CPRT Price Prediction Next Week
Based on the provided data and technical analysis, here's the price prediction for CPRT for the next trading week:
Technical Analysis
The stock is currently trading at $57.80, showing a slight upward momentum with RSI at 50.62, indicating a neutral position . Key Fibonacci levels show resistance at $57.72 (R1) and support at $55.53 (S1), with a pivot point at $56.63.
News Sentiment and Fundamental Outlook Recent news indicates positive momentum for CPRT:
- Strong earnings expectations with projected EPS of $0.38, representing 15.15% YoY growth
- Revenue forecast of $1.14 billion, showing 11.85% YoY growth
- Zacks Rank #2 (Buy) rating, indicating positive analyst sentiment
- Industry ranking in top 2% of all industries, suggesting strong sector performance
Price Prediction for Next Week Based on technical indicators and news sentiment:
- Bullish Target: $58.40 (Fibonacci R2)
- Bearish Target: $55.53 (Fibonacci S1)
- Most Likely Scenario: $57.70-$58.40
Trading Recommendation BUY with entry point at current levels ($57.80) with following strategy:
- Entry: $57.80
- Stop Loss: $55.53 (S1 support)
- Take Profit: $58.40 (R2 resistance)
The stock shows strong fundamentals and positive industry positioning, suggesting potential upside movement. The technical setup indicates a bullish bias within the defined range, supported by positive earnings expectations and industry performance.
CPRT Similar Chart Price Prediction
The price of CPRT is predicted to go up -6.35%, based on the high correlation periods with SJW. The similarity of these two price pattern on the periods is 98.02%.
CPRT
SJW
Down: -6.35%Similarity: 98.02%
CPRT Revenue Forecast
CPRT EPS Forecast
CPRT FAQs
What is revenue forecast for next quarter？
What is eps forecast for next quarter？
CPRT VS S&P500
We see Copart's wide moat as safe given minimal competition and an excellent ability to provide a high liquidity marketplace for buyers and sellers.
Copart's balance sheet looks to be in great shape and we expect buybacks as well as acquisitions-the latter is more likely-to help fuel stock price growth over time.
Copart's auction volumes should rise as used vehicle pricing caused by the chip shortage comes down while repair costs should remain high. These factors should encourage insurers to total more vehicles than in recent years after the pandemic and chip shortage.
CPRT Analyst's Forecast
Jash Patwa
JP Morgan
Hold
Price Target
$55 → $60
Upside
+6.16%
JPMorgan raised the firm's price target on Copart to $60 from $55 and keeps a Neutral rating on the shares post the fiscal Q1 report. The firm says affordability headwinds continue to weigh on claims volume, which is more than than offset by rising total loss frequency and fee hikes.