CPRT Price Prediction Next Week
Technical Analysis: Based on recent price action, CPRT has shown a bearish trend, falling below its key moving average. The stock is currently trading at $54.79, significantly below its 52-week high of $64.38.
News Sentiment and Fundamental Factors:
- Baird analyst raised price target from $62 to $64, maintaining Outperform rating following strong Q4 results
- The company reported positive Q4 results with revenue and earnings growth
- Average analyst target price stands at $64.83, suggesting an 11.36% upside potential
- The stock has underperformed the broader market, gaining only 15.7% compared to S&P 500's 21.8% over the past year
Price Prediction for Next Week: Based on technical indicators and recent news:
Target Prices:
- Support level: $54.00
- Resistance level: $58.22
- Expected trading range: $54.00 - $58.22
Recommendation: HOLD
- Current price shows weakness after breaking below key moving average
- However, positive analyst sentiment and strong fundamentals suggest limited downside
- Wait for confirmation of trend reversal before establishing new positions
- Short-term traders should watch $54.00 support level - breaking below could trigger further selling
Price Target: $56.50 by end of next week, representing a potential 3.12% increase from current levels, based on technical consolidation and positive fundamental backdrop.
CPRT Similar Chart Price Prediction
The price of CPRT is predicted to go up 1.04%, based on the high correlation periods with AMCR. The similarity of these two price pattern on the periods is 95.02%.
CPRT
AMCR
Up: 1.04%Similarity: 95.02%
CPRT Revenue Forecast
CPRT EPS Forecast
CPRT FAQs
What is CPRT revenue forecast for next quarter？
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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.
