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Copart Gains 4% in After-Hours On Quarterly Sales Win - TipRanks Financial Blog
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Copart Gains 4% in After-Hours On Quarterly Sales Win

Shares of Copart rose 4% in after-market trading on Wednesday after the online auction and vehicle services provider reported better-than-expected 4Q results.

Copart’s (CPRT) 4Q revenue of $525.7 million came ahead of the Street consensus of $420.1 million. It’s adjusted EPS jumped 15% to $0.69 year-over-year and surpassed analysts’ expectations of $0.39.

On Aug. 31, Barrington Research analyst Gary Prestopino reaffirmed his Hold rating on the stock citing stronger-than-expected improvement in vehicle miles driven. Prestopino noted that “Since late April, the market has seen a stronger improvement than originally anticipated with markets reopening and vehicle miles driven rebounding from the March-April time frame.” (See CPRT stock analysis on TipRanks).

Overall, the Street has a cautiously optimistic outlook on the stock. The Moderate Buy analyst consensus is based on 2 Buys and 4 Holds. The average price target of $93.33 implies a downside potential of about 11% to current levels. Shares are up more than 15% year-to-date.

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Amit Singh
Amit Singh has over eight years of strong experience (both sell-side and buy-side) in analyzing financial reports and filings as well as identifying strategic investment opportunities. Over the years, Amit has covered various industries and geographies, with a primary focus on consumer staples and the consumer discretionary sector. Amit’s background spans evaluating company portfolios, building complex financial models, writing financial articles, and identifying the overall financial worth of companies. He has a post-graduate diploma in finance.

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