Copart (CPRT) Stock

Shares of Copart, Inc. (CPRT), a company that auctions, resells, and salvages vehicles, have risen due to strong sales results.

On Friday, November 22, the stock price of Copart (NASDAQ: CPRT), an online car auction firm, increased by 10%. This rise is linked to the company's positive quarterly performance.

Copart announced a revenue of $1.15 billion, which is $46.9 million more than expected, showing a 12% increase compared to last year, thanks to growth in both local and international markets. Their international service revenue jumped by 30%, demonstrating Copart's effective global expansion, while their international gross profit rose by 44%. Additionally, Copart's ability to maintain strong average selling prices, despite trends in the wider used vehicle market, reinforces its competitive edge.

Copart, Inc. (CPRT) has hit an important support level, making it an attractive option for investors based on technical analysis. Recently, CPRT's 50-day simple moving average crossed above its 200-day moving average, which is referred to as a "golden cross."

Copart's stock increased by 9% today. This rise in value is likely due to positive news or developments related to the company. Investors may have reacted favorably to these updates, driving the stock price higher.

CPRT's earnings for the first quarter are in line with the Zacks Consensus Estimate, and their revenues have exceeded expectations.

Copart, Inc. (NASDAQ:CPRT) will hold its Q1 2025 Earnings Conference Call on November 21, 2024, at 5:30 PM ET. The call will feature company representatives, including CEO Jeff Liaw and CFO Leah Stearns, along with participants from various financial institutions. Please note that this conference is being recorded.

Copart, Inc. (CPRT) reported quarterly earnings of $0.37 per share, matching the Zacks Consensus Estimate. This is an increase from earnings of $0.34 per share from the same period last year.

On Thursday, Copart, a company that offers online vehicle auctions, announced that its first-quarter revenue was higher than anticipated, thanks to strong sales of salvage vehicles.