Retail giant Walmart (NYSE:WMT) is expanding its drone delivery services in the U.S. The company aims to cover up to 1.8 million additional families in the Dallas, Fort Worth, metroplex region.
This expansion will encompass more than 30 towns and municipalities, marking the first instance of a retailer offering drone deliveries at this scale in a single market. Walmart’s move complements other delivery methods, including Express delivery, Late-Night Delivery, and InHome services.
Drones are particularly effective for speedy deliveries over short distances in populous areas. With about 4,700 stores situated within 10 miles of nearly 90% of the U.S. population, Walmart seems to be strategically positioned to rapidly scale up aerial deliveries. The company has nearly 10,500 stores and online shopping portals spread across 19 countries.
Is Walmart a Good Stock to Buy Now?
Separately, Walmart is slated to report its fourth-quarter results on February 20. Analysts expect the company to post an EPS of $1.63 on revenue of $170.26 billion for the quarter. Overall, the Street has a Strong Buy consensus rating on Walmart. Shares of the company have gained over 6% in the past month, and the average WMT price target of $179.75 implies a further 12.8% potential upside in the stock.
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