&P 500. This calls for a re-evaluation of the stock’s valuation to find out whether this is an opportunity or a trap.
What Triggered The Rally?
[1] Q2 2026 Earnings Beat and Raised Outlook
- Stress Testing FDX: Historical Drawdowns and Macro Risks
- FedEx Stock Surged 60%, Here’s Why
- What’s Next For FedEx Stock After An Upbeat Quarter?
- How To Trade FedEx Stock Ahead of Its Upcoming Earnings?
- FDX Down 10% In A Week. How Confident Are You In The Stock?
- FDX Stock Down -5.4% after 7-Day Loss Streak
- Adjusted EPS of $4.82 surpassed estimates by $0.80.
- Revenue of $23.47 billion beat expectations
- Impact: Significant stock price increase, Positive analyst commentary
[2] Multiple Analyst Upgrades and Price Target Hikes
- Wells Fargo upgraded to Overweight with a $380 target.
- UBS raised its price target to $412.
- Impact: Sustained positive price momentum, Increased institutional buying
Opportunity or Trap?
Below is our take on valuation.
There are several things to fear in FDX stock given its overall Weak operating performance and financial condition. This isn’t appropriately reflected in the stock’s Moderate valuation which is why we think it is Unattractive (For details, see Buy or Sell FDX).
But here is the real interesting point.
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Returns vs S&P 500
The following table summarizes the return for FDX stock vs. the S&P 500 index over different periods, including the current streak:
| Return Period | FDX | S&P 500 |
|---|---|---|
| 1D | 1.4% | 2.0% |
| 10D (Current Streak) | 21.4% | 0.2% |
| 1M (21D) | 20.1% | 0.2% |
| 3M (63D) | 44.9% | 2.0% |
| YTD 2026 | 27.8% | 1.3% |
| 2025 | 5.1% | 16.4% |
| 2024 | 13.5% | 23.3% |
| 2023 | 49.1% | 24.2% |
However, big gains can follow sharp reversals – but how has FDX behaved after prior drops? See FDX Dip Buyer Analysis to learn more.
Gains and Losses Streaks: S&P 500 Constituents
There are currently 88 S&P constituents with 3 days or more of consecutive gains and 18 constituents with 3 days or more of consecutive losses.
| Consecutive Days | # of Gainers | # of Losers |
|---|---|---|
| 3D | 34 | 3 |
| 4D | 19 | 8 |
| 5D | 13 | 5 |
| 6D | 7 | 2 |
| 7D or more | 15 | 0 |
| Total >=3 D | 88 | 18 |
Key Financials for FedEx (FDX)
Last 2 Fiscal Years:
| Metric | FY2024 | FY2025 |
|---|---|---|
| Revenues | $87.7 Bil | $87.9 Bil |
| Operating Income | $6.3 Bil | $6.0 Bil |
| Net Income | $4.3 Bil | $4.1 Bil |
Last 2 Fiscal Quarters:
| Metric | 2026 FQ1 | 2026 FQ2 |
|---|---|---|
| Revenues | $22.2 Bil | $23.5 Bil |
| Operating Income | $1.3 Bil | $1.6 Bil |
| Net Income | $824.0 Mil | $956.0 Mil |
While FDX stock looks attractive given its winning streak, investing in a single stock without detailed, thorough analysis can be risky. The Trefis High Quality (HQ) Portfolio, with a collection of 30 stocks, has a track record of comfortably outperforming its benchmark that includes all 3 — the S&P 500, S&P mid-cap, and Russell 2000 indices. Why is that? As a group, HQ Portfolio stocks provided better returns with less risk versus the benchmark index; less of a roller-coaster ride, as evident in HQ Portfolio performance metrics.