EquipmentShare.com (NASDAQ:EQPT) Shares Down 7.1% – What’s Next?

EquipmentShare.com Inc (NASDAQ:EQPT)’s stock price fell 7.1% during mid-day trading on Tuesday . The company traded as low as $22.20 and last traded at $22.17. 1,896,879 shares traded hands during trading, an increase of 6% from the average session volume of 1,788,284 shares. The stock had previously closed at $23.86.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EQPT. Citigroup boosted their price objective on EquipmentShare.com from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday. Robert W. Baird cut their price objective on EquipmentShare.com from $63.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, March 20th. Citizens Jmp began coverage on EquipmentShare.com in a research note on Tuesday, February 17th. They set a “market outperform” rating and a $42.00 price objective for the company. Wells Fargo & Company cut their price objective on EquipmentShare.com from $35.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, April 13th. Finally, KeyCorp started coverage on EquipmentShare.com in a research note on Tuesday, February 17th. They issued a “sector weight” rating for the company. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $40.25.

EquipmentShare.com Price Performance

The business has a 50 day moving average of $22.38.

EquipmentShare.com (NASDAQ:EQPT) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.15. The business had revenue of $989.00 million during the quarter. The firm’s quarterly revenue was up 38.1% compared to the same quarter last year. Equities analysts forecast that EquipmentShare.com Inc will post 0.48 EPS for the current year.

Insider Activity

In other news, Director Naveen Bhatia acquired 10,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were acquired at an average cost of $24.22 per share, with a total value of $242,200.00. Following the acquisition, the director directly owned 312,000 shares of the company’s stock, valued at approximately $7,556,640. The trade was a 3.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

About EquipmentShare.com

EquipmentShare.com Inc provides integrated, full-service construction solutions across equipment rental, sales and technology. EquipmentShare.com Inc is based in Columbia, Missouri.