Copart Gains 4% in After-Hours On Quarterly Sales Win

Shares of Copart rose 4% in after-market trading on Wednesday after the online auction and vehicle services provider reported better-than-expected 4Q results.Copart’s (CPRT) 4Q revenue of $525.7 million came ahead of the Street consensus of $420.1 million. It's adjusted EPS jumped 15% to $0.69 year-over-year and surpassed analysts’ expectations of $0.39.On Aug. 31, Barrington Research analyst Gary Prestopino reaffirmed his Hold rating on the stock citing stronger-than-expected improvement in vehicle miles driven. Prestopino noted that “Since late April, the market has seen a stronger improvement than originally anticipated with markets reopening and vehicle miles driven rebounding from the March-April time frame.” (See CPRT stock analysis on TipRanks).Overall, the Street has a cautiously optimistic outlook on the stock. The Moderate Buy analyst consensus is based on 2 Buys and 4 Holds. The average price target of $93.33 implies a downside potential of about 11% to current levels. Shares are up more than 15% year-to-date.Related News: Roth Lifts Gogo’s PT After Commercial Aviation Unit Sale DraftKings In The Spotlight As Michael Jordan Joins Board; Stock Rises 4% Medtronic’s Organizational Revamp To Cut Costs By Up To $475M More recent articles from Smarter Analyst: * Five Spikes 7% In After-Hours As 2Q Sales Top Estimates * Ambarella Drops 3% In Pre-Market On Dim 3Q Sales Outlook * United Airlines To Slash 16,370 Jobs As Travel Rebound Stalls * Costco August Sales Jump 15% As E-Commerce Explodes 102%