RACE Stock Summary and Trading Ideas (Ferrari N.V. Common Shares | NYSE:RACE)

Ferrari designs, engineers, and manufactures some of the world's most expensive luxury cars. With supply carefully controlled to be below demand and a brand steeped in decades of motor racing history, a Ferrari is viewed as a status symbol. In 2023, the company sold 13,663 vehicles at an average price over EUR 400,000 with more than 70% of its vehicles being sold to existing Ferrari clients. Eighty-six percent of revenue is generated from the sale of cars and spare parts and 10% from sponsorship, commercial, and brand activities including racing and lifestyle activities. In 2023, the Europe, Middle East, and Africa region accounted for 48% of revenue, the Americas was 30%, mainland China, Hong Kong, and Taiwan was 10%, and the rest of Asia was 13%.

Ferrari N.V. Common Shares trades on the NYSE stock market under the symbol RACE.

As of December 20, 2024, RACE stock price climbed to $426.93 with 251,747 million shares trading.

RACE has a beta of 0.85, meaning it tends to be less sensitive to market movements. RACE has a correlation of 0.15 to the broad based SPY ETF.

RACE has a market cap of $76.53 billion. This is considered a Large Cap stock.

Last quarter Ferrari N.V. Common Shares reported $2 billion in Revenue and $2.29 earnings per share. This beat revenue expectation by $27 million and exceeded earnings estimates by $.13.

In the last 3 years, RACE traded as high as $498.23 and as low as $167.45.

The top ETF exchange traded funds that RACE belongs to (by Net Assets): DIHP, DFAI, IMFL, DFIC, IDHQ.

RACE has underperformed the market in the last year with a price return of +26.7% while the SPY ETF gained +27.8%. RACE has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -9.3% and -6.9%, respectively, while the SPY returned +4.4% and -2.4%, respectively.

RACE support price is $419.56 and resistance is $431.05 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that RACE shares will trade within this expected range on the day.