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GOOGL   133.10 (+1.96%)
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NVDA   432.58 (+1.86%)
NIO   8.98 (+6.15%)
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AMD   103.28 (+5.31%)
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NVDA   432.58 (+1.86%)
NIO   8.98 (+6.15%)
BABA   85.66 (-0.61%)
AMD   103.28 (+5.31%)
T   14.97 (+0.67%)
F   12.63 (+1.94%)
MU   65.59 (-3.84%)
CGC   0.83 (-6.48%)
GE   112.62 (+1.56%)
DIS   80.25 (+0.44%)
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PYPL   58.25 (+1.59%)
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NYSE:GOEV

Canoo (GOEV) Stock Forecast, Price & News

$0.48
-0.01 (-1.16%)
(As of 12:45 PM ET)
Compare
Today's Range
$0.47
$0.49
50-Day Range
$0.44
$0.67
52-Week Range
$0.41
$2.04
Volume
3.85 million shs
Average Volume
25.46 million shs
Market Capitalization
$304.18 million
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$4.76

Canoo MarketRank™ Forecast

Analyst Rating
Buy
3.00 Rating Score
Upside/​Downside
882.4% Upside
$4.76 Price Target
Short Interest
N/A
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
N/A
Insider Trading
Selling Shares
$14,401 Sold Last Quarter
Proj. Earnings Growth
Growing
From ($0.53) to ($0.43) Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.08 out of 5 stars

Auto/Tires/Trucks Sector

53rd out of 95 stocks

Motor Vehicle Parts & Accessories Industry

24th out of 34 stocks


GOEV stock logo

About Canoo (NYSE:GOEV) Stock

Canoo Inc., formerly Hennessy Capital Acquisition Corp. IV, is an American electric vehicle (EV) manufacturer headquartered in Torrance, California. The company was founded in 2017 by a group of former BMW and Deutsche Bank executives who aimed to create a new EV company. Canoo Inc.'s unique selling point is its flexible skateboard platform, which can be used for various vehicle types, including sedans, delivery vans, and mobile food trucks. The company strongly focuses on sustainable mobility and aims to provide affordable, accessible, and environmentally-friendly transportation options.

Canoo Inc.s management team is led by Chief Executive Officer Tony Aquila, a technology industry veteran who previously served as CEO of Solera Holdings, a software and data provider for the insurance industry. Other key team members include Sohel Merchant, who previously worked for Tesla and Ford. 

Canoo Inc. is a relatively new company and has yet to generate significant revenue. The company has been reporting losses yearly since its inception in 2020. Canoo Inc. raised $300 million in its initial public offering (IPO) in December 2020; however, since then, Canoo Inc. has utilized all of its IPO monies and an additional $470 million in negative cash flow. Canoo Inc.'s valuation metrics are difficult to compare to industry peers due to the company's early stage of development and lack of revenue. The company's market capitalization is approximately $250 million. Canoo Inc.'s stock price has fluctuated significantly since its IPO, reaching a high of $20.28 in February 2021 before falling to a low of $0.54. The stock price has remained volatile. Canoo Inc.'s stock performance has been mixed since the company went public in December 2020. The stock price initially surged on news of the company's merger with Hennessy Capital Acquisition Corp. IV, reaching a high of $20.28 in February 2021. However, the stock price declined sharply in the following months, falling to a low of $0.54 in Q1 2023. 

Canoo Inc. operates in the highly competitive EV industry, which is rapidly evolving and subject to various regulatory and political pressures. The global EV market is expected to grow significantly in the coming years, driven by government incentives and a growing awareness of the environmental benefits of EVs. However, the industry is also subject to significant challenges, including the high cost of EV batteries and the need for charging infrastructure in many parts of the world. Canoo Inc.'s flexible skateboard platform and focus on affordable EVs could give it a competitive edge in this crowded market.

Canoo Inc. has several potential growth opportunities, including launching its first EV models and expanding its skateboard platform into new markets. The company has also announced plans to develop a subscription-based business model for its EVs. This could appeal to consumers who want the flexibility to switch vehicles without committing to a long-term purchase or lease. Additionally, Canoo Inc. has partnered with Hyundai Motor Group to co-develop EV platforms and technologies, which could provide the company with access to additional resources and expertise.

As with any company operating in a rapidly-evolving industry, Canoo Inc. faces various potential risks and challenges. One major challenge is the high cost of EV batteries, making it difficult for companies to achieve profitability. Canoo Inc. must manage its production costs carefully to remain competitive. Additionally, the company may face regulatory or political pressures, particularly in the United States, where the government has recently announced plans to increase funding for EVs and charging infrastructure. Canoo Inc. may face stiff competition from other established and emerging players in the EV market, including Tesla, General Motors, and Rivian.

