in 2015 Ferrari had a drop in its stock price after its initial public offering however since then Ferrari's stock has been on the rise going up by as much as 941 until July of this year currently Ferrari's stock is showing positive signs and is heading towards a new buy point it's even been doing better than Tesla in a key stock rating Ferrari's stock has a top composite rating of 99 along with light Auto making them the highest rated in this category for Ferrari slightly surpasses stellantis with a rating of 98 and Tesla still maintains an impressive 97 rating it's interesting to note that Ferrari and stellantis have a historical connection Ferrari was separated from Fiat Chrysler in 2016 and Fiat Chrysler is now a part of stellantis among automakers Ferrari stock along with Tesa Li Auto stellantis and Toyota Moto is leading the pack this automaker group is currently ranked at a strong 26 out of the 197 Industries tracked by Investors Business Daily while Tesla's stock is featured in the IBD 50 and IBD big cap 20 lists Ferrari's stock is part of the latest IBD breakout stocks index stellantis on the other hand is listed with tester in the IBB big cap 20 which consists of top rated large cap stocks Ferrari which was founded by Enzo Ferrari in 1939 has expanded its brand into various lifestyle products like clothing and eyewear they'd even open theme parks like Ferrari World Abu Dhabi and Ferrari land Barcelona Ferrari's stock has been showing impressive growth in recent quarters over the past four quarters their sales have increased from 1.2 billion in the third quarter of the previous year to over $1.6 billion in the second quarter of 2023 marking a 19% gain compared to the same quarter in 2022 earnings per share growth for Ferrari has also been on the rise after a 6% slowdown in the third quarter of 2022 the company saw a 40% increase in earnings growth to $2 per share year-over-year analysts are predicting a 29% growth for the current year at a 16% growth in 2024 Ferrari is scheduled to report its third quarter earnings on November 2 in the current market conditions a common chart pattern known as the double bottom has emerged for Ferrari's stock the buy point for this pattern is at 322.34 as the base formed the stock went above and below its 10 we moving average and it's currently testing that Benchmark line due to recent Market fluctuations the relative strength line for Ferrari stock is also close to a 52- we High indicating the potential for a breakout meanwhile Tesla's stock is navigating through its own ups and downs with a cup with handle pattern showing a point on Tuesday stant's stock briefly entered the buying range just past a buy point of 20 however early on Wednesday it slipped below that entry point cantas is set to report earnings on October 31 and investors are hoping for positive results
