As of March 12, 2024, analysts have varying opinions on Carvana (NYSE: CVNA), ranging from bullish to bearish. Here is a breakdown of the recent analyst ratings:
– Total Ratings: 0 Bullish, 2 Somewhat Bullish, 4 Indifferent, 2 Somewhat Bearish, 0 Bearish.
– Recent Changes in Ratings (Last 30 Days): 1 Indifferent.
– Analysts’ Evaluations of 12-Month Price Targets: Average target of $64.38, high estimate of $90.00, low estimate of $45.00. The current average has increased by 60.39% from the previous average price target of $40.14.
Recent analyst actions include:
– John Colantuoni from Jefferies upgraded the rating to Hold with a price target of $85.00.
– Brad Erickson from RBC Capital upgraded the rating to Sector Perform with a price target of $90.00.
– Adam Jonas from Morgan Stanley downgraded the rating to Underweight with a price target of $45.00.
– Nicholas Jones from JMP Securities upgraded the rating to Market Outperform with a price target of $80.00.
– Seth Basham from Wedbush upgraded the rating to Neutral with price targets ranging from $50.00 to $60.00.
Overall, Carvana currently has a consensus rating of Hold based on 2 buy ratings, 11 hold ratings, and 2 sell ratings, with an average price target of $60.91.
Carvana Co. (CVNA) Stock Price Plummets 8.43% Amidst Market Turbulence
Carvana Co. (CVNA) had a tumultuous day on March 12, 2024, with the stock experiencing significant price movements. According to data from CNN Money, CVNA was trading near the top of its 52-week range and above its 200-day simple moving average, indicating positive price momentum leading up to the trading day.
However, things took a turn for the worse as CVNA shares dropped $7.19, or 8.43%, since the market last closed. The stock closed at $78.10, marking a significant decrease from the previous trading session. Investors may have been concerned about the sudden drop in price, leading to a sell-off of CVNA shares.
Despite the decline, there was some positive news for CVNA investors as the stock rose $2.17 in pre-market trading. This increase could indicate that investors are optimistic about the stock’s future performance and may be looking to buy shares at a discounted price.
Carvana Co. (CVNA) Financial Results and Stock Performance Analysis – March 12, 2024
On March 12, 2024, Carvana Co. (CVNA) experienced a mixed day in terms of stock performance, reflecting the company’s recent financial results. According to data from CNN Money, CVNA reported total revenue of $10.77 billion over the past year, with a significant decrease of 20.82% compared to the previous year. In the fourth quarter alone, total revenue stood at $2.42 billion, showing a 12.59% decrease from the previous quarter.
Despite the decline in revenue, CVNA managed to increase its net income by 128.36% from the previous year, reaching $450 million in the past year. However, in the fourth quarter, the company reported a net loss of $114 million, marking a decrease of 114.58% from the previous quarter.
Earnings per share (EPS) for CVNA also showed a mixed performance. The company reported an EPS of $0.75 over the past year, reflecting a 104.75% increase from the previous year. In the fourth quarter, however, EPS dropped to -$1.00, remaining unchanged from the previous quarter.
The fluctuating financial results of CVNA seem to have had an impact on its stock performance on March 12, 2024. Investors may have reacted to the mixed results, leading to fluctuations in the stock price throughout the trading day.
