Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index quotes are real-time. To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research. Ferrari is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
- The company issued revenue guidance of $5.22 billion-$5.22 billion, compared to the consensus revenue estimate of $4.80 billion.
- I conduct due diligence for clients across multiple sectors.
- But before you make this decision, take a look at whether its fundamentals have changed.
- JPMorgan Chase & Co. grew its stake in shares of Ferrari by 34.4% in the fourth quarter.
Common shares of Ferrari are listed and can be traded under the ticker RACE on both the NYSE and Euronext Milan (previously DotBig named Mercato Telematico Azionario, “MTA”). For more information please see the “Stock Info” section.
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Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $237.00. Sanford C. Bernstein started coverage on Ferrari in a research report on Tuesday, July 19th. Kepler Capital Markets raised Ferrari to a “hold” rating and set a $185.00 target price on the stock in a report on Friday, July https://corporatefinanceinstitute.com/resources/careers/companies/top-banks-in-the-usa/ 8th. Exane BNP Paribas raised Ferrari from a “neutral” rating to an “outperform” rating and set a €255.00 ($262.89) target price on the stock in a report on Tuesday, April 12th. Credit Suisse Group reaffirmed a “buy” rating and set a $285.00 target price on shares of Ferrari in a report on Friday, June 10th. Finally, Jefferies Financial Group raised Ferrari from an “underperform” rating to a “hold” rating and set a $180.00 target price on the stock in a report on Monday, July 4th.
Thus, I see more than 35% downside for the stock before the risk/reward becomes balanced. At the center of everything we do is a strong commitment to independent research and https://dotbig.com/ sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system.
I/we have a beneficial long position in the shares of RACE either through stock ownership, options, or other derivatives. With the previous words in mind, I am quite optimistic about the new hybrid engines included in the new SF90 Stradale and SF90 Spider. Besides, the new electric engine technology that RACE is preparing could dramatically change the driving experience. In Q3 2021, the total number of shipments increased by 18.9% q/q.
Ferrari Races To A Record Profit The Rich Havent Stopped Buying Luxury Cars
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Ferrari in the fourth quarter worth about $374,511,000. JPMorgan Chase & Co. grew its stake in shares of Ferrari by 34.4% in the fourth quarter. JPMorgan Chase & Co. now owns 1,059,847 shares of the company’s stock worth $274,308,000 after purchasing RACE stock price today an additional 271,513 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Ferrari in the fourth quarter worth about $51,882,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Ferrari in the first quarter worth about $37,283,000. Finally, Acadian Asset Management LLC grew its stake in shares of Ferrari by 19,901.7% in the fourth quarter.
Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least RACE stock 15 minutes or per exchange requirements. Real-time analyst ratings, insider transactions, earnings data, and more.
Ferrari Marketrank Forecast
I’ve used the price-to-earnings ratio in this instance because there’s not enough visibility to forecast its cash flows. The stock’s ratio of 42.04x is currently well-above the industry average of 8.75x, meaning that it is trading at a more expensive price relative to its peers. Another thing to keep in mind is that Ferrari’s share price is quite stable relative to the rest of the market, as indicated by its low beta. With RACE launching many new models from 2022 in addition to designing more electric vehicles, I would expect revenue growth to increase.
The price has surpassed its industry peers, which means it is likely that there is no more upside from mispricing. However, the positive outlook is encouraging for RACE, which means it’s worth diving deeper into http://dotbig.com/markets/stocks/RACE/ other factors in order to take advantage of the next price drop. We want to help you protect and grow your wealth despite any volatile market conditions… This is why we’re so bullish on these 4 companies.
Acadian Asset Management LLC now owns 130,811 shares of the company’s stock worth $33,835,000 after purchasing an additional 130,157 shares during the last quarter. Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hyper cars; one-off and track cars; and Icona cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars. As of December 31, 2021, it had a total of 30 retail Ferrari stores, including 14 franchised stores and 16 owned stores. The company also sells its products through a network of 172 authorized dealers operating 191 points of sale worldwide, as well as through its website, store.ferrari.com. Was founded in 1947 and is headquartered in Maranello, Italy.
RACE has been the topic of several recent analyst reports. Credit Suisse Group reissued a “buy” rating and issued a $285.00 target price on shares of Ferrari in a research note on Friday, June 10th. StockNews.com cut Ferrari from a “buy” rating to a “hold” rating in a research note on Wednesday. Jefferies Financial Group upgraded shares of Ferrari from an “underperform” rating to a “hold” rating and set a $180.00 price objective for the company in a report on Monday, July 4th. BNP Paribas upgraded shares of Ferrari from a “neutral” rating to an “outperform” rating and set a $255.00 price objective for the company in a report on Tuesday, April 12th. Finally, Exane BNP Paribas upgraded shares of Ferrari from a “neutral” rating to an “outperform” rating and set a €255.00 ($262.89) price objective for the company in a report on Tuesday, April 12th.
May 4, 2021 Good earnings were overshadowed by some disappointing guidance. Ferrari CEO Steps Down Eric Volkman