CPRT

AI Research

Copart Q2 EPS $0.36 Misses $0.40 Estimate → Revenue -3.6% YoY, Barclays Underweight $32 PT

Copart reported Q2 fiscal 2026 EPS of $0.36, missing the $0.40 consensus estimate, as revenue declined 3.6% year-over-year amid lower salvage vehicle auction volumes and reduced insurance total loss frequency following normalization in auto claim severity. Barclays maintained an Underweight rating with a $32 price target, while the broader consensus holds a Hold rating with an average of $44.40. Risks include further normalization of salvage vehicle supply, competition from IAAI in vehicle remarketing, and insurance industry consolidation reducing auction volume.