Copart Stock Forward View - Double Exponential Smoothing
| CPRT Stock | USD 32.86 0.34 1.05% |
The reference data on this page reflects Double Exponential Smoothing output applied to Copart Inc's historical daily closing prices. Forecast values and accuracy statistics are presented for informational purposes.
The Double Exponential Smoothing forecasted value of Copart Inc on the next trading day is expected to be 32.65 with a mean absolute deviation of 0.57 and the sum of the absolute errors of 34.17.When Copart Inc prices exhibit either an increasing or decreasing trend over time, simple exponential smoothing forecasts tend to lag behind observations. Double exponential smoothing is designed to address this type of data series by taking into account any Copart Inc trend in the prices. So in double exponential smoothing past observations are given exponentially smaller weights as the observations get older. In other words, recent Copart observations are given relatively more weight in forecasting than the older observations. The forecast reference data presented here for Copart Inc reflects Double Exponential Smoothing model output and is intended as reference material for analytical use. Double Exponential Smoothing Price Forecast For the 22nd of March
Given 90 days horizon, the Double Exponential Smoothing forecasted value of Copart Inc on the next trading day is expected to be 32.65 with a mean absolute deviation of 0.57 , mean absolute percentage error of 0.55 , and the sum of the absolute errors of 34.17 .Please note that although there have been many attempts to predict Copart Stock prices using its time series forecasting, we generally do not suggest using it to place bets in the real market. The most commonly used models for forecasting predictions are the autoregressive models, which specify that Copart's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Stock Forecast Pattern
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Forecasted Value
For the next trading day, Macroaxis evaluates Copart's predictive range by looking for statistically meaningful downside and upside boundaries. At the moment, the model places downside around 30.72 and upside around 34.58 for the forecasting period.
Model Predictive Factors
The below table displays some essential indicators generated by the model showing the Double Exponential Smoothing forecasting method's relative quality and the estimations of the prediction error of Copart stock data series using in forecasting. Note that when a statistical model is used to represent Copart stock, the representation will rarely be exact; so some information will be lost using the model to explain the process. AIC estimates the relative amount of information lost by a given model: the less information a model loses, the higher its quality.| AIC | Akaike Information Criteria | Huge |
| Bias | Arithmetic mean of the errors | -0.1052 |
| MAD | Mean absolute deviation | 0.5695 |
| MAPE | Mean absolute percentage error | 0.015 |
| SAE | Sum of the absolute errors | 34.17 |
Other Forecasting Options for Copart
Understanding Copart's price movement is a prerequisite for any investor considering Copart as a position. Copart Stock price charts are frequently cluttered with noise that can interfere with accurate interpretation.Copart Related Equities
The following equities are related to Copart within the Industrials space and can be used for peer comparison, relative valuation, or portfolio diversification. Comparing Copart against peers on metrics such as P/E, margins, and return on equity helps contextualize its positioning and identify relative strengths or weaknesses.
| Risk & Return | Correlation |
Copart Market Strength Events
For traders and investors in Copart Inc, market strength indicators offer a quantitative framework for evaluating the stock's responsiveness to market conditions. These tools help identify when trading Copart shares is most likely to generate favorable returns.
| Accumulation Distribution | 220919.0 | |||
| Daily Balance Of Power | 0.5574 | |||
| Rate Of Daily Change | 1.01 | |||
| Day Median Price | 32.76 | |||
| Day Typical Price | 32.79 | |||
| Price Action Indicator | 0.27 | |||
| Period Momentum Indicator | 0.34 |
Copart Risk Indicators
Analyzing Copart's risk indicators provides a critical input for price forecasting and investment risk management. By quantifying the risk in Copart's investment, investors can make more informed decisions about their exposure and hedging strategies.
| Mean Deviation | 1.34 | |||
| Standard Deviation | 1.87 | |||
| Variance | 3.49 |
Please note, the risk measures we provide can be used independently or collectively to perform a risk assessment. When comparing two potential investments, we recommend comparing similar equities with homogenous growth potential and valuation from related markets to determine which investment holds the most risk.
Story Coverage note for Copart
Coverage intensity for Copart Inc matters because narrative visibility can influence sentiment, participation, and volatility around the name. A disciplined read of coverage separates durable relevance from temporary noise.
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Copart Short Properties
Short sentiment tied to Copart Inc matters because heavier bearish pressure can change how quickly future price expectations become unstable. The practical goal is to identify when the balance between long and short participation may be changing the quality of the setup.
| Common Stock Shares Outstanding | 977.6 M | |
| Cash And Short Term Investments | 4.8 B |
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