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Canoo Inc. (GOEV) closed the most recent trading day at $0.96, moving +0.5% from the previous trading session. This change outpaced the S&P 500's 0.05% loss on the day. Meanwhile, the Dow experienced a drop of 0.02%, and the technology-dominated Nasdaq saw an increase of 0.18%.
Heading into today, shares of the company had lost 2.87% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 8.62% and lagging the S&P 500's gain of 2.76% in that time.
The upcoming earnings release of Canoo Inc. will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$0.90, reflecting a 44.1% increase from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$3.75 per share and a revenue of $22.32 million, signifying shifts of +61.46% and +2419.22%, respectively, from the last year.
Any recent changes to analyst estimates for Canoo Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Canoo Inc. presently features a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 186, putting it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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Canoo Inc. (GOEV) : Free Stock Analysis Report