Brokerages Set Canoo Inc. (NASDAQ:GOEV) Price Target at $23.79 (2024)

Canoo Inc. (NASDAQ:GOEV – Get Free Report) has been given a consensus rating of “Moderate Buy” by the seven brokerages that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $23.79.

A number of equities analysts recently issued reports on GOEV shares. Alliance Global Partners dropped their price objective on shares of Canoo from $20.00 to $18.50 and set a “buy” rating on the stock in a report on Friday, March 15th. Roth Mkm dropped their price target on shares of Canoo from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 15th. Benchmark restated a “buy” rating and issued a $5.00 price objective on shares of Canoo in a research note on Wednesday, May 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 target price on shares of Canoo in a report on Wednesday, May 15th. Finally, R. F. Lafferty lowered Canoo from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th.

View Our Latest Report on Canoo

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC purchased a new stake in Canoo during the 3rd quarter valued at approximately $72,000. SG Americas Securities LLC grew its stake in Canoo by 95.6% during the first quarter. SG Americas Securities LLC now owns 22,065 shares of the company’s stock valued at $79,000 after acquiring an additional 10,786 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in Canoo by 36.9% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 174,300 shares of the company’s stock valued at $85,000 after acquiring an additional 47,000 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in Canoo in the 3rd quarter valued at $133,000. Finally, Swiss National Bank lifted its stake in Canoo by 20.5% in the 3rd quarter. Swiss National Bank now owns 935,200 shares of the company’s stock worth $458,000 after purchasing an additional 159,400 shares in the last quarter. 36.23% of the stock is owned by hedge funds and other institutional investors.

Canoo Trading Down 1.0 %

Shares of GOEV opened at $2.02 on Friday. The firm has a market cap of $138.51 million, a PE ratio of -0.19 and a beta of 1.28. Canoo has a 1-year low of $1.22 and a 1-year high of $19.50. The firm has a fifty day simple moving average of $2.54 and a two-hundred day simple moving average of $3.63.

Canoo (NASDAQ:GOEV – Get Free Report) last posted its earnings results on Tuesday, May 14th. The company reported ($2.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.97) by ($1.23). During the same quarter in the prior year, the company earned ($3.91) earnings per share. As a group, research analysts forecast that Canoo will post -4.37 EPS for the current fiscal year.

About Canoo

(Get Free Report

Canoo Inc, a mobility technology company, designs, develops, markets, and manufactures electric vehicles for consumer, commercial fleet, government, and military customers in the United States. the company utilizes its multi-purpose platform architecture, a self-contained, fully functional rolling chassis that directly houses the critical components for operation of an electric vehicle, including its in-house designed proprietary electric drivetrain, battery systems, advanced vehicle control electronics and software, and other critical components.

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