Movement Alert｜Carvana Co. Intraday Rise 10.35% in Regular Trading, Q3 Revenue Growth and a Higher Price Target Lift Sentiment

Market Focus10-29 21:34

On October 29, Carvana Co. rose 10.35% in Regular Trading, trading at $66.765, with turnover of $117 million.

The move was supported by newly released third-quarter results showing strong double-digit growth in sales, unit volumes and net profit, alongside a higher analyst price target.

For the quarter ended September 30, Carvana Co. reported diluted EPS of $0.39, up from $0.21 a year earlier, while revenue rose to $8.04 billion from $5.65 billion and exceeded the $7.71 billion consensus. Retail vehicle sales increased 39.4% to 217,385 units, and net profit climbed to $483 million from $263 million. Separately, Deutsche Bank raised its price target to $85 from $80 while maintaining a Buy rating. Together, the earnings-driven revenue beat and the event-driven target increase offer a clear explanation for the stock’s sharp rise.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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