GOEV Price History

GOEV Stock News Headlines

Canoo Inc.
Would Buffett Approve of This Growth Strategy?
Warren Buffett's approach has been to find and invest in undervalued businesses with strong potential for growth. Taking this approach to heart and applying it to a Trillion Dollar industry has proved itself in a big way...achieving an incredible 400+% growth during a down market.
Canoo Stock: Buy, Sell, or Hold?
Why Canoo Stock Bumped Higher on Tuesday
Canoo Has Invested $1.5 Billion, and It's Not Done Yet
Can a New CFO Save Canoo (GOEV) Stock?
Would Buffett Approve of This Growth Strategy?
Warren Buffett's approach has been to find and invest in undervalued businesses with strong potential for growth. Taking this approach to heart and applying it to a Trillion Dollar industry has proved itself in a big way...achieving an incredible 400+% growth during a down market.
Canoo surges following announced CFO change
Canoo Names Ethridge Chief Financial Officer
Canoo's Genius Strategy?
Why Canoo Stock Is Still Sinking
Should Investors Buy Canoo Stock on the Dip?
Why Canoo, Lucid, and Rivian Stocks All Just Dropped
H.C. Wainwright Sticks to Its Buy Rating for Canoo (GOEV)
QS Aug 2023 11.500 put
GOEV Jul 2023 1.500 call
See More Headlines
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GOEV Company Calendar

Last Earnings
8/14/2023
Today
9/28/2023
Next Earnings (Estimated)
11/08/2023
Fiscal Year End
12/31/2023

Industry, Sector and Symbol

Industry
Motor vehicle parts & accessories
Sub-Industry
N/A
Fax
N/A
Employees
812
Year Founded
N/A

Price Target and Rating

Average Stock Price Forecast
$4.76
High Stock Price Forecast
$10.00
Low Stock Price Forecast
$1.50
Forecasted Upside/Downside
+872.3%
Consensus Rating
Buy
Rating Score (0-4)
3.00
Research Coverage
2 Analysts

Profitability

Net Income
$-487,690,000.00
Pretax Margin
N/A

Debt

Sales & Book Value

Annual Sales
$2.55 million
Book Value
$0.61 per share

Miscellaneous

Free Float
536,604,000
Market Cap
$307.76 million
Optionable
Optionable
Beta
1.21
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Key Executives

  • Mr. Anthony AquilaMr. Anthony Aquila (Age 58)
    Exec. Chairman, CEO & Investor
    Comp: $500k
  • Ambassador Josette Sheeran (Age 68)
    Pres & Director
    Comp: $490k
  • Mr. Gregory D. Ethridge CPA (Age 46)
    CFO & Director
    Comp: $85k
  • Mr. Ramesh Murthy (Age 43)
    Sr. VP of Fin. & Chief Accounting Officer
    Comp: $350k
  • Mr. Sohel Merchant
    Founder & CTO
  • Mr. Hector Ruiz (Age 42)
    Gen. Counsel & Corp. Sec.
  • Agnes Gomes-Koizumi
    VP of Communications
  • Mr. Kunal Bhalla
    Sr. VP of Corp. Devel., Capital Markets & Purchasing
  • Mr. Richard Kim
    Chief Design Officer













GOEV Stock - Frequently Asked Questions

Should I buy or sell Canoo stock right now?

2 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Canoo in the last twelve months. There are currently 2 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" GOEV shares.
View GOEV analyst ratings
or view top-rated stocks.

What is Canoo's stock price forecast for 2023?

2 brokers have issued 1-year price objectives for Canoo's stock. Their GOEV share price forecasts range from $1.50 to $10.00. On average, they expect the company's share price to reach $4.76 in the next twelve months. This suggests a possible upside of 872.3% from the stock's current price.
View analysts price targets for GOEV
or view top-rated stocks among Wall Street analysts.

How have GOEV shares performed in 2023?

Canoo's stock was trading at $1.23 at the beginning of 2023. Since then, GOEV shares have decreased by 60.2% and is now trading at $0.4898.
View the best growth stocks for 2023 here
.

When is Canoo's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, November 8th 2023.
View our GOEV earnings forecast
.

How were Canoo's earnings last quarter?

Canoo Inc. (NYSE:GOEV) announced its quarterly earnings data on Monday, August, 14th. The company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates of ($0.19) by $0.05.

What ETF holds Canoo's stock ?

iShares Self-Driving EV and Tech ETF holds 2,148,197 shares of GOEV stock, representing 0.29% of its portfolio.

What is Canoo's stock symbol?

Canoo trades on the New York Stock Exchange (NYSE) under the ticker symbol "GOEV."

Who are Canoo's major shareholders?

Canoo's stock is owned by a number of retail and institutional investors. Top institutional investors include BlackRock Inc. (1.76%), Geode Capital Management LLC (0.85%), Charles Schwab Investment Management Inc. (0.36%), State Street Corp (0.32%), Citadel Advisors LLC (0.00%) and Renaissance Technologies LLC (0.26%). Insiders that own company stock include Global Holdings Ltd Dd, Hector M Ruiz, Josette Sheeran, Ramesh Murthy, Thomas A Dattilo and Tony Aquila.
View institutional ownership trends
.

How do I buy shares of Canoo?

Shares of GOEV stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Canoo's stock price today?

One share of GOEV stock can currently be purchased for approximately $0.49.

How much money does Canoo make?

Canoo (NYSE:GOEV) has a market capitalization of $307.76 million and generates $2.55 million in revenue each year. The company earns $-487,690,000.00 in net income (profit) each year or ($1.04) on an earnings per share basis.

How many employees does Canoo have?

The company employs 812 workers across the globe.

How can I contact Canoo?

Canoo's mailing address is 3485 N PINES WAY SUITE 110, WILSON WY, 83014. The official website for the company is www.canoo.com. The company can be reached via phone at 424-271-2144 or via email at canooir@icrinc.com.

This page (NYSE:GOEV) was last updated on 9/28/2023 by MarketBeat.com Staff

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