Critical Survey: Canoo (GOEV) vs. Its Rivals

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

Analyst Recommendations

This is a breakdown of current ratings and price targets for Canoo and its competitors, as reported by MarketBeat.com.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score
Canoo 1 1 1 0 2.00
Canoo Competitors 579 2319 2744 75 2.40

Canoo currently has a consensus price target of $11.33, indicating a potential upside of 19.68%. As a group, “Motor vehicle parts & accessories” companies have a potential upside of 3.18%. Given Canoo’s higher probable upside, equities research analysts clearly believe Canoo is more favorable than its competitors.

Risk and Volatility

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

Profitability

This table compares Canoo and its competitors’ 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 -29.59% 2.48% -0.04%

Insider and Institutional Ownership

9.5% of Canoo shares are owned by institutional investors. Comparatively, 59.6% of shares of all “Motor vehicle parts & accessories” companies are owned by institutional investors. 5.4% of Canoo shares are owned by company insiders. Comparatively, 13.2% of shares of all “Motor vehicle parts & accessories” companies are owned by company insiders. Strong institutional ownership is an indication that hedge funds, large money managers and endowments believe a company is poised for long-term growth.

Earnings & Valuation

This table compares Canoo and its competitors revenue, earnings per share and valuation.

Gross Revenue Net Income Price/Earnings Ratio
Canoo $2.55 million -$89.81 million -6.81
Canoo Competitors $4.89 billion -$64.31 million -53.90

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

Summary

Canoo competitors 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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