S&P 500 Companies Set to Report Next Week Are Riding a Wave of Momentum

More than a dozen S&P 500 companies are heading into next week’s earnings reports with impressive momentum an encouraging sign that could signal further upside for their stocks.

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The third-quarter earnings season, which kicked off in early October, has been shaping up as one of the strongest in recent memory. According to FactSet, companies in the S&P 500 are on track to post aggregate earnings growth of more than 13% for the period ending September 30. That would mark the fourth straight quarter of profit expansion, reinforcing the resilience of corporate America despite economic uncertainty.

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To identify the biggest potential winners, 15 stocks in the S&P 500 that show strong earnings momentum heading into next week’s results. The criteria were straightforward yet telling:

• Earnings-per-share (EPS) estimates have increased by at least 20% over the past three and six months.
• Stocks have 15% or more upside to the consensus 12-month price target among Wall Street analysts.

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Here’s a closer look at a few standout names from the list:

Alphabet (GOOGL)

Google’s parent company is expected to post third-quarter earnings of $2.28 per share, according to the latest estimates. Analysts collectively see Alphabet’s stock reaching $252 over the next 12 months, implying roughly 18% upside, per LSEG data.

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Those expectations have climbed sharply in recent months. The current EPS estimate is 71% higher than projections from three months ago and 112% above where it stood six months earlier. That optimism has been mirrored in the stock’s performance: Alphabet shares have soared 33% over the past three months and 63% over the past six months. With ongoing strength in digital advertising and AI initiatives, many investors see the company’s momentum as far from over.

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Visa (V)

The global payments powerhouse is forecast to have earned $2.97 per share in the third quarter, with analysts assigning a consensus 12-month price target of $393 about 16% above current levels, per LSEG.

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Analyst sentiment toward Visa has improved significantly. The latest EPS forecast is 41% higher than the $2.11 per share estimate from three months ago and nearly 50% greater than the $1.98 projection from six months back.

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Despite its strong fundamentals, Visa has lagged broader market returns in recent quarters. The stock has slipped 3% in the past three months and gained less than 10% year-to-date, underperforming many of its large-cap peers. However, improving analyst forecasts and resilient spending trends could help reignite the stock’s performance as consumer payments continue to rebound globally.

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Cigna Group (CI)

The health insurance giant is projected to post third-quarter earnings of $7.64 per share, according to consensus estimates. Wall Street’s average price target of $361 implies an impressive 32% upside from current levels, based on LSEG data.

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Cigna’s growth outlook has strengthened meaningfully in recent months. The latest earnings forecast represents a 27% jump from the $6.04 estimate three months ago and a 45% gain from April’s $5.27 projection.

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While the stock has trailed the S&P 500 over the past three and six months and remains behind for 2025 it has recently begun to regain traction. Over the past month, Cigna shares have climbed 5.2%, outpacing the S&P 500’s 1.2% rise. This turnaround suggests growing investor confidence in the company’s long-term growth potential, particularly as demand for health coverage and pharmacy benefits continues to expand.

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Earnings Season Outlook

The broader earnings picture remains encouraging. With profit growth now spanning four consecutive quarters, investors appear increasingly confident that corporate earnings can withstand higher interest rates and lingering inflation pressures. Companies showing accelerating profit trends especially those with upward earnings revisions like Alphabet, Visa, and Cigna are likely to capture more attention from both institutional and retail investors.

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As next week’s reports roll in, analysts will be watching for confirmation that these positive trends can continue into the final quarter of the year. If companies deliver on expectations or even modestly surpass them it could help sustain the market’s bullish tone heading into the final stretch of 2025.

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For now, the momentum behind these S&P 500 names offers a clear signal: earnings growth remains one of the most powerful drivers of stock performance, and investors are positioning accordingly.

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