EquipmentShare.com (NASDAQ:EQPT) Sets New 1-Year Low - Here's Why

Key Points

• EquipmentShare.com shares hit a new 52-week low, trading as low as $18.45 (last $18.31) on heavy volume (~2.06M shares), significantly below the 50‑day SMA of $23.77.
• Wall Street's consensus is a "Hold" with an average target of $38.88; analyst coverage is mixed (6 Buys, 4 Holds, 1 Sell) and several firms have recently cut price targets.
• Operationally the company beat expectations last quarter — EPS $0.24 vs. $0.19 expected and revenue $1.57B vs. $1.54B — with analysts projecting about $0.47 EPS for the fiscal year.

EquipmentShare.com Inc (NASDAQ:EQPT - Get Free Report) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $18.45 and last traded at $18.3120, with a volume of 2057314 shares. The stock had previously closed at $20.13.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Citizens Jmp assumed coverage on shares of EquipmentShare.com in a report on Tuesday, February 17th. They issued a "market outperform" rating and a $42.00 price objective on the stock. Wall Street Zen raised shares of EquipmentShare.com from a "sell" rating to a "hold" rating in a report on Saturday, March 14th. Wells Fargo & Company dropped their price objective on shares of EquipmentShare.com from $35.00 to $32.00 and set an "overweight" rating on the stock in a report on Monday, April 13th. Robert W. Baird lowered their target price on EquipmentShare.com from $63.00 to $55.00 and set an "outperform" rating on the stock in a research report on Friday, March 20th. Finally, Citigroup lowered their target price on EquipmentShare.com from $25.00 to $22.00 and set a "neutral" rating on the stock in a research report on Monday, April 13th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, EquipmentShare.com presently has a consensus rating of "Hold" and an average target price of $38.88.

EquipmentShare.com Price Performance

The stock's 50-day simple moving average is $23.77.

EquipmentShare.com (NASDAQ:EQPT - Get Free Report) last issued its quarterly earnings results on Wednesday, March 18th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. The firm had revenue of $1.57 billion for the quarter, compared to analysts' expectations of $1.54 billion. On average, analysts expect that EquipmentShare.com Inc will post 0.47 EPS for the current fiscal year.

About EquipmentShare.com

EquipmentShare.com Inc provides integrated, full-service construction solutions across equipment rental, sales and technology. EquipmentShare.com Inc is based in Columbia, Missouri.

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