Wedbush Has Bullish Outlook for VinFast Auto FY2024 Earnings

VinFast Auto Ltd. (NASDAQ:VFS) – Equities research analysts at Wedbush increased their FY2024 earnings per share estimates for shares of VinFast Auto in a research note issued on Wednesday, November 27th. Wedbush analyst D. Ives now forecasts that the company will post earnings of ($1.03) per share for the year, up from their previous forecast of ($1.09). The consensus estimate for VinFast Auto’s current full-year earnings is ($1.03) per share. Wedbush also issued estimates for VinFast Auto’s Q4 2024 earnings at ($0.20) EPS, Q1 2025 earnings at ($0.21) EPS and FY2025 earnings at ($0.78) EPS.

Separately, Cantor Fitzgerald reiterated an “overweight” rating and issued a $6.00 price target on shares of VinFast Auto in a research note on Monday, September 30th.

VinFast Auto Price Performance

VFS opened at $4.04 on Monday. The company has a 50-day moving average of $3.90 and a 200-day moving average of $4.05. VinFast Auto has a 1-year low of $2.26 and a 1-year high of $8.78.

VinFast Auto (NASDAQ:VFS) last issued its quarterly earnings results on Friday, September 20th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.09). The company had revenue of $357.39 million for the quarter, compared to analyst estimates of $583.76 million.

Institutional Trading of VinFast Auto

Several institutional investors have recently added to or reduced their stakes in VFS. GSA Capital Partners LLP bought a new position in shares of VinFast Auto during the third quarter valued at approximately $44,000. XTX Topco Ltd acquired a new position in VinFast Auto during the 3rd quarter valued at approximately $48,000. Finally, Tidal Investments LLC increased its position in VinFast Auto by 18.7% in the first quarter. Tidal Investments LLC now owns 153,560 shares of the company’s stock worth $763,000 after buying an additional 24,235 shares during the period.

About VinFast Auto

VinFast Auto Ltd. engages in the design and manufacture of electric vehicles (EV), e-scooters, and e-buses in Vietnam, Canada, and the United States. The company operates through three segments: Automobiles, E-scooter, and Spare Parts & Aftermarket Services. The Automobiles segment offers design, development, manufacturing, and sale of cars and electric buses, and related battery lease and battery charging services for electric cars and buses.