Canoo Stock Forecast: Will it withstand corporate competition?

Canoo Stock Forecast: Will it withstand corporate competition?

Canoo Stock Forecast: The stock is expected to trade between $1.7 and $1.9. The overall recommendation is Hold.

Canoo Stock Forecast: Latest Price

Canoo Stock Forecast: Performance Chart

Stock Name 5 Days 1 Month 6 Months 1 Year
Canoo -17.8% 44.4% -77.2% -80.5%

Canoo Stock Forecast: Latest Tweet

Canoo Stock Forecast: Today’s Outlook

Indicator Trend
Overall Outlook Negative
Market Data 
Market Cap Lower
Technical Sell
Trading Volume Lower
Crowd’s Wisdom 
Google Search Volume Higher
Social Media Sentiment Negative

Also Read: LEV Stock Forecast

Canoo Stock Forecast 2022

The price targets for Canoo Stock for the 2nd half of 2022 have reached a high of $20.0 and a low of $3 – This represents a massive increase of +494.6% since the last year and a wide range which indicates volatility. The expected earnings per share for the 2nd quarter is $-0.5. Since the last four quarters, the earnings have been negative. For 2022, the EPS is expected to be $2.1. In the last few months, the management has mentioned several doubts about continuing and presented concerns that put investors on alert for bankruptcy.

It is having trouble keeping up with mainstream automakers’ competition. This is because those automakers have large amounts of capital and production capacity, they have also been in the market for a long time and due to their size, they are able to invest heavily in innovative technologies. The situation is not expected to take a turn anytime soon.

Canoo Stock Forecast: Latest Video

YouTube video

Canoo Stock Forecast: Competition Analysis

According to Zacks, Canoo falls into the Bottom 41% of its industry – It ranks 147th out of 250 firms. The stock has been compared to Volcon Inc. (VLCN), Firsker Inc (FSR), and Nikola Corporation (NKLA) – All the stocks except Nikola have been rated “Hold” indicating an industry-wide slowdown. GOEV is lagging behind in Earnings yield at -105.4% whereas VLCN has -100.7%, FSR has -19.6% and NKLA has -22.7%.

Canoo Stock Forecast: Google Trends

Canoo Stock: Competition Analysis

One of the stocks that have been performing similarly is Luminar Technologies (LAZR) – Both of the stocks went public at a similar time as well. The EPS for Canoo is $-2.0 while for Luminar it is $-0.7. As for profitability, the return on equity for Canoo is -94.6% and for Luminar it is -73.2%. Luminar proves to be more profitable but, it is also more volatile.

Currently, the confidence is higher for Luminar because of its sales performance. Canoo is having trouble keeping up with competition from larger firms like Nikola and others.

Canoo Stock Forecast: Technical Analysis

Nandini Panchal

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

Canoo stock forecast

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