Ferrari (RACE)

• Market cap: $76.5B
• 1 day: 0.38%
• 5 days: -4.16%
• 1 month: -0.05%
• 3 months: -9.27%
• 6 months: 1.63%
• Year to date: 26.42%
• 1 year: 25.91%
• 5 years: 155.63%
• 10 years: 676.24%

About: Ferrari designs, engineers, and manufactures some of the world's most expensive luxury cars. With supply carefully controlled to be below demand and a brand steeped in decades of motor racing history, a Ferrari is viewed as a status symbol. In 2023, the company sold 13,663 vehicles at an average price over EUR 400,000 with more than 70% of its vehicles being sold to existing Ferrari clients. Eighty-six percent of revenue is generated from the sale of cars and spare parts and 10% from sponsorship, commercial, and brand activities including racing and lifestyle activities. In 2023, the Europe, Middle East, and Africa region accounted for 48% of revenue, the Americas was 30%, mainland China, Hong Kong, and Taiwan was 10%, and the rest of Asia was 13%.

Employees: 5,392

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

82% more first-time investments, than exits

New positions opened: 91 | Existing positions closed: 50

36% more repeat investments, than reductions

Existing positions increased: 272 | Existing positions reduced: 200

18% more capital invested

Capital invested by funds: $23.5B [Q2] → $27.7B (+$4.21B) [Q3]

13% more funds holding in top 10

Funds holding in top 10: 15 [Q2] → 17 (+2) [Q3]

6% more funds holding

Funds holding: 643 [Q2] → 684 (+41) [Q3]

1.73% more ownership

Funds ownership: 31.85% [Q2] → 33.59% (+1.73%) [Q3]

35% less call options, than puts

Call options by funds: $363M | Put options by funds: $558M

Research analyst outlook

3 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $513 20% upside
• Avg. target: $534 25% upside
• High target: $565 32% upside

3 analyst ratings

• positive: 3 100%
• neutral: 0 0%
• negative: 0 0%

UBS Susy Tibaldi 67% 1-year accuracy 2 / 3 met price target	20% upside $513	Buy Maintained	6 Nov 2024
Evercore ISI Group Michael Binetti 66% 1-year accuracy 31 / 47 met price target	32% upside $565	Outperform Maintained	22 Oct 2024
JP Morgan Ryan Brinkman 29% 1-year accuracy 12 / 41 met price target	23% upside $525	Overweight Upgraded	11 Oct 2024