CPRT Price Prediction Next Week
CPRT Stock Price Prediction and Recommendation
Technical Analysis:
Price Trend: CPRT is currently trading near the lower end of its 52-week range, with a last trade price of $54.79. The stock has recently crossed below its 200-day moving average, a bearish signal.
Key Indicators:
- RSI (14): 40.94 (below 50, indicating bearish momentum).
- MACD: -1.02 (negative, suggesting downward momentum).
- Stochastic Oscillator: 42.20 (in oversold territory, but not yet showing a bullish crossover).
- Fibonacci Levels: Pivot at $53.17, with resistance at $54.09 and support at $52.25.
News Sentiment and Fundamental Analysis:
- Growth Potential: CPRT has a high growth rating of 92% based on Martin Zweig's model, indicating strong growth potential with reasonable valuations and low debt.
- Recent Performance: Despite strong Q2 earnings with a 14% revenue increase, the stock has declined 18% from its all-time high, suggesting investor concerns about valuations or operating margins.
Price Prediction:
Based on the technical indicators and Fibonacci levels, CPRT is expected to trade between $52.25 and $54.09 next week. The bearish crossover in moving averages and RSI below 50 suggest continued selling pressure, with potential short-term support at $52.25.
Recommendation:
Sell CPRT as the technical indicators and recent price action suggest continued downward pressure. Consider using put options for higher returns if comfortable with options trading.
CPRT Similar Chart Price Prediction
The price of CPRT is predicted to go up -9.22%, based on the high correlation periods with HELE. The similarity of these two price pattern on the periods is 97.92%.
CPRT
HELE
Down: -9.22%Similarity: 97.92%
CPRT Revenue Forecast
CPRT EPS Forecast
CPRT FAQs
What is CPRT revenue forecast for next quarter？
What is CPRT 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
2024-11-19
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.
