Copart Stock Drops After Q2 Earnings: Here's Why

Core Viewpoint - Copart reported disappointing Q2 earnings, missing both earnings per share and revenue estimates, which has affected its stock performance [2]. Group 1: Financial Performance - Copart's quarterly earnings were 36 cents per share, missing the consensus estimate of 40 cents [2]. - Quarterly revenue was $1.12 billion, below the Street estimate of $1.14 billion and down from $1.16 billion in the same period last year [2]. Group 2: Market Reaction - Copart shares were down 0.26% during regular trading and down 11.16% in after-hours trading, with the last trading price at $33.45 [3]. - The company will hold a conference call on Thursday at 5:30 p.m. ET to discuss the results [2]. Group 3: Analyst Ratings - Copart stock carries a Buy rating with an average price target of $36.27 [3]. - Recent analyst moves include JPMorgan lowering its target to $45, Barclays raising its target to $33, and Baird lowering its target to $52 [3].