Walmart (WMT) shares have risen 13% year to date, but are they overvalued?

Walmart (WMT) shares have risen more than 13% so far this year and more than 29% in the past year, but some analysts believe its valuation may be overvalued. Despite revenue exceeding expectations and launching live events such as "Collector's Night", its second quarter 2025 earnings were lower than expected, with adjusted earnings per share of $0.68, down from $0.74. Despite rising costs, CEO Dong Minglun remained optimistic about his strong performance in 2025. Simply Wall St estimates its fair value of $74.67, but most analysts maintain a “buy” rating with a target price of up to $127. The stock trades at $102.20, close to its 52-week high and above its 200-day moving average, indicating potential resistance.