Nikola Corporation (NKLA)

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Nikola Earnings Previews

Earnings Previews: Alibaba, ConocoPhillips, Nikola, Paramount Global
Paul Ausick
August 2, 2022 1:28 pm

Over the past 12 months, electric and hydrogen-powered truck maker Nikola Corp. (NASDAQ: NKLA) has seen its share price tumble by 37.8%. Since reaching a peak in early June of 2020, just a week after the IPO, Nikola stock is down by about 91%. The company announced Tuesday morning that it will acquire battery maker Romeo Power for $144 in Nikola stock. The company recently asked a federal judge to quash a subpoena from founder and former CEO Trevor Milton who is defending himself against criminal fraud charges.

Just eight analysts cover the stock and seven of those have given it a Hold rating. The other one rates the stock a Buy. At the current price of around $7.00, the upside potential based on a median price target of $8.00 is 14.3%. At the high price target of $15.00, the implied gain is 114.3%.

Analysts are forecasting second-quarter revenue at $16.58 million and expect Nikola to report a loss per share of $0.27. In the prior quarter, Nikola reported a loss of $0.21 per share and no revenue. For the full year, the company is expected to lose $1.09 per share, more than the loss per share of $0.79 in 2021. Analysts also expect Nikola to report $114.85 million in revenue for the full fiscal year. The company did not report any revenue last year.

Nikola is not expected to post a profit in 2022, 2023, or 2024. The enterprise value to sales multiple for 2022 is 22.8. For 2023 and 2024, the multiple is 4.2 and 1.7, respectively. The stock currently trades at an estimated sales to enterprise value multiple of 18.3 times for 2022 and 3.2 times for 2023. The stock’s 52-week range is $4.42 to $15.56. Nikola does not pay a dividend. The total shareholder return for the past 12 months is negative 37%.
https://247wallst.com/investing/2022/08/02/earnings-previews-alibaba-conocophillips-nikola-paramount-global/