Target’s (TGT) stock is up a solid 9.2% in April as investors bet on a long-awaited turnaround taking shape.
But the move papers over a reality that investors may be forgetting: It’s going to be hard to outrun the company’s recent checkered past in pursuit of brighter days financially.
What some new data says: Goldman Sachs analyst Kate McShane has a new note looking at how consumers perceive Target. Consumer perceptions of retailers are often gauged through net promoter scores (NPS).
As McShane details in the chart below, “We looked at Net Promoter Scores and Net Purchase Intent (NPI) for Target on a trailing 3-month basis. For both metrics, Target reached a 2025 low in early May (-13.0% for NPI, 20.9 for NPS), which was followed by sequential improvement, trends flattening in the latter half of the year, and is now declining year to date.”
“As of the week beginning 4/12/26, Target’s NPI was at -9.4% and its NPS was at 24.5, an improvement from the lows in mid-2025 but a sequential decline from December levels (-7.0% NPI and 27.3 NPS),” McShane added. “That said, we note sequential improvement in both metrics for the most recent week.”
The read-through: A low net promoter score is more than a byproduct of unhappy customers. It’s a flashing red light signaling other operational challenges, according to retail consultancy Zipline.
Poor execution, inconsistent customer experiences, and inefficiencies all contribute to a weak NPS. If this is left unchecked, a retailer could see fewer repeat purchases and visits.
Read more: Best credit cards for shopping at Target (April 2026)
Target’s recent past at a glance: Target has no doubt been hurt by the perception that it’s a more expensive place to shop than Walmart (WMT). This has been shown consistently in quarterly results comparisons between the two retail giants.
But in recent years, Target has also become a figure in the culture wars, facing intense backlash from both ends of the political spectrum. This has weighed on performance.
In 2023, conservative consumers launched a boycott of the retailer’s Pride Month collection, specifically targeting children’s merchandise and “tuck-friendly” swimsuits for adults. The outcry grew so volatile that Target moved displays to the back of stores or removed them entirely, citing employee safety.
However, this pivot backfired, upsetting LGBTQ+ advocates and liberal shoppers who accused the brand of “rainbow-washing” and failing to stand by its values under pressure.
