Carvana (CVNA)

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Carvana's Debt Problems Haven't Gone Away. Investors Should Keep a Close Eye On These 3 Things
The Motley Fool· 2024-05-05 19:34
Impressively, Carvana turned a profit in 2023 and in 1Q 2024. But there's more to the story here.On the surface, Carvana (CVNA 4.44%) looks like it had a spectacular turnaround year in 2023. Earnings rocketed from a $15.74 per share loss in 2022 to a profit of $4.12 per share. And it also seems like it got off to a big start in 2024, with a first-quarter profit of $0.24 per share. These are impressive results, but there's more to the story here than there appears to be.Here are three things you need to keep ...
Fallen Pandemic Star Carvana Roars Back into Gains With Bullish Outlook, Q1 Beat
Investopedia· 2024-05-02 15:55
Key TakeawaysCarvana set profit and sales records in the first quarter and projected second-quarter retail unit growth and shares skyrocketed.The online used car retailer also posted an all-time high in gross profit per unit sold, and slashed expenses.Wedbush raised its price target on the stock to $120 from $80 each, pointing to the first quarter results and guidance. Shares of Carvana (CVNA) skyrocketed after the online used car retailer issued an upbeat outlook for the current quarter and had its best fi ...
Why Carvana Stock Just Jumped 34%
The Motley Fool· 2024-05-02 15:52
Don't make the mistake of thinking Carvana is profitable now. It isn't.Carvana (CVNA 34.90%) reported its earnings results for the first quarter of 2024 last night, and the crowd went wild.Shares of the used car "vending machine" company soared 34% through 10:20 a.m. ET on results that easily beat expectations. Instead of the $2.7 billion in sales that Carvana was expected to report, the company did $3.1 billion. And instead of losing money as Wall Street expected, Carvana earned a surprise $49 million prof ...
JPMorgan Just Raised Its Price Target on Carvana (CVNA) Stock
InvestorPlace· 2024-05-02 15:27
Carvana (NYSE:CVNA) stock is on the move Thursday after the used car retailer’s share got a new price target from JPMorgan analyst Rajat Gupta.This has the JPMorgan analyst increasing his price target for CVNA stock from $70 per share to $130 per share. That represents a potential upside of 49.2% over its closing price yesterday. It’s also bullish next to the analysts’ consensus price prediction of $70 per share.To go along with that, Gupta upgraded the firm’s rating for CVNA from “neutral” to “overweight” ...
Is Carvana (CVNA) Stock Outpacing Its Retail-Wholesale Peers This Year?
Zacks Investment Research· 2024-05-02 14:46
The Retail-Wholesale group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Carvana (CVNA) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Retail-Wholesale peers, we might be able to answer that question.Carvana is one of 213 companies in the Retail-Wholesale group. The Retai ...
Unpacking Carvana's Blockbuster Earnings Report
Schaeffers Research· 2024-05-02 14:26
Carvana stock is trading at its highest level in nearly two years after earningsCarvana Co (NYSE:CVNA) stock is surging today, up 35% to trade at $117.69, after the online used-car retailer reported first-quarter earnings of 23 cents per share -- much higher than the expected loss of 64 cents -- on revenue of $3.1 billion. Better yet, the firm also issued a better-than-expected guidance for the current quarter.Morgan Stanley and J.P. Morgan Securities both upgraded CVNA to "overweight," and no less than eig ...
Why Is Carvana (CVNA) Stock Up 36% Today?
InvestorPlace· 2024-05-02 12:14
Carvana (NYSE:CVNA) stock is rocketing higher on Thursday after the used-car retailer posted its earnings report for the first quarter of 2024.Carvana starts its report strong with adjusted earnings per share of 23 cents. That’s a surprise profit compared to Wall Street’s estimate of -74 cents per share. It’s also a major improvement over its Q1 2023 EPS of -74 cents.Revenue coming in at $3.06 billion is another win for CVNA stock. That has it surpassing analysts’ estimate of $2.69 billion for the quarter. ...
Covid darling Carvana hits two-year high after surprisingly strong first quarter
Proactive Investors· 2024-05-02 11:15
About this content About William Farrington William kickstarted his career as a researcher and reporter for a global legal publication, covering everything from public law to M&A. Before moving to Proactive Investors, he worked as a reporter for a major fintech company with a focus on cryptocurrency and blockchain technology. Harking from Queensland, Australia, William obtained first-class honours in journalism and media from Birkbeck University before going on to complete an MA in creative and critical ...
Carvana (CVNA) stock forecast: the train left the station long ago
Invezz· 2024-05-02 10:06
Carvana (NYSE: CVNA) stock price has risen from the ashes, becoming one of the best performing companies in Wall Street. It jumped by more than 30% in the pre-market session, reaching a high of $121.7, its highest level since April 2022. It has soared by over 3,600% from its lowest point in 2022.Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.Spectacular comeback continuesCopy link to sectionCarvana has had a spectacular comeback in the past 14 months ...
Carvana (CVNA) stock surged 30% in the after-market; Here's why
Finbold· 2024-05-02 08:32
Carvana (NYSE: CVNA) turned the tide on its recent challenges. Previously, it grappled with declining sold vehicles and a surplus of used cars, raising concerns about potential bankruptcy in 2022.However, restructuring and strategic adjustments have paid off. In Q1, Carvana avoided losses and turned a profit, surprising investors. This success was reflected in a remarkable 32.54% surge in CVNA stock during the premarket, propelling Carvana shares from $87.09 to $116.15 valuation following the release of its ...