Copart, Inc. [CPRT] Stock trading around $49.41 per share: What’s Next?

Copart, Inc. [NASDAQ: CPRT] price surged by 1.06 percent to reach at $0.52. The company report on February 22, 2024 at 4:15 PM that Copart Reports Second Quarter Fiscal 2024 Financial Results.

Copart, Inc. (NASDAQ: CPRT) today reported financial results for the quarter ended January 31, 2024.

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For the three months ended January 31, 2024, revenue, gross profit, and net income attributable to Copart Inc. were $1.02 billion, $464.2 million, and $325.6 million, respectively. These represent an increase in revenue of $63.4 million, or 6.6%; an increase in gross profit of $37.7 million, or 8.8%; and an increase in net income attributable to Copart Inc. of $32.0 million, or 10.9%, respectively, from the same period last year. Fully diluted earnings per share for the three months were $0.33 compared to $0.30 last year, an increase of 10.0%.

The one-year CPRT stock forecast points to a potential upside of 10.75. The average equity rating for CPRT stock is currently 2.08, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Copart, Inc. [CPRT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CPRT shares is $55.36 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CPRT stock is a recommendation set at 2.08. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

HSBC Securities have made an estimate for Copart, Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on December 04, 2023. While these analysts kept the previous recommendation, Argus raised their target price to Buy. The new note on the price target was released on September 08, 2023, representing the official price target for Copart, Inc. stock. On February 12, 2021, analysts increased their price target for CPRT shares from 122 to 140.

The Average True Range (ATR) for Copart, Inc. is set at 0.87, with the Price to Sales ratio for CPRT stock in the period of the last 12 months amounting to 11.87. The Price to Book ratio for the last quarter was 7.40, with the Price to Cash per share for the same quarter was set at 2.74. Price to Free Cash Flow for CPRT in the course of the last twelve months was 52.62 with Quick ratio for the last quarter at 5.47.

CPRT Stock Performance Analysis:

Copart, Inc. [CPRT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.39. With this latest performance, CPRT shares dropped by -0.24% in over the last four-week period, additionally plugging by 12.83% over the last 6 months – not to mention a rise of 43.13% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CPRT stock in for the last two-week period is set at 51.49, with the RSI for the last a single of trading hit 50.62, and the three-weeks RSI is set at 52.12 for Copart, Inc. [CPRT]. The present Moving Average for the last 50 days of trading for this stock 48.79, while it was recorded at 49.10 for the last single week of trading, and 45.88 for the last 200 days.

Insight into Copart, Inc. Fundamentals:

Copart, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.47 and a Current Ratio set at 5.54.

CPRT Stock EPS

With the latest financial reports released by the company, Copart, Inc. posted 0.3/share EPS, while the average EPS was predicted by analysts to be reported at 0.29/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 3.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CPRT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Copart, Inc. go to 22.30%.

Copart, Inc. [CPRT] Institutonal Ownership Details

The top three institutional holders of CPRT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CPRT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CPRT stock with ownership which is approximately 5.8325%.