Why Copart Stock Spiked 9% Today
I'll say one thing for junked-car salvager Copart (NASDAQ: CPRT): It doesn't waste words. In a press release last night that topped out at 169 words (a third of which were just telling investors how to tune in for its earnings conference call), Copart efficiently explained to investors how it met analyst forecasts for fiscal Q1 2025 earnings and beat expectations for revenues.
Copart stock is up 8.9% through 10:30 a.m. ET in response.
Copart grew its revenues 12% year over year in Q1 to $1.15 billion, about $50 million more than Wall Street's forecast. Revenue from vehicle sales was basically flat year over year at $160.5 million. Copart got all its growth from services revenue instead, which climbed 15% to $986.3 million.
Source Fool.com
Copart Inc. Stock
€25.26
-1.250%
Based on 3 Buy predictions and 2 Sell predictions the sentiment towards Copart Inc. is rather balanced.
As a result the target price of 28 € shows a slightly positive potential of 10.85% compared to the current price of 25.26 € for Copart Inc..
