Ferrari (NYSE:RACE) Target Raised by JPMorgan Chase & Co. to $215.00

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Ferrari stock has undergone multiple analysts rating changes in the recent past.  Ferrari stock Target Raised by JPMorgan Chase & Co. on 10/21/2021. In a note to investors, the firm issued a new target price of $215.00. The analysts previously had $189.00 target price. JPMorgan Chase & Co.’s price target would indicate a potential upside of -3.60% from the stock’s previous close.

Shares of Ferrari traded up $0.68 on Wednesday, reaching $223.72. 24280 shares of the stock traded hands, compared to its average volume of 262032. On Wednesday, Shares of Ferrari closed at $223.72. The firm’s 50 day moving average is $217.13 and its 200 day moving average is $209.66.Ferrari  has a 12 month low of $176.29 and a 12 month high of $233.66. While on yearly highs and lows, Ferrari today has traded high as $224.32 and has touched $223.68 on the downward trend.

Ferrari Earnings and What to expect: 

Ferrari last posted its quarterly earnings data on August 1st, 2021. The reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by $0.08. The firm earned $1.04 billion during the quarter, compared to analyst estimates of $1.05 billion. Its revenue for the quarter was up 81.3% compared to the same quarter last year. Ferrari has generated $3.29 earnings per share over the last year ($5.44 diluted earnings per share) and currently has a price-to-earnings ratio of 41.0. Earnings for Ferrari are expected to grow by 12.90% in the coming year, from $4.73 to $5.34 per share. Ferrari has confirmed that its next quarterly earnings report will be published on Tuesday, November 2nd, 2021. Ferrari will be holding an earnings conference call on Tuesday, November 2nd at 10:00 AM Eastern. Interested parties can register for or listen to the call..

Earnings for Ferrari are expected to grow by 12.90% in the coming year, from $4.73 to $5.34 per share. The P/E ratio of Ferrari is 41.00, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 15.27. The P/E ratio of Ferrari is 41.00, which means that it is trading at a more expensive P/E ratio than the Auto/Tires/Trucks sector average P/E ratio of about 20.56. Ferrari has a PEG Ratio of 2.67. PEG Ratios above 1 indicate that a company could be overvalued. Ferrari has a P/B Ratio of 20.17. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Ferrari (NYSE:RACE) Moving Average Technical Analysis

5 day Moving Average is $$223.58 And 5 day price change is $8.99 (4.20%)  with average volume for 5 day average is 241,060. While technical analysis for average 20 days shows significant difference, 20 day moving average is  $215.07 and 20 day price change is $7.20 (3.34%) and average 20 day moving volume is 237,780. 50 day moving average is $217.13  and 50 day price change is $1.84 ( 0.83%)  and with average volume for 50 days is : 233,620. 200 day moving average is $209.66  and 200 day price change is -$3.04 (-1.34%)  and with average volume for 200 days is : 305,766.

Other owners latest trading in Ferrari :

  • On 10/19/2021 shares held by Kestra Advisory Services LLC were 2,180 which equates to market value of $0.46M and appx 0.00% owners of Ferrari
  • On 10/19/2021 shares held by Baillie Gifford & Co. were 10,175,203 which equates to market value of $2.13B and appx 1.10% owners of Ferrari
  • On 10/19/2021 shares held by Birinyi Associates Inc. were 6,400 which equates to market value of $1.34M and appx 0.40% owners of Ferrari
  • In total Institutional ownership equates to Institutional Ownership Percentage: 31.77% for Ferrari

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