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

Ferrari engineers and manufactures some of the world's most expensive exotic sports cars. The Ferrari brand is synonymous with Formula One racing, exclusivity, Italian design, and state-of-the-art technology. Ferrari also has a captive finance company that provides funding for dealers and clients. In 2023, Europe, Middle East, and Africa accounted for 48% of revenue, the Americas was 30%, China was 10%, and the rest of Asia was 12%.

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

As of April 26, 2024, RACE stock price climbed to $422.46 with 210,075 million shares trading.

RACE has a beta of 1.25, meaning it tends to be more sensitive to market movements. RACE has a correlation of 0.34 to the broad based SPY ETF.

RACE has a market cap of $76.14 billion. This is considered a Large Cap stock.

Last quarter Ferrari N.V. Common Shares reported $2 billion in Revenue and $1.74 earnings per share. This beat revenue expectation by $9 million and exceeded earnings estimates by $.12.

In the last 3 years, RACE stock traded as high as $442.80 and as low as $167.45.

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

RACE has outperformed the market in the last year with a price return of +54.4% while the SPY ETF gained +27.4%. RACE has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +25.0% and +3.6%, respectively, while the SPY returned +4.6% and -0.5%, respectively.

RACE support price is $405.63 and resistance is $418.79 (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 stock will trade within this expected range on the day.