Posted 12/29/2023, 10:45:17 PM
Nikola Stock Underperforms as Earnings Growth Expected Despite Revenue Decline
- Nikola (NKLA) stock fell 1.38% on latest trading day, underperforming broader market indexes like the S&P 500
- NKLA stock has lagged its sector and the S&P 500 over the past month, dropping 8.78%
- NKLA expected to post 123% year-over-year revenue growth in upcoming earnings report
- Analysts anticipate 18.92% EPS growth and 22.41% revenue decline for NKLA in full fiscal year
- NKLA currently has Zacks Rank of #3 (Hold); automotive industry ranks in bottom 39% of Zacks sectors