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The most recent trading session ended with Nikola (NKLA - Free Report) standing at $0.65, reflecting a +1.51% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily gain of 0.32%. Elsewhere, the Dow saw an upswing of 0.38%, while the tech-heavy Nasdaq appreciated by 0.35%.
Shares of the pioneer in zero-emission trucks have depreciated by 38.14% over the course of the past month, underperforming the Auto-Tires-Trucks sector's loss of 7.23% and the S&P 500's loss of 2%.
The investment community will be paying close attention to the earnings performance of Nikola in its upcoming release. The company is slated to reveal its earnings on May 7, 2024. The company is expected to report EPS of -$0.09, up 65.38% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $19.68 million, showing a 76.95% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.42 per share and a revenue of $192.43 million, signifying shifts of +46.84% and +430.41%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Nikola. 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Nikola possesses a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 84, this industry ranks in the top 34% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Why Nikola (NKLA) Outpaced the Stock Market Today
The most recent trading session ended with Nikola (NKLA - Free Report) standing at $0.65, reflecting a +1.51% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily gain of 0.32%. Elsewhere, the Dow saw an upswing of 0.38%, while the tech-heavy Nasdaq appreciated by 0.35%.
Shares of the pioneer in zero-emission trucks have depreciated by 38.14% over the course of the past month, underperforming the Auto-Tires-Trucks sector's loss of 7.23% and the S&P 500's loss of 2%.
The investment community will be paying close attention to the earnings performance of Nikola in its upcoming release. The company is slated to reveal its earnings on May 7, 2024. The company is expected to report EPS of -$0.09, up 65.38% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $19.68 million, showing a 76.95% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.42 per share and a revenue of $192.43 million, signifying shifts of +46.84% and +430.41%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Nikola. 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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Nikola possesses a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 84, this industry ranks in the top 34% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.