canoo is a company that makes electric vehicles. some people who work for companies that help others invest money in stocks talk about canoo. they say if people buy or sell canoo's stock, it could go up or down in price. but they sometimes say things that might not be true, because the company that pays them also sells services to help people invest in stocks.

so when these people talk about canoo, it can be helpful to check what other things are being said about it. a tool called zacks rank looks at how much money the company is making and predicts how much it could make in the future. if zacks rank says a company is doing well, it could mean that people should buy its stock, because it could go up in price. if it says a company isn't doing well, it could mean people should sell it or not buy it, because it could go down in price.

for canoo, some people think it's a good stock to buy, because it could make a lot of money in the future selling electric vehicles. but it's also important to remember that these people could be wrong, because they might say things that aren't true to help the company that pays them sell more services. so it's always good to check what other things people are saying about canoo and look at other tools, like zacks rank, to help make a good decision about whether to buy or sell its stock. Read from source...

1. Wall Street's bullish views may not necessarily mean Canoo is worth investing in, as brokerage firm recommendations have been shown to have little or no success in guiding investors to stocks with the most potential for price appreciation.

2. Analysts employed by brokerage firms may be overly optimistic with their recommendations due to their employers' vested interests, misguiding investors more often than helping them.

3. The ABR (average brokerage recommendation) may not be up-to-date and should be used to validate your own analysis or a tool that has proven to be highly effective at predicting stock price movements.

4. The Zacks Rank should not be confused with the ABR as it is a quantitative model allowing investors to harness the power of earnings estimate revisions, which is strongly correlated with near-term stock price movements according to empirical research.

5. The different Zacks Rank grades are applied proportionately to all stocks for which brokerage analysts provide current-year earnings estimates, maintaining a balance among its five ranks.

6. While the ABR suggests buying Canoo, investors should be cautious and consider the Zacks Rank, which may indicate a Hold rating, along with other factors related to earnings estimates.

7. The Zacks Consensus Estimate for Canoo's current-year earnings has remained unchanged over the past month, indicating analysts' steady views regarding the company's earnings prospects, which could be a legitimate reason for the stock to perform in line with the broader market in the near term.

Wall Street's bullish views on electric vehicle maker Canoo Inc (GOEV) make it an attractive stock to consider, according to Benzinga. Analysts are encouraged by the company's projected revenue growth, expansion into new markets and its position in the fast-growing electric vehicle sector. The stock is rated a buy by five out of seven brokerage firms. Canoo's average brokerage recommendation is 1.57, equivalent to a strong buy rating.