Yahoo Finance Canoo Inc. (GOEV) Stock Moves -1.55%: What You Should Know
Canoo Inc. (GOEV) ended the recent trading session at $2.54, demonstrating a -1.55% swing from the preceding day's closing price. On the other hand, the Dow registered a gain of 0.44%, and the technology-centric Nasdaq decreased by 0.18%.
Heading into today, shares of the company had gained 6.61% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 1.08% and the S&P 500's loss of 0.22% in that time.
The investment community will be paying close attention to the earnings performance of Canoo Inc. in its upcoming release. The company is slated to reveal its earnings on May 14, 2024. The company is predicted to post an EPS of -$0.86, indicating a 78.01% growth compared to the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$3.09 per share and a revenue of $69.31 million, demonstrating changes of +68.24% and +7722.32%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Canoo Inc. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Canoo Inc. holds a Zacks Rank of #1 (Strong Buy).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 63, this industry ranks in the top 25% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Canoo Inc. (GOEV) : Free Stock Analysis Report
