Trading Analysis Report: NYT
- Analysis date: 2026-05-31
- Processed decision: Buy
- Price Target: 88
I. Analyst Team Reports
Market Analyst
Market Report
The New York Times Company (NYT) closed at $75.21 on May 29, 2026. yfinance showed a 52-week range of $51.03-$87.10, a 50-day average of $79.78, and a 200-day average of $69.13.
The stock has been strong over the last year. Local yfinance history showed a +31.7% one-year price return and +7.7% YTD return.
Analyst targets still provide upside. yfinance showed a buy recommendation key, mean target of $84.89, median target of $88.00, high target of $95.00, and low target of $66.00.
Valuation is elevated but supported by growth and balance-sheet strength: trailing P/E was 32.28x, forward P/E 23.52x, EV/EBITDA 21.27x, and the company had no debt in the yfinance snapshot.
Market read: NYT has strong fundamentals and moderate target upside. Assign Buy with an $88 target.
Sentiment Analyst
Sentiment Report
Sentiment toward NYT should be constructive after Q1 2026.
The official Q1 release showed digital-only subscription revenue grew 16.1% year over year, and the company added approximately 310,000 net digital-only subscribers compared with Q4 2025.
Total subscribers reached 13.08 million, while digital-only ARPU increased 2.4% year over year to $9.77.
Digital advertising revenue increased 31.6% year over year, and adjusted operating profit increased 27.2% to $117.9 million.
Sentiment read: the subscription and advertising flywheel remains strong, supporting Buy despite a premium valuation.
News Analyst
News Report
The key current sources are the May 6, 2026 Q1 results release and Q1 2026 Form 10-Q.
NYT reported Q1 2026 total revenues of $712.2 million, diluted EPS of $0.54, and adjusted diluted EPS of $0.61.
Operating profit increased 54.5% year over year to $90.6 million, while adjusted operating profit increased 27.2% year over year to $117.9 million.
Subscriber metrics were strong. Total subscribers were 13.08 million, including approximately 12.52 million digital-only subscribers.
News read: the quarter supports a Buy rating because subscriber additions, ARPU, advertising, and margin all moved in the right direction.
Fundamentals Analyst
Fundamentals Report
NYT has high-quality fundamentals: recurring digital subscription revenue, advertising leverage, free cash flow, and no debt.
yfinance showed total revenue of $2.874 billion, EBITDA of $544.3 million, operating cash flow of $577.6 million, free cash flow of $396.8 million, cash of $594.5 million, and total debt of $0.
The official Q1 release showed digital-only subscription revenue up 16.1%, digital advertising revenue up 31.6%, and adjusted operating profit up 27.2%.
Valuation is the main constraint. yfinance showed 23.52x forward earnings and 21.27x EV/EBITDA, which leaves less room for disappointment.
Fundamental read: Buy is justified by growth and balance-sheet quality, but the target should stay near the $88 median analyst target.
II. Research Team Decision
Bull Researcher
Bull Research
The bull case is that NYT is one of the strongest subscription-media businesses in public markets.
Q1 digital-only subscription revenue grew 16.1%, digital advertising revenue grew 31.6%, and adjusted operating profit grew 27.2%.
The company added approximately 310,000 net digital-only subscribers in the quarter and reached 13.08 million total subscribers.
yfinance showed $396.8 million of free cash flow, $594.5 million of cash, and no debt.
Bull conclusion: NYT can continue compounding if subscriber growth, ARPU, and advertising demand remain strong.
Bear Researcher
Bear Research
The bear case is valuation and expectations.
NYT has already gained 31.7% over the local one-year yfinance period, and valuation is premium at 23.52x forward earnings and 21.27x EV/EBITDA.
Operating costs increased 7.7% year over year, and adjusted operating costs increased 9.4%, partly due to higher compensation and journalism-related costs.
The business also faces AI/search distribution uncertainty, advertising cyclicality, subscriber churn risk, and competition for consumer attention.
Bear conclusion: Buy is appropriate, but the target should be disciplined at $88 rather than the $95 high target.
Research Manager
Research Manager Synthesis
The bull case is digital subscriber growth, ARPU growth, digital advertising growth, margin expansion, free cash flow, and a debt-free balance sheet.
The bear case is premium valuation, strong prior stock performance, cost growth, and distribution/AI risk.
The correct conclusion is Buy. An $88 target matches the yfinance median analyst target and balances growth with valuation risk.
Synthesis: assign Buy with an $88 target.
III. Trading Team Plan
Trader
Trader View
NYT is a quality growth stock that has pulled back from its highs but remains above the 200-day average.
The stock is below the $79.78 50-day average but above the $69.13 200-day average. A move back above the 50-day average would improve momentum.
Upside trigger: continued subscriber additions, ARPU growth, digital advertising strength, and operating leverage.
Downside trigger: a break below the 200-day average, weaker subscriber trends, or advertising softness.
Trading plan: accumulate selectively with the $88 target as a 6-12 month objective.
IV. Risk Management Team Decision
Aggressive Analyst
Aggressive Risk View
Aggressive investors may buy NYT because the business has recurring subscription revenue and a strong digital growth profile.
The yfinance high target of $95 offers additional upside if growth remains above expectations.
The risk is that premium valuation compresses if growth slows.
Aggressive conclusion: Buy, but avoid assuming multiple expansion.
Conservative Analyst
Conservative Risk View
Conservative investors can view NYT as financially strong but valuation-sensitive.
The company has no debt in the yfinance snapshot, meaningful free cash flow, and a modest dividend payout ratio of 40.77%.
The concern is that media and advertising businesses can still be cyclical, and the stock is not cheap.
Conservative conclusion: Buy selectively, with valuation discipline.
Neutral Analyst
Neutral Risk View
The neutral view is that NYT has high-quality growth and a premium valuation.
The positives are subscriber growth, ARPU growth, digital ad growth, margin expansion, free cash flow, and no debt. The negatives are high multiples, strong prior stock performance, and cost/AI/search risks.
The $88 target balances those factors.
Neutral conclusion: Buy.
V. Portfolio Manager Decision
Portfolio Manager
Portfolio Manager Decision
Rating: Buy Price Target: 88
Horizon: 6-12 months Current Price Reference: $75.21 close on 2026-05-29
The New York Times Company is rated Buy. The Q1 2026 results showed broad digital strength: digital-only subscription revenue grew 16.1%, digital advertising revenue increased 31.6%, and adjusted operating profit increased 27.2% to $117.9 million.
The subscriber base continues to grow. NYT added approximately 310,000 net digital-only subscribers compared with Q4 2025, reaching 13.08 million total subscribers and approximately 12.52 million digital-only subscribers. Digital-only ARPU increased 2.4% to $9.77.
The financial profile is strong. yfinance showed $594.5 million of cash, $0 of debt, $577.6 million of operating cash flow, and $396.8 million of free cash flow.
The risk is valuation. yfinance showed 23.52x forward earnings and 21.27x EV/EBITDA after a 31.7% one-year price gain.
The $88 target matches the yfinance median analyst target. Buy is justified by growth and balance-sheet quality, but the target stays below the high target to account for valuation risk.