Is Boeing Stock Underperforming the Nasdaq?

With a market cap of $162.5 billion, The Boeing Company (BA) is a leading global aerospace company and one of the largest U.S. exporters, serving customers in more than 150 countries. The company develops, manufactures, and services commercial airplanes, defense products, and space systems. 

Companies worth more than $10 billion are generally labeled as “large-cap” stocks, and Boeing fits this criterion perfectly. Boeing’s global workforce and supplier network support innovation and economic growth, guided by its core values of safety, quality, and integrity.

Shares of the Arlington, Virginia-based company have declined 17.3% from its 52-week high of $254.35. Over the past three months, its shares have decreased 3.8%, a more pronounced decline than the broader Nasdaq Composite’s ($NASX) 3.5% dip during the same period.

BA stock is down 3.5% on a YTD basis, lagging behind NASX's 12.5% gain. Moreover, shares of the aerospace giant have fallen 11.7% over the past 52 weeks, compared to NASX’s 22.9% return over the same time frame.

The stock has been trading below its 50-day and 200-day moving averages since late August.

Boeing shares rose 4.8% on Jul. 28 as Q2 2026 revenue increased 8% to $24.56 billion, beating the estimate, and commercial aircraft deliveries jumped 14% to 171 planes. Cash flow also improved sharply, with operating cash flow reaching $1.4 billion and free cash flow turning positive at $631 million, while total backlog hit a record $715 billion, including more than 6,200 commercial aircraft.

Boeing further strengthened its recovery outlook by booking 173 aircraft orders at Farnborough, completing 737 MAX 7/10 certification flight testing, and maintaining its $1 billion - $3 billion full-year free cash flow target despite the $280 million Air Force One charge.

In comparison, BA stock has lagged behind its rival, Lockheed Martin Corporation (LMT). LMT stock has increased 10.1% on a YTD basis and 17.6% over the past 52 weeks.

Despite Boeing’s underperformance relative to the Nasdaq, analysts remain strongly optimistic about its prospects. BA stock has a consensus rating of “Strong Buy” from 28 analysts in coverage, and the mean price target of $272 is a premium of 29.6% to current levels.