Topgolf Callaway Brands (NYSE:CALY) Given New $19.00 Price Target at The Goldman Sachs Group

Key Points

• Goldman Sachs raised Topgolf Callaway Brands’ price target to $19 from $17 but maintained a neutral rating, implying about 0.83% downside from the stock’s $19.16 price. The broader analyst consensus is “Moderate Buy” with a $20.00 target.
• The company beat quarterly earnings expectations, reporting $0.39 in EPS versus the $0.35 consensus estimate on $612.2 million in revenue. However, revenue declined 44.9% year over year, and net margin remained low at 1.05%.
• Shares traded near their 12-month high of $20.28, while analysts cited mixed outlook factors: KeyCorp raised its target to $22, but full-year revenue guidance of $2.0 billion-$2.1 billion is slightly below the $2.1 billion consensus estimate.

Topgolf Callaway Brands (NYSE:CALY - Get Free Report) had its price target raised by stock analysts at The Goldman Sachs Group from $17.00 to $19.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. The Goldman Sachs Group's price target indicates a potential downside of 0.83% from the company's current price.

CALY has been the subject of several other reports. Wall Street Zen upgraded shares of Topgolf Callaway Brands from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. Zacks Research upgraded shares of Topgolf Callaway Brands from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 7th. KeyCorp boosted their price target on Topgolf Callaway Brands from $19.00 to $22.00 and gave the stock an "overweight" rating in a research report on Wednesday. Truist Financial raised their price objective on Topgolf Callaway Brands to $19.00 and gave the company a "buy" rating in a research report on Monday, June 15th. Finally, UBS Group lifted their price objective on Topgolf Callaway Brands from $15.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $20.00.

Topgolf Callaway Brands Stock Performance

Shares of CALY traded down $0.41 on Wednesday, reaching $19.16. The stock had a trading volume of 2,012,534 shares, compared to its average volume of 2,748,439. The company has a quick ratio of 1.44, a current ratio of 2.28 and a debt-to-equity ratio of 0.07. Topgolf Callaway Brands has a 12-month low of $8.00 and a 12-month high of $20.28. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 136.94 and a beta of 0.93. The company's 50-day moving average price is $17.72.

Topgolf Callaway Brands (NYSE:CALY - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.04. The company had revenue of $612.20 million for the quarter. Topgolf Callaway Brands had a return on equity of 4.44% and a net margin of 1.05%.The firm's revenue for the quarter was down 44.9% compared to the same quarter last year. On average, analysts expect that Topgolf Callaway Brands will post 0.75 EPS for the current fiscal year.

Topgolf Callaway Brands News Roundup

Here are the key news stories impacting Topgolf Callaway Brands this week:

• Positive Sentiment: KeyCorp raised its price target to $22 from $19 and initiated an “overweight” rating, implying additional upside and signaling confidence in the company’s outlook. Benzinga article
• Positive Sentiment: Second-quarter adjusted earnings were $0.39 per share, beating the $0.35 consensus estimate and rising from $0.24 a year earlier. The company also reported a 67% increase in GAAP net income from continuing operations and a 36% gain in adjusted EBITDA. Callaway Golf Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Callaway said second-quarter net sales increased 2%, while gross margins expanded sharply—GAAP margin rose 620 basis points and non-GAAP margin improved 460 basis points. The company also repurchased $84 million of shares through June, supporting per-share value. Callaway Golf Second Quarter 2026 Results
• Positive Sentiment: Management’s discussion of renewed progress as a golf-focused “pure-play” may reinforce expectations that the streamlined business can improve execution and profitability. Callaway Golf CEO Discusses Renewed Progress
• Neutral Sentiment: Other brokerages set an average price target of $18.25, below the stock’s recent trading level, suggesting analyst views remain mixed despite KeyCorp’s upgrade. Brokerages Set CALY Price Target
• Negative Sentiment: Full-year revenue guidance of $2.0 billion to $2.1 billion is modestly below the $2.1 billion consensus estimate. Third-quarter guidance of $415 million to $435 million also brackets a consensus forecast of $429.4 million, indicating limited near-term revenue upside. Callaway Golf Second Quarter 2026 Results

About Topgolf Callaway Brands

Topgolf Callaway Brands plc NYSE: MODG is a leading global sports and entertainment company formed through the merger of Callaway Golf Company and Topgolf Entertainment Group in July 2022. The company combines Callaway’s heritage in golf equipment design and manufacturing with Topgolf’s innovative, technology-driven entertainment venues. Topgolf Callaway Brands serves a diverse audience of golf enthusiasts, casual players and social visitors, offering experiences that span both competitive sport and leisure activities.

Under the Callaway Golf brand, the company develops and markets a broad portfolio of premium golf clubs, balls, accessories and apparel.

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