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Nikola (NKLA) Flat As Market Gains: What You Should Know
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Nikola (NKLA - Free Report) closed at $1.10 in the latest trading session, marking no change from the prior day. This change lagged the S&P 500's daily gain of 1.15%. At the same time, the Dow added 0.63%, and the tech-heavy Nasdaq gained 7.23%.
Heading into today, shares of the pioneer in zero-emission trucks had gained 86.57% over the past month, outpacing the Auto-Tires-Trucks sector's gain of 14.08% and the S&P 500's gain of 3.08% in that time.
Nikola will be looking to display strength as it nears its next earnings release. In that report, analysts expect Nikola to post earnings of -$0.23 per share. This would mark year-over-year growth of 8%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.53 million, down 14.32% from the year-ago period.
NKLA's full-year Zacks Consensus Estimates are calling for earnings of -$0.85 per share and revenue of $152.13 million. These results would represent year-over-year changes of +23.42% and +199.31%, respectively.
Investors might also notice recent changes to analyst estimates for Nikola. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.51% higher. Nikola is currently sporting a Zacks Rank of #2 (Buy).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Nikola (NKLA) Flat As Market Gains: What You Should Know
Nikola (NKLA - Free Report) closed at $1.10 in the latest trading session, marking no change from the prior day. This change lagged the S&P 500's daily gain of 1.15%. At the same time, the Dow added 0.63%, and the tech-heavy Nasdaq gained 7.23%.
Heading into today, shares of the pioneer in zero-emission trucks had gained 86.57% over the past month, outpacing the Auto-Tires-Trucks sector's gain of 14.08% and the S&P 500's gain of 3.08% in that time.
Nikola will be looking to display strength as it nears its next earnings release. In that report, analysts expect Nikola to post earnings of -$0.23 per share. This would mark year-over-year growth of 8%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $15.53 million, down 14.32% from the year-ago period.
NKLA's full-year Zacks Consensus Estimates are calling for earnings of -$0.85 per share and revenue of $152.13 million. These results would represent year-over-year changes of +23.42% and +199.31%, respectively.
Investors might also notice recent changes to analyst estimates for Nikola. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.51% higher. Nikola is currently sporting a Zacks Rank of #2 (Buy).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.