What's Going On With Carvana Stock Today?
Portfolio Pulse from Adam Eckert
Carvana Co (NYSE:CVNA) shares trended down nearly 9% on Friday after a downgrade from Raymond James but are up 58% over the last three months. Wedbush analyst Seth Basham maintained a Neutral rating but raised the price target from $40 to $50. Carvana is expected to report a Q4 loss of 87 cents per share with revenue of $2.529 billion. Additionally, Carvana expanded same-day vehicle delivery to Sacramento, California. The average one-year price target for CVNA shares is $42.80, indicating a potential downside of 16.24%. Shares were down 5.87% at $49.39 at the time of publication.
February 20, 2024 | 3:24 pm
News sentiment analysis
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NEUTRAL IMPACT
Carvana Co shares experienced a recent downgrade and a price target increase, with an upcoming Q4 earnings report. The company expanded same-day delivery to Sacramento, impacting investor sentiment.
The mixed analyst ratings and the upcoming earnings report create uncertainty, potentially leading to short-term volatility. The expansion of same-day delivery to Sacramento could be seen positively, but the overall impact is neutral given the recent downgrade and the expected Q4 loss.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100