Streetbeat News

CVNA

Carvana Co.

https://www.carvana.com

Industry

Specialty Retail

Carvana Co., together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. The company's platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices. Carvana Co. was founded in 2012 and is headquartered in Tempe, Arizona.

Open

239.23

Mkt cap

50B

Volume

1.9M

High

244.84

P/E Ratio

96.96

52-wk high

259.39

Low

238.46

Div yield

N/A

52-wk low

27.75

The article lists the stocks that gained and lost in Thursday's mid-day session. Some of the gainers include PainReform Ltd., T2 Biosystems, Inc., SigmaTron International, Inc., and Pasithea Therapeutics Corp. Some of the losers include Vir Biotechnology, Inc., Netcapital Inc., Aspira Women's Health Inc., and DURECT Corporation. Infosys Limited shares declined by 9.4% due to worse-than-expected quarterly earnings results.

Portfolio Pulse from Lisa Levin

July 20, 2023 | 5:26 pm

Evercore ISI Group analyst Michael Montani maintains an In-Line rating on Carvana (NYSE:CVNA) and raises the price target from $24 to $40.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 4:55 pm

Analysts from RBC Capital, Raymond James, and Wedbush have raised concerns over Carvana Co's (NYSE:CVNA) margins and unit economics despite its better Q2 results and debt restructuring. While the analysts acknowledged the company's improved near-term performance and reduced liquidity risks, they expressed concerns over potential margin-stalling growth, significant dilution, expanding debt load, and industry-wide challenges. CVNA shares are trading lower by 16.10% at $46.84.

Portfolio Pulse from Anusuya Lahiri

July 20, 2023 | 4:38 pm

Carvana Co (NYSE:CVNA) shares rose nearly 50% this week after the company issued its Q2 earnings report, despite a decline in sales. The company reported a loss of 55 cents per share, better than the anticipated $1.15 loss, on revenues of $2.97 billion, beating the $2.59-billion Street estimate. Adjusted gross profit for the quarter rose 24.2% to $538 million, with adjusted EBITDA for the quarter being $155 million compared to a loss of $216 million last year. Analysts from Wedbush, Oppenheimer, and RBC have mixed views on the company's debt restructuring and future prospects.

Portfolio Pulse from AJ Fabino

July 20, 2023 | 3:50 pm

RBC Capital has downgraded Carvana's stock from Sector Perform to Underperform, but increased its price target from $9 to $30. This has resulted in Carvana shares trading lower.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 3:04 pm

Wedbush analyst Seth Basham maintains an 'Underperform' rating on Carvana (NYSE:CVNA) and raises the price target from $1 to $40.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 2:28 pm

JP Morgan analyst Rajat Gupta maintains an Underweight rating on Carvana (NYSE:CVNA) and raises the price target from $10 to $15.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 2:16 pm

Carvana Co. (NYSE:CVNA) shares surged 40% after reporting better-than-expected Q2 sales and positive adjusted EBITDA guidance for Q3. The company also agreed with noteholders to reduce total debt, extend maturities, and lower near-term cash interest expense. Traders expect Carvana's shares to continue to rally.

Portfolio Pulse from Lisa Levin

July 20, 2023 | 12:23 pm

Wells Fargo analyst Zachary Fadem has maintained an Equal-Weight rating on Carvana (NYSE:CVNA) and raised the price target from $15 to $50.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 11:57 am

Portfolio Pulse from Lisa Levin

July 20, 2023 | 11:48 am

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