On September 11, Copart rose 5.69% in after-hours trading, trading at approximately $34.05 per share, with turnover of $11.40 million. The move comes on the heels of the company's latest quarterly earnings release on September 10 post-market, for which consensus estimates had projected revenue of $1.141 billion, representing a 0.49% year-over-year increase, and adjusted earnings per share of $0.38, up 5.90% year-over-year. In the prior quarter, Copart had beaten estimates with EPS of $0.43 versus the $0.41 consensus and revenue of $1.237 billion versus the $1.195 billion estimate.

Adding to bullish sentiment, JPMorgan upgraded Copart to overweight from neutral on September 4 and raised its price target to $40 from $32, a move that had already lifted shares 4% at the time. Separately, reports in August indicated Copart was in discussions to acquire car-insurance software provider CCC Intelligent Solutions, competing with private equity firms including GTCR and Veritas Capital. The analyst consensus maintains an average overweight rating with a mean price target of $39.12.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)