Bernstein Sticks to Its Buy Rating for Ferrari (RACE)

In a report released today, Daniel Roeska from Bernstein maintained a Buy rating on Ferrari (RACE – Research Report). The company’s shares closed yesterday at $486.76.

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Roeska covers the Consumer Cyclical sector, focusing on stocks such as Rivian Automotive, General Motors, and Stellantis. According to TipRanks, Roeska has an average return of 4.1% and a 47.91% success rate on recommended stocks.

In addition to Bernstein, Ferrari also received a Buy from Barclays’s Henning Cosman in a report issued on May 8. However, on the same day, DBS maintained a Hold rating on Ferrari (NYSE: RACE).

Based on Ferrari’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.74 billion and a net profit of $384.71 million. In comparison, last year the company earned a revenue of $1.52 billion and had a net profit of $293.51 million

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RACE in relation to earlier this year.