Ferrari (RACE) closed the latest trading day at $420.38, indicating a -0.49% change from the previous session's end. The stock trailed the S&P 500, which registered a daily loss of 0.29%. Meanwhile, the Dow experienced a drop of 0.35%, and the technology-dominated Nasdaq saw a decrease of 0.3%.

The luxury sports car maker's shares have seen an increase of 10.46% over the last month, surpassing the Auto-Tires-Trucks sector's gain of 0.09% and the S&P 500's gain of 4.42%.

The upcoming earnings release of Ferrari will be of great interest to investors. In that report, analysts expect Ferrari to post earnings of $2 per share. This would mark year-over-year growth of 14.94%. Meanwhile, our latest consensus estimate is calling for revenue of $1.73 billion, up 13.08% from the prior-year quarter.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $8.31 per share and revenue of $7.01 billion. These totals would mark changes of +11.24% and +8.59%, respectively, from last year.

Investors should also pay attention to any latest changes in analyst estimates for Ferrari. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Ferrari is holding a Zacks Rank of #3 (Hold) right now.

From a valuation perspective, Ferrari is currently exchanging hands at a Forward P/E ratio of 50.84. This signifies a premium in comparison to the average Forward P/E of 12.7 for its industry.

Investors should also note that RACE has a PEG ratio of 5.05 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the Automotive - Original Equipment industry held an average PEG ratio of 0.86.

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 150, placing it within the bottom 41% of over 250 industries.