So, here's what happened with Copart, Inc. (CPRT) on Thursday: the stock took a notable dip after the company released its second-quarter earnings, and the numbers tell you exactly why. It was one of those classic "miss on both lines" situations that tends to make investors a bit nervous.

The company reported quarterly earnings of 36 cents per share. That missed the consensus estimate of 40 cents per share, according to market data. On the revenue side, things weren't much better. Quarterly sales came in at $1.12 billion, which was below the Street's expectation of $1.14 billion. To add a bit of historical context, that revenue figure is also down from the $1.16 billion the company reported in the same quarter last year.

Unsurprisingly, the market reacted. Copart shares, which were down a modest 0.26% during the regular trading session, fell sharply by 11.16% in after-hours trading. The stock was last trading at $33.45. The company has scheduled a conference call for Thursday evening to discuss the results in more detail.

Now, where do the experts stand on all this? The average analyst rating for Copart stock is a Buy, with an average price target sitting at $36.27. But as is often the case, the devil is in the details—and the details show a pretty wide range of opinions. Recent analyst moves include JPMorgan maintaining a Neutral rating but lowering its price target to $45. Barclays has an Underweight rating and raised its target to $33. Meanwhile, Baird maintains an Outperform rating but lowered its target to $52.

So, while the average suggests optimism, the individual moves and targets paint a picture of a company that analysts are watching closely, with expectations that seem to be adjusting in real-time after this earnings report.