FreeTheAI

QuantumScape Stock Gains as Wall Street Lowers Price Targets Ahead of Earnings

MixedMedium impact
QS$4.23 7.63%MS$182.10 0.33%

Shares of QuantumScape Corp. (QS) gained 7.63% in regular trading to close at $4.23 before adding another 0.33% in after-hours trading. The uptick comes as investors evaluate fresh price target reductions from Wall Street analysts while preparing for the company's upcoming quarterly financial report.

Morgan Stanley (MS) analyst Andrew Percoco lowered his price target on the solid-state lithium-metal battery maker to $5 from $9 while retaining an Equal-Weight rating. Earlier in the week, Evercore ISI Group analyst Chris McNally similarly reduced his price target to $7 from $10 with an In-Line rating. The target cuts follow a challenging year for QuantumScape, whose stock has declined 76.30% over the past 12 months and currently holds a market capitalization of approximately $2.62 billion.

Investors are now turning their attention to QuantumScape's third-quarter earnings release, scheduled for Wednesday, Oct. 21 after the market closes. In the previous quarter, the company reported a non-GAAP loss of 16 cents per share, surpassing consensus expectations of an 18-cent loss.

Key points

  • QuantumScape Corp. (QS) stock closed up 7.63% at $4.23 in regular trading and rose 0.33% in after-hours action.
  • Morgan Stanley analyst Andrew Percoco cut his price target on the stock to $5 from $9 while maintaining an Equal-Weight rating.
  • Evercore ISI analyst Chris McNally lowered his target on QuantumScape to $7 from $10 with an In-Line rating.
  • QuantumScape is set to report its third-quarter financial results after the market close on Wednesday, Oct. 21.
  • The stock has fallen 76.30% over the past 12 months, trading in a 52-week range between $3.80 and $18.56.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

How we writeDisclaimer

Questions and answers

Why did QuantumScape stock move after hours?

QuantumScape stock edged higher after rising 7.63% in regular trading as investors weighed analyst price target cuts from Morgan Stanley and Evercore ISI ahead of the company's third-quarter earnings report.

What are analysts' new price targets for QuantumScape?

Morgan Stanley lowered its price target to $5 from $9 with an Equal-Weight rating, while Evercore ISI cut its target to $7 from $10 with an In-Line rating.

When does QuantumScape report Q3 earnings?

QuantumScape will report its third-quarter financial results after the market close on Wednesday, Oct. 21.