Ferrari NV (RACE)

Ferrari's stock price has experienced fluctuations, including a decline over the past 52 weeks and underperforming the S&P 500. A Capital Markets Day and CEO remarks contributed to negative sentiment. Deliveries in the Middle East were suspended due to conflict. However, the stock was up in February 2026, and revenue and earnings are expected to rise in 2026. Jefferies upgraded Ferrari to a "Buy," and the company has an ongoing share buyback program.

Ferrari maintains supply below demand to preserve exclusivity, mitigating traditional demand seasonality. The order book often extends into the future, with new model introductions generating demand spikes. Some market observations suggest a historically long bias for the stock in March, culminating around April 22, which might reflect investor sentiment patterns.

Ferrari N.V. is a luxury performance sports car manufacturer based in Maranello, Italy, operating in the Consumer Discretionary sector. The company designs, engineers, produces, and sells high-end luxury sports cars, generating revenue from vehicle sales, engines and spare parts, after-sales services, and brand licensing activities, including theme parks and luxury goods. Ferrari also manages racetracks and owns two museums in Italy.

Ferrari has a strong global commercial presence with its primary base in Maranello, Italy. Sales are diversified across Europe, North America, Asia-Pacific, and the Middle East. Key markets include EMEA (49% of revenue in 2025), the Americas (32% of revenue in 2025), and the Asia-Pacific region (19% of revenue in 2025). Ferrari operates through a network of authorized dealers, owned and franchised stores, and an online presence.

Ferrari's brand reputation is exceptionally strong, synonymous with luxury, exclusivity, high performance, and iconic Italian design. Limited production maintains product scarcity and desirability. Success in motor racing, particularly with the Scuderia Ferrari Formula 1 team, bolsters its brand image. Winning the 2025 FIA World Endurance Championship further reinforced the brand's performance. Potential concerns include the risk of diluting exclusivity through range extension.

Ferrari NV's ownership includes institutional, retail, and individual investors. Major institutional owners include Vanguard Group Inc, Baillie Gifford & Co, Bank Of America Corp /de/, Amundi, Bank of New York Mellon Corp, Morgan Stanley, Bank of Italy, Alliancebernstein L.p., Norges Bank, UBS Group AG, BlackRock, Inc., and T. Rowe Price Group, Inc.. Exor N.V. holds 19.48% of common shares and 32.32% of voting rights, and Piero Ferrari holds 9.743% of common shares and 16.17% of voting rights through Trust Piero Ferrari.