Carvana Stock Is Rallying Thursday: What's Driving The Action?
Portfolio Pulse from Adam Eckert
Carvana Co (NYSE:CVNA) shares surged after reporting strong Q3 results, with revenue and EPS surpassing expectations. The company saw a 32% increase in revenue and a 34% rise in vehicle sales year-over-year. Carvana expects continued growth in Q4 and raised its full-year adjusted EBITDA guidance. Analyst Colin Sebastian raised the price target to $240.
October 31, 2024 | 1:41 pm
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Carvana's Q3 results exceeded expectations with a 32% revenue increase and EPS of 64 cents, significantly above estimates. The company anticipates further growth in Q4 and raised its full-year EBITDA guidance. Analyst Colin Sebastian increased the price target to $240.
Carvana's strong Q3 performance, with revenue and EPS surpassing estimates, indicates robust business momentum. The company's positive outlook for Q4 and increased EBITDA guidance suggest continued growth. The analyst's raised price target reflects confidence in Carvana's future performance, likely driving the stock price higher in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100