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Nikola (NKLA) Beats Stock Market Upswing: What Investors Need to Know
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The most recent trading session ended with Nikola (NKLA - Free Report) standing at $0.63, reflecting a +1.7% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily gain of 0.89%. At the same time, the Dow added 1.03%, and the tech-heavy Nasdaq gained 1.25%.
The pioneer in zero-emission trucks's shares have seen a decrease of 12.25% over the last month, not keeping up with the Auto-Tires-Trucks sector's loss of 2.46% and the S&P 500's gain of 3.56%.
The investment community will be paying close attention to the earnings performance of Nikola in its upcoming release. It is anticipated that the company will report an EPS of -$0.09, marking a 65.38% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $19.68 million, indicating a 76.95% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.42 per share and a revenue of $192.43 million, demonstrating changes of +46.84% and +430.41%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Nikola. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 30.71% upward. Nikola presently features 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 62, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Nikola (NKLA) Beats Stock Market Upswing: What Investors Need to Know
The most recent trading session ended with Nikola (NKLA - Free Report) standing at $0.63, reflecting a +1.7% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily gain of 0.89%. At the same time, the Dow added 1.03%, and the tech-heavy Nasdaq gained 1.25%.
The pioneer in zero-emission trucks's shares have seen a decrease of 12.25% over the last month, not keeping up with the Auto-Tires-Trucks sector's loss of 2.46% and the S&P 500's gain of 3.56%.
The investment community will be paying close attention to the earnings performance of Nikola in its upcoming release. It is anticipated that the company will report an EPS of -$0.09, marking a 65.38% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $19.68 million, indicating a 76.95% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.42 per share and a revenue of $192.43 million, demonstrating changes of +46.84% and +430.41%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Nikola. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 30.71% upward. Nikola presently features 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 62, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.