KMX Price Prediction Next Week
Based on the available data and recent market developments, here's a comprehensive analysis for KMX's price prediction for the next trading week:
Technical Analysis
The technical indicators show:
- RSI(14) at 56.21 indicates neutral momentum
- MACD at 1.06 suggests positive momentum
- Current price ($85.25) is trading above both SMA-20 ($82.53) and SMA-200 ($77.32), indicating a bullish trend
Recent Price Catalysts
Several significant developments support a bullish outlook:
- Evercore ISI's upgrade:
- Upgraded to Outperform from In Line
- Price target raised to $110 from $90
- Cited improving comp and share trends
- Favorable industry backdrop with widening used vs new car price gap
- Needham's positive view:
- Price target raised to $101 from $98
- Maintains Buy rating
- Expects continuation of positive second-half dynamics
- Projects industry unit gains and improved auto loan performance
Price Target Analysis
Based on recent analyst targets and technical indicators:
| Timeframe | Target Price | Probability |
|---|---|---|
| Next Week Low | $83.30 | 65% |
| Next Week High | $89.42 | 70% |
| Resistance Level | $91.75 | 40% |
| Support Level | $81.85 | 75% |
Trading Recommendation
BUY with a target price range of $87-89 for next week based on:
- Strong technical setup with price above key moving averages
- Multiple analyst upgrades with higher price targets
- Favorable industry conditions
- Current price ($85.25) has room to grow toward analyst targets
Key risks to monitor:
- Overall market volatility
- Used car pricing trends
- Consumer financing conditions
KMX Similar Chart Price Prediction
The price of KMX is predicted to go up -12.28%, based on the high correlation periods with DOUG. The similarity of these two price pattern on the periods is 95.37%.
KMX
DOUG
Down: -12.28%Similarity: 95.37%
KMX Revenue Forecast
KMX EPS Forecast
KMX FAQs
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KMX VS S&P500
CarMax has increased revenue and profitability at a remarkable rate, and we think it is positioned to gain market share in any environment. Omnichannel helps this story, as it lets consumer have maximum flexibility in their experience.
We expect continued US market share and revenue growth long term.
No competitors have successfully duplicated CarMax's business model to the same degree, providing the company with a considerable head start on would-be imitators.
KMX Analyst's Forecast
Rajat Gupta
JP Morgan
Sell
2024-12-20
Price Target
$70 → $72
Downside
-14.56%
JPMorgan analyst Rajat Gupta raised the firm's price target on CarMax to $72 from $70 and keeps an Underweight rating on the shares post the fiscal Q3 report. The firm We come away from the results with no change to its view that the relative risk/reward on CarMax shares remains unattractive at current levels. However, the company's execution was better than expected in Q3, with CarMax participating in the broader industry recovery, coupled with tight control, the analyst tells investors in a research note.
Scot Ciccarelli
Truist Securities
Hold
2024-12-20
Price Target
$72 → $88
Upside
+4.43%
Steven Shemesh
RBC Capital
Buy
2024-12-20
Price Target
$99 → $103
Upside
+22.23%
