Copart Inc. ($CPRT) Stock Forecast: Up 9.3% Today

What is Copart Inc.?

Copart, Inc. (CPRT) is a company that provides online auction and vehicle remarketing services. The company helps sellers to sell vehicles over the internet to buyers worldwide.

Why is Copart Inc. going up?

CPRT stock is up 9.3% on Nov 22, 2024 14:41

• CPRT had a strong bullish movement today after matching Q1 earnings estimates.
• The market reacted positively to the company delivering earnings and revenue in line with expectations, indicating stability and potential growth.
• Investors may be optimistic about CPRT's future performance based on the recent results, leading to increased buying activity and driving the stock price higher.
• The market movement suggests that investors have confidence in CPRT's ability to navigate current challenges and capitalize on future opportunities in the vehicle remarketing industry.

CPRT Price Chart

CPRT Technical Analysis

CPRT News

Copart, Inc. ( CPRT ) Matches Q1 Earnings Estimates

Copart (CPRT) delivered earnings and revenue surprises of 0% and 3.60%, respectively, for the quarter ended October 2024. Do the numbers hold clues to what lies ahead for the stock?

https://www.zacks.com/stock/news/2373643/copart-inc-cprt-matches-q1-earnings-estimates

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Copart Inc. Price History

05.08.2024 - CPRT Stock was down 9.0%

• CPRT shares saw a significant decline following the company's Q4 results, which fell short of expectations.
• Earnings of 33 cents per share in the quarter failed to meet analyst predictions, prompting a negative investor reaction.
• The company's Q4 earnings were -10.81% below estimates, while revenue surprises were 0.39%, contributing to the downward trend in CPRT stock.
• Concerns about Copart's future performance arising from disappointing financial results have driven the bearish market sentiment.

22.10.2024 - CPRT Stock was up 9.3%

• CPRT had a strong bullish movement today after matching Q1 earnings estimates.
• The market reacted positively to the company delivering earnings and revenue in line with expectations, indicating stability and potential growth.
• Investors may be optimistic about CPRT's future performance based on the recent results, leading to increased buying activity and driving the stock price higher.
• The market movement suggests that investors have confidence in CPRT's ability to navigate current challenges and capitalize on future opportunities in the vehicle remarketing industry.

18.08.2023 - CPRT Stock was up 2.3%

• Short percent of float for CPRT has risen significantly, indicating increased interest from traders.
• CPRT's Q4 earnings and revenues surpassed estimates, reflecting positive financial performance.
• Positive market sentiment towards CPRT is further supported by the company's higher earnings and revenues in Q4.
• The overall market movement for CPRT could also be influenced by the positive results of other companies like Adobe Inc., which reported better-than-expected earnings.

02.10.2023 - CPRT Stock was up 5.2%

• Copart has outperformed the market over the past 15 years, indicating a strong track record.
• StockNews.com upgraded Copart from a hold rating to a buy rating, suggesting positive sentiment towards the stock.
• The dip in Copart's stock price today could be attributed to broader market trends rather than company-specific news.
• Overall, Copart's strong performance and positive analyst sentiment contribute to the bullish movement observed today.

15.08.2023 - CPRT Stock was down 0.7%

• Despite delivering better-than-expected earnings and revenue for the quarter, CPRT experienced a strong bearish movement.
• The in-line sales forecast for the fourth quarter by Adobe Inc., which also reported earnings, might have impacted investor sentiment and indirectly affected CPRT.
• The overall decline in investor sentiment following inflation data could have contributed to the bearish movement of CPRT.
• It's possible that despite the positive financial results, investors were looking for even stronger performance from CPRT, leading to the bearish market movement.

13.09.2023 - CPRT Stock was down 5.7%

• The exercise of stock options by Board Member Stephen Fisher worth $7.43 million may have contributed to the bearish movement. This could indicate a lack of confidence in the company's future prospects.
• The selling of 160,000 shares by Director Stephen Fisher further adds to the negative sentiment surrounding CPRT.
• The article comparing Copart to its industry peers suggests that investors may be reevaluating their positions in the company, leading to the bearish market movement.
• Despite exceeding market returns in the prior trading session, CPRT's stock price closed lower today, indicating a shift in investor sentiment.

18.04.2023 - CPRT Stock was up 5.4%

• Today, CPRT had a strong bullish movement, and this could be attributed to the following reasons:
• The company reported Q3 earnings that surpassed estimates, indicating strong financial performance.
• The Q3 profit increased from the same period last year, beating the Street estimates.
• CPRT's Q3 Non-GAAP EPS beat by $0.08, and revenue beat by $10M, which could have boosted investor confidence in the company's growth prospects.
• The news about Valvoline joining the elite list of stocks with 95-plus composite rating could have also contributed to the bullish sentiment in the market.

04.03.2024 - CPRT Stock was down 2.6%

• Today's significant insider sell by the Executive Chairman, JAYSON ADAIR, who cashed out over $34 million in company stock, could be a factor in the strong bearish movement in CPRT's stock. This sell-off may have raised concerns among investors about the company's future prospects.
• The increase in short interest in Copart's stock, with 13.18 million shares sold short, might have added selling pressure on the stock, contributing to the bearish movement observed.
• The news of the Executive Chairman's substantial sell-off and the rise in short interest may have overshadowed any positive sentiment from the company's operations, leading to a downward trend in CPRT's stock price.

22.07.2023 - CPRT Stock was down 49.3%

• The stock CPRT had a strong bearish movement today, closing at $88.08 with a -0.6% decrease from the prior day.
• The market movement could be attributed to various factors, including:
• Investor concerns about the overall economic outlook, leading to a decrease in demand for used and salvage vehicles.
• Negative sentiment surrounding the automotive industry due to factors such as declining car sales or disruptions in the supply chain.
• Specific news related to Copart, Inc., such as a decrease in auction volumes or a change in their business strategy, which could have influenced investor sentiment and contributed to the bearish movement.