El interés en corto de Copart da a los inversores una idea del grado en que los inversores apuestan por la caída de las acciones de Copart. Los datos de interés en corto se actualizan cada dos semanas.

Copart (NASDAQ:CPRT) Bolsa, Informe de interés en corto

Copart

Based in Dallas, Copart operates an online salvage vehicle auction with operations in 11 countries across North America, Europe, and the Middle East, facilitating over 3.5 million transactions annually. The company utilizes its virtual bidding platform, VB3, to connect vehicle sellers with over 750,000 registered buyers around the world. Buyers primarily consist of vehicle dismantlers, rebuilders, individuals and used vehicle retailers. About 80% of Copart's vehicle volume is supplied by auto insurance companies holding vehicles deemed a total loss. Copart also offers services such as vehicle transportation, storage, title transfer, and salvage value estimation. The company primarily operates on a consignment basis and collects fees based on the vehicle's final selling price.

Copart Inc

COPART ORD

Copart's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NYSE">CPRT</a>) short percent of float has fallen 8.67% since its last report. The company recently reported that it has 12.34 million shares sold short, which is 1.58% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.55 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Copart Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1731616212_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Copart has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Copart's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Copart's peer group average for short interest as a percentage of float is 4.25%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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Peering Into Copart's Recent Short Interest

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Shares of commercial services and supplies companies are trading higher after Donald Trump won the 2024 presidential election.

In the current session, the stock is trading at $55.75, after a 0.27% increase. Over the past month, Copart Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NASDAQ">CPRT</a>) stock increased by 11.87%, and in the past year, by 20.48%. With performance like this, long-term shareholders are optimistic but others are more likely to look into the price-to-earnings ratio to see if the stock might be overvalued.

<img src="https://www.benzinga.com/files/images/story/2024/1728666943_0.png" alt="Past Year Chart" />

<h3>A Look at Copart P/E Relative to Its Competitors</h3>
The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued. 
Compared to the aggregate P/E ratio of the 44.92 in the Commercial Services &amp; Supplies industry, Copart Inc. has a lower P/E ratio of 39.72. Shareholders might be inclined to think that the stock might perform worse than it's industry peers. It's also possible that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1728666943_1.png" alt="Guage" />

In summary, while the price-to-earnings ratio is a valuable tool for investors to evaluate a company's market performance, it should be used with caution. A low P/E ratio can be an indication of undervaluation, but it can also suggest weak growth prospects or financial instability. Moreover, the P/E ratio is just one of many metrics that investors should consider when making investment decisions, and it should be evaluated alongside other financial ratios, industry trends, and qualitative factors. By taking a comprehensive approach to analyzing a company's financial health, investors can make well-informed decisions that are more likely to lead to successful outcomes.

News

Intraday Update

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Price Over Earnings Overview: Copart

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2024/10/09/final-trades-john-deere-copart-amgen-and-the-iyh.html">Halftime Report Final Trades</a>,&#8221; Jim Lebenthal of Cerity Partners named Deere &amp; Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) <a href="https://www.benzinga.com/quote/DE/analyst-ratings">as his final trade.</a>
On Wednesday, Citigroup analyst Kyle Menges maintained Deere with a Neutral and raised the price target from $395 to $420.
Jason Snipe of Odyssey Capital Advisors said Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) has got a really strong pipeline.
On Monday, Barclays analyst Carter Gould maintained Amgen with an Equal-Weight rating and raised the price target from $300 to $315.
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
Shannon Saccocia of NB Private Wealth named iShares U.S. Healthcare ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYH#NYSE">IYH</a>).
Joseph M. Terranova of Virtus Investment Partners picked Copart, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NASDAQ">CPRT</a>), an industrial name.
On Sept. 4, Copart reported quarterly earnings of 33 cents per share, which missed the analyst consensus estimate by 8.33%. Quarterly revenue came in at $1.068 billion, which missed the analyst consensus estimate of $1.081 billion. Gross profit and net income were $454 million and $323 million, respectively.
Price Action:
<ul>
<li>Deere gained 1.3% to close at $405.48 during Wednesday's session.</li>
<li>Amgen shares gained 1.5% to close at $322.41 on Wednesday.</li>
<li>iShares U.S. Healthcare ETF gained 1% during Wednesday's session.</li>
<li>Copart shares gained 2.6% to settle at $55.84 on Wednesday.</li>
</ul>
Check This Out: 
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<li><a href="https://www.benzinga.com/news/earnings/24/10/41266054/s-p-settles-at-record-high-as-apple-amazon-shares-surge-investor-optimism-improves-ahead-of-inflati">S&amp;P Settles At Record High As Apple, Amazon Shares Surge: Investor Optimism Improves Ahead Of Inflation Data</a></li>
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Image: Shutterstock

