Movement Alert｜Carvana Co. Intraday Rise 3.14% in Regular Trading, Q3 revenue growth and a target price increase continued to support shares

Market Focus11-06

On November 6, Carvana Co. rose 3.14% in Regular Trading, trading at $73.485/share, with turnover of $102 million.

The move was tied to continued investor support following the company’s strong third-quarter results and an analyst target price increase to $85 while maintaining a buy rating.

Carvana Co. previously reported third-quarter revenue of $8.04 billion, above the $7.71 billion market expectation and up 42.4% from a year earlier. Retail unit sales rose 39.4% to 217,385 vehicles, while diluted EPS was $0.39, below the $0.44 consensus but above $0.21 a year earlier. Recent market updates indicated that this combination of strong top-line growth and the higher target price continued to underpin the stock’s performance.

(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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