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Canoo Inc. (GOEV) Outpaces Stock Market Gains: What You Should Know
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Canoo Inc. (GOEV - Free Report) closed at $2.83 in the latest trading session, marking a +1.43% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 0.91%. Meanwhile, the Dow gained 0.85%, and the Nasdaq, a tech-heavy index, added 1.51%.
Coming into today, shares of the company had gained 12.95% in the past month. In that same time, the Auto-Tires-Trucks sector lost 4.48%, while the S&P 500 lost 4.2%.
Market participants will be closely following the financial results of Canoo Inc. in its upcoming release. In that report, analysts expect Canoo Inc. to post earnings of -$0.86 per share. This would mark year-over-year growth of 78.01%.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$3.09 per share and a revenue of $69.31 million, indicating changes of +68.24% and +7722.32%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Canoo Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 68.05% rise in the Zacks Consensus EPS estimate. Canoo Inc. is currently a Zacks Rank #1 (Strong Buy).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow GOEV in the coming trading sessions, be sure to utilize Zacks.com.
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Canoo Inc. (GOEV) Outpaces Stock Market Gains: What You Should Know
Canoo Inc. (GOEV - Free Report) closed at $2.83 in the latest trading session, marking a +1.43% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 0.91%. Meanwhile, the Dow gained 0.85%, and the Nasdaq, a tech-heavy index, added 1.51%.
Coming into today, shares of the company had gained 12.95% in the past month. In that same time, the Auto-Tires-Trucks sector lost 4.48%, while the S&P 500 lost 4.2%.
Market participants will be closely following the financial results of Canoo Inc. in its upcoming release. In that report, analysts expect Canoo Inc. to post earnings of -$0.86 per share. This would mark year-over-year growth of 78.01%.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$3.09 per share and a revenue of $69.31 million, indicating changes of +68.24% and +7722.32%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Canoo Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 68.05% rise in the Zacks Consensus EPS estimate. Canoo Inc. is currently a Zacks Rank #1 (Strong Buy).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow GOEV in the coming trading sessions, be sure to utilize Zacks.com.