TLDR
- Ferrari stock dropped over 14% on Thursday, marking its worst trading day since going public on the NYSE in 2015, after announcing conservative 2030 financial targets below Wall Street expectations.
- The company set a 2030 revenue goal of €9 billion and adjusted core profit target of at least €3.6 billion, with analysts at Citi calling the guidance below their projections.
- Ferrari scaled back its electric vehicle ambitions from 40% to just 20% of its 2030 lineup, now planning 40% internal combustion, 40% hybrid, and 20% electric models.
- The luxury automaker unveiled its first fully electric vehicle, the Elettrica, featuring in-house battery packs and motors, with a top speed of 310 km/h and 530 km range, scheduled for global premiere next year and deliveries in late 2026.
- Despite the selloff, Ferrari shares rebounded over 1% in premarket Friday trading as retail sentiment turned “extremely bullish” with some investors viewing the dip as a buying opportunity.
Ferrari shares took their biggest hit since the company’s NYSE debut 10 years ago. The stock plunged nearly 15% on Thursday after management presented financial targets that landed well short of what Wall Street wanted to see.
U.S.-listed shares opened down roughly 13% at $419.18. The selloff came after Ferrari’s Capital Markets Day event in Maranello, where executives laid out their vision through 2030.
The Italian automaker raised its 2025 revenue forecast to at least €7.1 billion. That’s up from a previous target of more than €7 billion.
But it was the 2030 numbers that spooked investors. Ferrari expects revenue of around €9 billion by the end of the decade.
The company is targeting adjusted EBITDA of at least €3.6 billion for 2030. Citi analysts said these figures fell below their lower growth estimates.
They added that the guidance implies limited operating leverage in the coming years. The conservative outlook from management could pressure both earnings estimates and valuation multiples.
Electric Dreams Get Downsized
Ferrari made an even bigger change to its electrification strategy. The company now plans its 2030 sports car lineup to consist of 40% internal combustion vehicles, 40% hybrids, and 20% fully electric models.
That’s a sharp cut from the previous goal of 40% EV sales by 2030. CEO Benedetto Vigna said the decision reflects what clients want and current market realities.
The company did unveil its first electric vehicle during the event. The Elettrica features in-house battery packs and electric motors developed at Ferrari’s new e-building facility.
The production-ready chassis was shown to investors and media. The completed car will reach a top speed of 310 km/h and offer a range of at least 530 km.
A specially engineered sound system will amplify authentic powertrain vibrations. Ferrari says this gives the car a distinct “electric Ferrari” identity.
The global premiere is scheduled for next year. Deliveries will start in late 2026.
Analyst Reactions Split
CFRA maintained its Sell rating with a $350 price target. The firm based this on a 2026 P/E of 30x versus Ferrari’s 10-year average multiple of 40x.
CFRA kept earnings forecasts at €8.80 for 2025 and €10.15 for 2026. The brokerage warned that Ferrari’s powertrain mix adds “a high degree of revenue and margin uncertainty.”
They called for lower valuation multiples. The strategy could face shareholder pushback, according to CFRA.
JPMorgan took a different view. Their analysts expressed confidence in management’s execution ability.
They pointed to evidence that demand still far exceeds supply for Ferrari vehicles. JPMorgan highlighted Vigna’s collaborative leadership style and focus on innovation.
Retail Traders See Opportunity
Friday brought some relief. Ferrari shares rose over 1% in premarket trading as bargain hunters stepped in.
Retail sentiment on Stocktwits flipped to “extremely bullish.” Message volume surged 13,100% in 24 hours.
One user said expectations for the next earnings report were already low. They would buy more shares if the stock dropped toward $340.
Another called the stock “a bargain” at current levels. The active customer base has grown 20% since 2022 to 90,000 clients.
Ferrari plans to launch flagships in London and New York in 2026. Customization hubs will open in Tokyo and Los Angeles in 2027.
The company will launch an average of four new cars per year between 2026 and 2030. According to Koyfin, Ferrari’s 12-month average price target suggests a 26.5% upside from its current price of $407.38.
Of 13 covering analysts, three rate it a Strong Buy, five a Buy, four a Hold, and one a Sell. The average rating is 3.85 on a five-point scale.
U.S.-listed shares of Ferrari have declined 3.4% so far in 2025. The Elettrica will start deliveries in late 2026 following its global premiere next year.
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