Carvana Stock Is Surging Thursday: What's Driving The Action?
Portfolio Pulse from Adam Eckert
Carvana Co (NYSE:CVNA) shares surged after reporting better-than-expected Q2 financial results, including higher revenue and a positive EPS. The company also provided strong guidance for Q3 and full-year 2024. Needham analyst Chris Pierce raised the price target for Carvana from $160 to $200.
August 01, 2024 | 2:38 pm
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Carvana reported better-than-expected Q2 results with revenue of $3.41 billion and EPS of 14 cents, beating estimates. The company also provided strong guidance for Q3 and full-year 2024, leading to a 13.5% surge in share price. Needham raised the price target from $160 to $200.
Carvana's better-than-expected Q2 financial results, including higher revenue and a positive EPS, along with strong guidance for Q3 and full-year 2024, have positively impacted investor sentiment. The Needham analyst's increased price target further supports the bullish outlook.
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