Carvana's Q4 Earnings Impress Analysts, Shares Surge On Strong Profit Outlook
Portfolio Pulse from Priya Nigam
Carvana Co (NYSE:CVNA) shares surged following its Q4 earnings report, with analysts from RBC Capital Markets, Wedbush, JMP Securities, Needham, and William Blair providing positive outlooks despite mixed results. The company's strong EBITDA guidance and record retail non-GAAP gross profit per unit were highlights, leading to increased price targets and reaffirmed ratings.
February 23, 2024 | 6:23 pm
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POSITIVE IMPACT
Carvana's Q4 earnings report showed mixed results but a strong EBITDA outlook and record GPU, leading to a surge in its stock price and positive analyst ratings.
Despite mixed Q4 results, Carvana's strong EBITDA guidance and record GPU have positively impacted investor sentiment, leading to a significant stock price increase. Analysts' positive outlooks and increased price targets further support the potential for short-term growth.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100