EquipmentShare.com (NASDAQ:EQPT) Shares Gap Up - What's Next?

Key Points

• EquipmentShare.com shares gapped up at the open, rising from a prior close of $16.00 to $18.00 and last trading near $18.95, after recently being up about 17% intraday.
• Analysts remain mixed on the stock: the consensus rating is Hold, with an average price target of $37.22, though recent reports included both buy/outperform views and target cuts.
• The company beat earnings expectations last quarter, posting EPS of -$0.11 versus estimates of -$0.26, while revenue climbed 38.1% year over year to $989 million; insider buying also picked up over the last quarter.

EquipmentShare.com Inc (NASDAQ:EQPT - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $16.00, but opened at $18.00. EquipmentShare.com shares last traded at $18.9540, with a volume of 1,272,068 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently commented on EQPT shares. Wall Street Zen upgraded EquipmentShare.com from a "sell" rating to a "hold" rating in a report on Saturday, March 14th. Robert W. Baird dropped their target price on EquipmentShare.com from $63.00 to $55.00 and set an "outperform" rating for the company in a report on Friday, March 20th. Wells Fargo & Company reduced their price target on EquipmentShare.com from $35.00 to $32.00 and set an "overweight" rating on the stock in a research report on Monday, April 13th. Truist Financial decreased their price target on EquipmentShare.com from $41.00 to $38.00 and set a "buy" rating on the stock in a research note on Thursday, July 2nd. Finally, BNP Paribas Exane started coverage on EquipmentShare.com in a research report on Monday, June 29th. They issued a "neutral" rating and a $22.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $37.22.

EquipmentShare.com Trading Up 17.0%

The firm has a market cap of $4.73 billion and a P/E ratio of 145.92. The company has a debt-to-equity ratio of 2.71, a quick ratio of 1.90 and a current ratio of 2.47. The stock's fifty day moving average price is $21.20.

EquipmentShare.com (NASDAQ:EQPT - Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.26) by $0.15. The business had revenue of $989.00 million for the quarter. EquipmentShare.com's revenue for the quarter was up 38.1% on a year-over-year basis. As a group, research analysts predict that EquipmentShare.com Inc will post 0.46 EPS for the current year.

Insider Activity at EquipmentShare.com

In related news, Director Naveen Bhatia acquired 10,000 shares of EquipmentShare.com stock in a transaction on Friday, May 15th. The shares were acquired at an average cost of $24.22 per share, with a total value of $242,200.00. Following the transaction, the director owned 312,000 shares in the company, valued at $7,556,640. This trade represents a 3.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jabbok Schlacks acquired 50,000 shares of the business's stock in a transaction on Monday, June 15th. The shares were purchased at an average cost of $21.12 per share, for a total transaction of $1,056,000.00. Following the completion of the transaction, the chief executive officer owned 50,000 shares in the company, valued at approximately $1,056,000. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 81,803 shares of company stock worth $1,797,271 over the last quarter.

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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