Ferrari (RACE) stock tumbled in pre-market trading Thursday, falling more than 10% to $431.12 after the automaker’s new decade outlook underwhelmed investors. The drop came as Ferrari’s updated 2030 financial targets fell short of analyst expectations, overshadowing the much-anticipated reveal of its first electric vehicle, the Elettrica.
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The luxury automaker now expects adjusted earnings of €11.50 per share and €9 billion in revenue by 2030, with the latter figure falling below the €9.8 billion revenue target analysts had forecast.
Ferrari Adjusts Its Near-Term Outlook
At its Capital Markets Day in Maranello, Italy, Ferrari also slightly raised its 2025 guidance. The company now projects profit of at least €8.80 per share on €7.1 billion in revenue, up from its earlier forecast of €8.60 per share on €7 billion.
Executives said most profit growth would come from higher-margin limited-edition models and customizations rather than sales volumes, reflecting Ferrari’s focus on exclusivity over scale.
Ferrari Scales Back Its Electric Ambitions
Investors were more concerned by Ferrari’s revised electric vehicle strategy. After showcasing the chassis and powertrain for its first EV, the Elettrica, which will begin deliveries in 2026, Ferrari said electric models will now account for just 20% of its lineup by 2030. That’s a major downgrade from its previous goal of 40%.
The company said it plans to roll out an average of four new models per year between 2026 and 2030, with a continued emphasis on hybrid and internal combustion engines.
Ferrari Expands Customization and Global Reach
Ferrari plans to open new “Tailor Made” personalization hubs in Tokyo and Los Angeles by 2027, expanding access for clients to design bespoke vehicles. The move aligns with its long-term focus on ultra-premium experiences and customer exclusivity.
Despite Thursday’s selloff, Ferrari shares remain up 43% year-to-date.
Is Ferrari Stock a Good Buy Now?
Ferrari (RACE) maintains a Moderate Buy consensus from 13 Wall Street analysts, reflecting ongoing cautious confidence in the automaker’s long-term growth story despite its recent selloff.
Out of the total ratings, 11 analysts recommend a Buy and two rate it as a Sell, with no Hold ratings issued in the past three months.
The average 12-month RACE price target stands at $542.12, implying a potential 13.13% upside from the current price.