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In the current session, the stock is trading at $52.30, after a 0.21% spike. Over the past month, Copart Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NASDAQ">CPRT</a>) stock increased by 5.52%, and in the past year, by 15.44%. With performance like this, long-term shareholders are optimistic but others are more likely to look into the price-to-earnings ratio to see if the stock might be overvalued.

<img src="https://www.benzinga.com/files/images/story/2024/1728046870_0.png" alt="Past Year Chart" />

<h3>Evaluating Copart P/E in Comparison to Its Peers</h3>
The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued. 
Copart has a lower P/E than the aggregate P/E of 45.46 of the Commercial Services &amp; Supplies industry. Ideally, one might believe that the stock might perform worse than its peers, but it's also probable that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1728046870_1.png" alt="Guage" />

In conclusion, the price-to-earnings ratio is a useful metric for analyzing a company's market performance, but it has its limitations. While a lower P/E can indicate that a company is undervalued, it can also suggest that shareholders do not expect future growth. Additionally, the P/E ratio should not be used in isolation, as other factors such as industry trends and business cycles can also impact a company's stock price. Therefore, investors should use the P/E ratio in conjunction with other financial metrics and qualitative analysis to make informed investment decisions.

Copart (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NASDAQ">CPRT</a>) has outperformed the market over the past 5 years by 6.98% on an annualized basis producing an average annual return of 21.14%. Currently, Copart has a market capitalization of $50.19 billion. 
Buying $100 In CPRT: If an investor had bought $100 of CPRT stock 5 years ago, it would be worth $263.37 today based on a price of $52.16 for CPRT at the time of writing.
<h3>Copart's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727722821_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Copart Stock In The Last 5 Years

Copart's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NYSE">CPRT</a>) short percent of float has risen 14.73% since its last report. The company recently reported that it has 11.53 million shares sold short, which is 1.48% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.49 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Copart Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726504217_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Copart has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Copart's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Copart's peer group average for short interest as a percentage of float is 4.34%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Looking Into Copart's Recent Short Interest

Copart (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NASDAQ">CPRT</a>) has outperformed the market over the past 15 years by 10.88% on an annualized basis producing an average annual return of 22.37%. Currently, Copart has a market capitalization of $47.64 billion. 
Buying $1000 In CPRT: If an investor had bought $1000 of CPRT stock 15 years ago, it would be worth $21,197.75 today based on a price of $49.51 for CPRT at the time of writing.
<h3>Copart's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726003821_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 15 Years Ago Would Be Worth $21,000 Today

