On August 3, Carvana Co. rose 3.03% in regular trading, trading at approximately $64.36 per share, with turnover of $47.18 million. The stock is rebounding after an initial post-earnings selloff, as investors reassess the company's strong Q2 results.
Carvana reported Q2 revenue of $7.376 billion, up 52% year-over-year and well above the consensus estimate of $6.909 billion. EPS came in at $0.42, beating the $0.36 estimate by 16.67% and representing a 61.54% increase from the prior-year period. Retail vehicle sales reached a record 197,000 units, up 38% YoY. Net income rose to $310 million, marking multiple consecutive profitable quarters. However, the stock had initially dropped approximately 8% following the earnings release as full-year adjusted EBITDA guidance of $2.7-3.0 billion came in below some Wall Street expectations. Several analysts subsequently trimmed price targets, with BNP Paribas cutting to $69 from $86 and Evercore ISI adjusting to $75 from $86, though average consensus targets remain above current levels at approximately $85.93.
(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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