Ferrari completes €250 million buyback, announces second tranche

MARANELLO, Italy - Ferrari N.V. (NYSE/EXM:RACE) completed its first €250 million share buyback tranche and will launch a second tranche of up to €250 million starting April 13, 2026, according to a press release statement. The luxury automaker, with a market capitalization of $62.3 billion, maintains exceptional financial health with a perfect Piotroski Score of 9, according to InvestingPro data.

The company purchased 680,168 common shares on Euronext Milan for €199,999,486.77 and 169,886 shares on the New York Stock Exchange for $57,884,510.41 (€49,999,734.27). The final purchases under the first tranche occurred Monday and Tuesday, with shares bought at an average price of €289.14 on EXM and $353.18 on NYSE.

As of Wednesday, Ferrari held 17,494,660 common shares in treasury, representing 9.02% of total issued common shares. Including special voting shares, the company held 9.40% of total issued share capital.

The first tranche is part of a multi-year share buyback program of approximately €3.5 billion expected to be executed by 2030, announced during the 2025 Capital Markets Day on December 16, 2025. Since the program began on January 5, 2026, Ferrari has purchased 850,054 common shares for €249,999,221.05.

The second tranche, expected to end no later than August 28, 2026, will be funded through available cash. Ferrari entered into a non-discretionary buyback agreement for up to €200 million on EXM through a financial institution and an additional mandate for up to €50 million on NYSE. InvestingPro analysis indicates Ferrari’s liquid assets exceed short-term obligations, with a current ratio of 2.3, supporting the company’s ability to fund the buyback program. For deeper insights, Ferrari is among the 1,400+ US equities covered by comprehensive Pro Research Reports, which transform complex financial data into clear, actionable intelligence.

The buyback implements a resolution from the April 16, 2025 shareholders meeting, which authorized purchases of up to 10% of common shares during an eighteen-month period. The repurchase authority expires October 15, 2026.

Shares repurchased may be used to meet obligations from the company’s equity incentive plan.

In other recent news, Ferrari has been the subject of several analyst reports highlighting different aspects of the company’s performance and outlook. UBS has lowered its price target for Ferrari shares to $483, maintaining a Buy rating, despite expectations of a weak first quarter in 2026. Jefferies upgraded Ferrari from Hold to Buy, raising its price target to $400, citing expectations for high single-digit growth and gradual margin expansion. Bernstein has reiterated an Outperform rating with a $410 price target, noting Ferrari’s strategic move to advance vehicle deliveries to the U.S. to offset shipment halts to the Gulf region.

JPMorgan expressed optimism about Ferrari’s first-quarter results, predicting that the figures will support the company’s full-year guidance. Evercore ISI maintained an Outperform rating and a $475 price target, while noting potential impacts from Middle East conflicts on Ferrari’s 2026 results. These developments reflect a mixed but generally positive outlook from analysts, with several firms adjusting their price targets and ratings based on various growth and geopolitical factors.

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