Signs of a cooling labor market last month pushed major U.S. stock averages lower on Thursday, ahead of the highly anticipated August jobs report set for release on Friday.
Private sector job creation came in at 99,000 for August, according to ADP data, marking the slowest pace of growth since January 2021 and missing <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40728795/private-employment-grows-by-99-000-in-august-sharply-misses-forecasts-of-140-000-">the forecast of 140,000.</a>
A stronger-than-expected services sector activity sentiment for August offered some relief to broader recession concerns, but an employment subindex bolstered hints of the ongoing cooling <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40732534/services-sector-activity-expands-more-than-expected-in-august-but-employment-growth">in the labor market.</a>
The S&amp;P 500 dropped below the 4,500 support level for the first time since mid-August, extending weekly losses to 2.9%, and is on track for its worst week since mid-April.
Tech stocks managed to pare losses, with semiconductor shares holding steady. Blue-chip stocks underperformed, as the Dow Jones slid 0.8%, while small-cap stocks fell 0.6%.
A decision from OPEC+ to delay an October oil production increase by two months supported crude prices and further pressured already fragile investor sentiment. West Texas Intermediate (WTI) crude stopped its decline after suffering its worst two-day slump since October 2023.
Treasury yields dipped slightly, and the U.S. dollar softened. Meanwhile, gold edged higher by 0.6%.
Natural gas was Thursday's standout performer, with Henry Hub prices surging over 5%. The U.S. Energy Information Administration reported a natural gas storage injection of 13 billion cubic feet (Bcf) for the week ending Aug. 30, significantly below historical averages and expectations.
Sentiment in crypto assets worsened, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) tumbling 3% to $56,170. 
<h1 class="wp-block-heading">Thursday&#8217;s Performance In Major US Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>% change</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,906.30</td>
<td>-0.1%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,495.09</td>
<td>-0.5%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,132.72</td>
<td>-0.6%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,638.99</td>
<td>-0.8%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:52 p.m.</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090524&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.5% lower to $548.40.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;fell 0.8% to $407.30.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) edged 0.1% lower to $459.90.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.6% to $211.35.</li>
<li>The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, up by 0.8%, while the Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) lagged, down 1.5%.</li>
</ul>
<h1 class="wp-block-heading">Thursday&#8217;s Stock Movers</h1>
<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rallied 4% after announcing it plans to roll out its Full Self-Driving (FSD) technology in China and Europe during the first quarter of 2025, pending regulatory approvals. The EV maker will also produce a six-seat Model Y variant in China, starting next year.</li>
<li>Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) announced Thursday it has reached an agreement to acquire Frontier Communications Parent Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FYBR#NYSE">FYBR</a>) in an all-cash deal valued at approximately $20 billion. Shares of Verizon eased 0.6%, while those of Frontier Communication Parent plummeted 9% after rallying 37% on Wednesday.</li>
<li>United Steel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) rose 4% after tumbling 17% Wednesday. According to Reuters, the Committee on Foreign Investment in the U.S. (CFIUS) has raised concerns about potential national security risks related to Nippon Steel&#8217;s planned $14.9 billion acquisition of U.S. Steel. </li>
<li>NIO Inc. &#8211; ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) rallied 11% in reaction to upbeat quarterly results and improved guidance.</li>
<li>Other stocks reacting to earnings results included The Toro Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTC#NYSE">TTC</a>) down over 10%, Copart Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NASDAQ">CPRT</a>) down 6.7%, Hewlett Packard Enterprise Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) down 5.3%, Core &amp; Main, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNM#NYSE">CNM</a>) down 0.7%, Credo Technology Group Holding Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRDO#NASDAQ">CRDO</a>) and C3.ai, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AI#NYSE">AI</a>), both down around 13%.</li>
<li>Companies reporting results after the close include Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Samsara Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IOT#NYSE">IOT</a>), DocuSign Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOCU#NASDAQ">DOCU</a>), Ui Path Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PATH#NYSE">PATH</a>) and Smartsheet Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMAR#NYSE">SMAR</a>). </li>
</ul>
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40718185/could-august-jobs-numbers-keep-recession-fears-at-bay-this-time-is-different-analys">Could August Jobs Numbers Keep Recession Fears At Bay? &#8216;This Time Is Different,&#8217; Analyst Says</a> Don&#8217;t miss the opportunity to dominate in a volatile market at the <a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Benzinga SmallCAP Conference</a> on Oct. 9-10 at the Chicago Marriott Downtown Magnificent Mile. Get exclusive access to CEO presentations, 1:1 meetings with investors, and valuable insights from top financial experts. Whether you&#8217;re a trader, entrepreneur, or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders. Secure your spot and get your tickets today!</li>
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S&P 500 Falls Below 5,500 Points On Cooling Jobs Data, Tesla Leads Tech Gains, Natural Gas Spikes: What's Driving Markets Thursday?

