Canoo Inc. (GOEV) closed the latest trading day at $1.05, indicating a +0.96% change from the previous session's end. The stock exceeded the S&P 500, which registered a loss of 0.29% for the day. Meanwhile, the Dow experienced a drop of 0.25%, and the technology-dominated Nasdaq saw a decrease of 0.31%.

Heading into today, shares of the company had lost 24.64% over the past month, lagging the Auto-Tires-Trucks sector's gain of 2.42% and the S&P 500's gain of 1.57% in that time.

Analysts and investors alike will be keeping a close eye on the performance of Canoo Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.91, showcasing a 43.48% upward movement from the corresponding quarter of the prior year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$3.72 per share and a revenue of $34.47 million, indicating changes of +61.77% and +3790%, respectively, from the former year.

Investors should also note any recent changes to analyst estimates for Canoo Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Canoo Inc. boasts a Zacks Rank of #3 (Hold).

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 168, finds itself in the bottom 34% echelons of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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