Is Trending Stock Nikola Corporation (NKLA) a Buy Now?

Core Viewpoint - Nikola's stock has experienced a significant decline of -15.9% over the past month, contrasting with the S&P 500's +2% performance, raising questions about its future direction [2]. Earnings Estimate Revisions - Nikola is projected to report a loss of $0.10 per share for the current quarter, reflecting a year-over-year improvement of +50% [5]. - The consensus earnings estimate for the current fiscal year stands at -$0.42, indicating a year-over-year change of +46.8% [5]. - For the next fiscal year, the consensus estimate is -$0.30, which represents a +28.6% change from the previous year [6]. - The Zacks Rank for Nikola is 3 (Hold), suggesting it may perform in line with the broader market in the near term [7]. Revenue Growth Forecast - The consensus sales estimate for the current quarter is $21.58 million, showing a year-over-year increase of +40.5% [10]. - For the current fiscal year, the sales estimate is $117.75 million, indicating a +224.6% change, while the next fiscal year's estimate is $404.39 million, reflecting a +243.4% change [10]. Last Reported Results and Surprise History - In the last reported quarter, Nikola generated revenues of $7.5 million, a decrease of -32.6% year-over-year, and reported an EPS of -$0.09 compared to -$0.26 a year ago [11]. - The reported revenues fell short of the Zacks Consensus Estimate of $15.05 million by -50.2%, while the EPS surprise was 0% [11]. - Over the last four quarters, Nikola exceeded consensus EPS estimates twice and surpassed revenue estimates once [12]. Valuation - Nikola is graded F in the Zacks Value Style Score, indicating it is trading at a premium compared to its peers [16].