Canoo (GOEV) & Its Rivals Critical Survey

Canoo (NYSE: GOEV) is one of 66 public companies in the “Motor vehicle parts & accessories” industry, but how does it contrast to its rivals? We will compare Canoo to similar businesses based on the strength of its institutional ownership, analyst recommendations, earnings, profitability, dividends, risk and valuation.

Profitability

This table compares Canoo and its rivals’ net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets
Canoo N/A -40.90% -23.35%
Canoo Competitors -12.28% 5.55% 1.63%

Analyst Recommendations

This is a summary of recent recommendations and price targets for Canoo and its rivals, as reported by MarketBeat.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score
Canoo 1 1 1 0 2.00
Canoo Competitors 577 2315 2738 75 2.41

Canoo presently has a consensus price target of $12.00, indicating a potential upside of 22.95%. As a group, “Motor vehicle parts & accessories” companies have a potential downside of 1.85%. Given Canoo’s higher probable upside, analysts clearly believe Canoo is more favorable than its rivals.

Risk & Volatility

Canoo has a beta of 0.24, suggesting that its share price is 76% less volatile than the S&P 500. Comparatively, Canoo’s rivals have a beta of 1.89, suggesting that their average share price is 89% more volatile than the S&P 500.

Valuation & Earnings

This table compares Canoo and its rivals revenue, earnings per share (EPS) and valuation.

Gross Revenue Net Income Price/Earnings Ratio
Canoo $2.55 million -$89.81 million -7.02
Canoo Competitors $4.89 billion -$64.28 million -60.01

Canoo’s rivals have higher revenue and earnings than Canoo. Canoo is trading at a higher price-to-earnings ratio than its rivals, indicating that it is currently more expensive than other companies in its industry.

Institutional and Insider Ownership

9.5% of Canoo shares are held by institutional investors. Comparatively, 60.7% of shares of all “Motor vehicle parts & accessories” companies are held by institutional investors. 5.4% of Canoo shares are held by company insiders. Comparatively, 13.1% of shares of all “Motor vehicle parts & accessories” companies are held by company insiders. Strong institutional ownership is an indication that large money managers, hedge funds and endowments believe a company will outperform the market over the long term.

Summary

Canoo rivals beat Canoo on 10 of the 13 factors compared.

About Canoo

Canoo Inc., a mobility technology company, designs, engineers, develops, and manufactures electric vehicles for commercial and consumer markets in the United States. The company offers B2B delivery vehicles, multi-purpose delivery vehicles, and lifestyle vehicles using skateboard architecture technology. It intends to serve small businesses, independent contractors, service technicians, retailers, corporations, logistics companies, fleet managers, and others. The company was incorporated in 2017 and is headquartered in Torrance, California.

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