US Stock Market Move | Ferrari NV (RACE.US) fell more than 12%, 2030 performance guidance fell short of expectations.

On Thursday, Ferrari NV (RACE.US) plummeted more than 12%, closing at $419.16. On the news front, Ferrari NV's 2030 performance guidance fell short of Wall Street expectations, and the company also lowered its electrification transformation goals. Ferrari NV raised its 2025 net revenue expectations from "over 7 billion euros" to "at least 7.1 billion euros", and set a 2030 net revenue target of around 9 billion euros. However, analysts generally believe that this long-term guidance is too conservative. Analyst Michael Dean said that Ferrari NV expects an EBITDA profit margin of over 40% in 2030, while analysts' average expectation is 42%. Citi analysts said in a research report that Ferrari NV's guidance is "lower than the 'low growth scenario' estimated in our capital market day preview, reflecting a conservative attitude from management." They added that considering the guidance, although conservative, implies limited operating leverage in future cycles, "we believe there are certain risks to recent consensus earnings per share and valuation multiples." Furthermore, Ferrari NV also announced adjustments to its electrification strategy, lowering its target for electric car sales to 20% in 2030 from the previous goal of 40%.