Last Updated: 12 Nov 2024
Executive Summary
Ferrari NV (RACE) is a leading manufacturer of high-performance sports cars. The company has a strong brand reputation and a loyal customer base. Ferrari's financial performance has been strong in recent years, with revenue and earnings growing steadily. The company's stock price has also performed well, outperforming the broader market.
Company Overview
Ferrari was founded in 1929 by Enzo Ferrari. The company is headquartered in Maranello, Italy. Ferrari designs, develops, manufactures, and sells high-performance sports cars. The company's product lineup includes the 812 Superfast, the F8 Tributo, and the SF90 Stradale. Ferrari also sells a line of luxury clothing and accessories.
Fundamental Analysis
Ferrari's financial performance has been strong in recent years. The company's revenue has grown from $3.4 billion in 2018 to $6.5 billion in 2023. Ferrari's earnings have also grown steadily, from $720 million in 2018 to $1.1 billion in 2023.
Ferrari's financial performance is driven by strong demand for its products. The company's cars are highly sought-after by collectors and enthusiasts. Ferrari also benefits from a strong brand reputation. The company's logo, the prancing horse, is one of the most recognizable symbols in the world.
Ferrari's financial performance is expected to continue to be strong in the coming years. The company is planning to launch several new models in the coming years, including the Purosangue SUV. Ferrari is also expanding its presence in new markets, such as China.
Technical Analysis
Ferrari's stock price has performed well in recent years. The stock price has risen from $328.05 in 2023 to $452.46 today. Ferrari's stock price is currently trading above its 50-day and 200-day moving averages. This indicates that the stock is in a bullish trend.
Ferrari's stock price is also trading near its 52-week high of $498.23. This indicates that the stock is overbought and could be due for a correction.
Short Term Outlook
Ferrari's stock price is expected to continue to be volatile in the short term. The stock could experience a correction in the near term, as it is trading near its 52-week high. However, the stock is expected to continue to perform well over the long term.
Long Term Outlook
Ferrari's long-term outlook is positive. The company is expected to continue to benefit from strong demand for its products and a strong brand reputation. Ferrari is also expected to benefit from the launch of new models and expansion into new markets.
Analyst Recommendations
Analysts are bullish on Ferrari's stock. The consensus analyst rating is "Buy." The average analyst target price is $497.83, which represents a potential upside of 10% from the current price.