U.S. stock futures were mixed this morning, with the Nasdaq futures dipping around 50 points on Thursday.
Shares of Verint Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNT#NASDAQ">VRNT</a>) fell sharply in today's pre-market trading after the company reported worse-than-expected second-quarter financial results and announced a new $200 million s<a href="https://www.benzinga.com/news/earnings/24/09/40723544/saic-hewlett-packard-enterprise-and-3-stocks-to-watch-heading-into-thursday">tock buyback program.</a>
Verint Systems reported quarterly earnings of 49 cents per share which missed the analyst consensus estimate of 53 cents per share. The company reported quarterly sales of $210.170 million which missed the analyst consensus estimate of $212.840 million.
Verint Systems shares dipped 15% to $25.40 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>C3.ai, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AI#NYSE">AI</a>) fell 18.7% to $18.70 in pre-market trading after the company announced first-quarter results.</li>
<li>Credo Technology Group Holding Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRDO#NASDAQ">CRDO</a>) shares declined 13.1% to $27.20 in pre-market trading following first-quarter results.</li>
<li>ChargePoint Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NYSE">CHPT</a>) fell 8.9% to $1.54 in pre-market trading after the company reported worse-than-expected second-quarter revenue results.</li>
<li>StoneCo Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STNE#NASDAQ">STNE</a>) shares declined 8.2% to $11.58 in pre-market trading.</li>
<li>V2X, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VVX#NYSE">VVX</a>) shares slipped 7.2% to $49.50 in pre-market trading. V2X announced pricing of secondary offering of common stock.</li>
<li>PagSeguro Digital Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAGS#NYSE">PAGS</a>) fell 7.1% to $9.85 in pre-market trading.</li>
<li>Copart, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NASDAQ">CPRT</a>) shares declined 6.1% to $49.81 in pre-market trading after the company reported worse-than-expected fourth-quarter financial results.</li>
<li>Hewlett Packard Enterprise Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) shares slipped 2.3% to $18.34 in pre-market trading. Hewlett Packard Enterprise reported better-than-expected third-quarter financial results, after the closing bell on Wednesday.</li>
</ul>
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Verint Reports Downbeat Results, Joins C3.ai, Credo Technology And Other Big Stocks Moving Lower In Thursday's Pre-Market Session

Baird analyst Craig Kennison maintains Copart (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NASDAQ">CPRT</a>) with a Outperform and lowers the price target from $58 to $56.

Price Target

Baird Maintains Outperform on Copart, Lowers Price Target to $56

Copart shares are trading lower after the company reported worse-than-expected Q4 financial results.

Copart Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NASDAQ">CPRT</a>) shares are trading lower after the company reported its fourth-quarter financial results after Wednesday's closing bell. Here's a look at the <a href="https://www.benzinga.com/pressreleases/24/09/b40718746/copart-reports-fourth-quarter-fiscal-2024-financial-results">details from the report. </a>
The Details: Copart reported quarterly earnings of 33 cents per share, which missed the analyst consensus estimate by 8.33%. Quarterly revenue came in at $1.068 billion, which missed the analyst consensus estimate of $1.081 billion. Gross profit and net income were $454 million and $323 million, respectively. 
Read Next: <a href="https://www.benzinga.com/news/earnings/24/09/40718730/hewlett-packard-reports-better-than-expected-q3-results-details">Hewlett Packard Reports Better-Than-Expected Q3 Results: Details</a>
For the fiscal year ending July 31, 2024, revenue, gross profit, and net income were $4.2 billion, $1.9 billion, and $1.4 billion, respectively. These represent an increase in revenue of $367.3 million, or 9.5%; an increase in gross profit of $170.3 million, or 9.8%; and an increase in net income of $125.3 million, or 10.1%, respectively, from the same period last year. 
CPRT Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Copart shares are down 5.56% after-hours at $50.10 at the time of publication Wednesday.
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Image: Alexander Naumann from Pixabay

After-Hours Center

Copart Shares Fall After Worse-Than-Expected Q4 Results: Details

Copart (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NASDAQ">CPRT</a>) reported quarterly earnings of $0.33 per share which missed the analyst consensus estimate of $0.36 by 8.33 percent. The company reported quarterly sales of $1.068 billion which missed the analyst consensus estimate of $1.081 billion by 1.20 percent. This is a 7.06 percent increase over sales of $997.591 million the same period last year.

