EquipmentShare.com (NASDAQ:EQPT) Sees Unusually-High Trading Volume Following Strong Earnings

Shares of EquipmentShare.com Inc (NASDAQ:EQPT) saw an uptick in trading volume on Thursday following a better than expected earnings announcement. 2,315,613 shares traded hands during mid-day trading, an increase of 37% from the previous session’s volume of 1,687,971 shares.The stock last traded at $24.6340 and had previously closed at $25.95.

The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.15. The company had revenue of $989.00 million during the quarter. EquipmentShare.com’s quarterly revenue was up 38.1% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EQPT. Truist Financial dropped their target price on shares of EquipmentShare.com from $41.00 to $34.00 and set a “buy” rating for the company in a report on Monday, April 20th. Oppenheimer began coverage on shares of EquipmentShare.com in a report on Tuesday, February 17th. They issued an “outperform” rating and a $39.00 target price for the company. Citizens Jmp began coverage on shares of EquipmentShare.com in a report on Tuesday, February 17th. They issued a “market outperform” rating and a $42.00 target price for the company. Robert W. Baird dropped their target price on shares of EquipmentShare.com from $63.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, March 20th. Finally, UBS Group began coverage on shares of EquipmentShare.com in a report on Tuesday, February 17th. They issued a “neutral” rating and a $36.00 target price for the company. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $38.88.

EquipmentShare.com Trading Down 9.4%

The firm has a 50 day simple moving average of $22.71.

EquipmentShare.com Company Profile

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