These Analysts Boost Their Forecasts On Carvana After Strong Q3 Results
Portfolio Pulse from Avi Kapoor
Carvana Co. (NYSE:CVNA) reported strong Q3 results, surpassing revenue and earnings expectations. The company anticipates further growth in Q4 and raised its full-year adjusted EBITDA guidance. Analysts have increased their price targets for Carvana, reflecting optimism about its future performance.
October 31, 2024 | 5:20 pm
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Carvana reported better-than-expected Q3 results, with revenue of $3.66 billion and earnings of 64 cents per share. The company anticipates further growth in Q4 and raised its full-year adjusted EBITDA guidance. Analysts have increased their price targets, indicating positive sentiment.
Carvana's strong Q3 performance, surpassing both revenue and earnings expectations, has led to a significant increase in its stock price. The company's positive outlook for Q4 and raised EBITDA guidance further enhance investor confidence. Analysts' increased price targets reflect this optimism, suggesting a likely positive impact on the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100