Earnings Misses

Copart Q4 2024 GAAP EPS $0.33 Misses $0.36 Estimate, Sales $1.068B Miss $1.081B Estimate

Wall Street traded slightly higher on Wednesday, rebounding after the sharp sell-off a day earlier that saw chipmakers tumble, with NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shedding around $280 billion in market value — the largest single-day drop in history.
Investors processed fresh insights from July labor market statistics, which confirmed cooling conditions as job openings fell to their lowest level in three years, almost closing the <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40711148/july-job-openings-fall-to-3-year-lows-gap-with-unemployment-narrows-to-near-parit">gap with unemployment levels.</a>
Expectations for a Federal Reserve interest rate cut improved, with market participants now assigning a 43% implied probability of a 50-basis-point cut in September, up from 38% the previous day.
Attention now shifts to key August labor data, with the ADP private payrolls report due Thursday, followed by the official jobs report on Friday.
Major equity indices were up marginally, while bonds outperformed, with the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rising 0.7%, adding to Tuesday&#8217;s 1.3% gain.
Notably, chipmakers, as tracked by the iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>), rose 1%. 
The U.S. dollar weakened, losing 0.4% as falling Treasury yields weighed on the currency. Gold inched up 0.2%, set to break a three-day losing streak.
Oil prices continued to decline, falling 0.7% despite OPEC+ announcing a delay in its planned production increases.
Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) bounced back 1.6%, trading at $58,200.
<h1 class="wp-block-heading">Wednesday&#8217;s Performance Among Major Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,162.23</td>
<td>0.4%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,033.77</td>
<td>0.4%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,985.75</td>
<td>0.1%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,535.16</td>
<td>0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:35 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent090424&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.2% higher to $552.98.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.2% to $411.03.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.4% to $463.53.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) increase 0.4% to $214.31.</li>
<li>The Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) outperformed, up by 0.8%, while the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 0.8%.</li>
</ul>
<h1 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h1>
<ul>
<li>Dollar Tree Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) sunk 20% after missing quarterly earnings estimates and delivering a guidance cut.</li>
<li>Other stocks reacting to company earnings were Dicks Sporting Goods Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>) down 5%, Hormel Foods Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRL#NYSE">HRL</a>) down 6.6% and Ciena Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIEN#NYSE">CIEN</a>) up 2.2%.</li>
<li>ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) fell 3.2% after UBS downgraded the Dutch chipmaker from Buy to Neutral, also cutting the price target. </li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rose 5% on upbeat sales data in China. The China Passenger Car Association reported that sales of Tesla's China-made electric vehicles rose 17% compared to July and increased 3% year-over-year.</li>
<li>Companies reporting earnings after the close include Copart Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NASDAQ">CPRT</a>), Hewlett Packard Enterprise Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) and Caseys General Stores Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASY#NASDAQ">CASY</a>).</li>
</ul>
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40713134/bank-of-canada-cuts-rates-again-as-inflation-labor-market-cool-canadian-stocks-rebound-loonie-st">Bank Of Canada Cuts Rates Again As Inflation, Labor Market Cool: Canadian Stocks Rebound, Loonie Strengthens</a></li>
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This image was created using artificial intelligence MidJourney.

Federal Reserve

ASML

CASY

CIEN

DLTR

NVDA

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

iShares Trust Barclays 20+ Year Treasury Bond Fund

Stocks Rebound, Chipmakers Halt Bloodbath As Traders Upgrade Rate Cut Wagers; Tesla Rises, Dollar Tree In Free Fall: What's Driving Markets Wednesday?

Copart (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NASDAQ">CPRT</a>) has outperformed the market over the past 15 years by 11.26% on an annualized basis producing an average annual return of 23.46%. Currently, Copart has a market capitalization of $50.62 billion. 
Buying $100 In CPRT: If an investor had bought $100 of CPRT stock 15 years ago, it would be worth $2,382.91 today based on a price of $52.60 for CPRT at the time of writing.
<h3>Copart's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724776217_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Copart Stock In The Last 15 Years

Copart (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NASDAQ">CPRT</a>) has outperformed the market over the past 15 years by 11.49% on an annualized basis producing an average annual return of 23.12%. Currently, Copart has a market capitalization of $48.97 billion. 
Buying $1000 In CPRT: If an investor had bought $1000 of CPRT stock 15 years ago, it would be worth $22,326.30 today based on a price of $50.89 for CPRT at the time of writing.
<h3>Copart's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722879012_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $1000 In This Stock 15 Years Ago, You Would Have $22,000 Today

Copart's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NYSE">CPRT</a>) short percent of float has fallen 24.1% since its last report. The company recently reported that it has 11.48 million shares sold short, which is 1.48% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.25 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Copart Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722619811_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Copart has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Copart's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Copart's peer group average for short interest as a percentage of float is 6.73%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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