Movement Alert｜Carvana Co. Intraday Rise 3.18% in Regular Trading, strong third-quarter revenue growth and a higher analyst price target support shares

Market Focus11-04

On November 4, Carvana Co. rose 3.18% in Regular Trading, trading at $74.8 per share, with turnover of $91.5708 million.

The move was supported by continued market digestion of the company’s latest third-quarter results and a recent analyst target-price increase. Carvana Co. reported third-quarter revenue of $8.04 billion, above the $7.71 billion expected by analysts and up 42.4% from a year earlier, while retail unit sales rose 39.4% to 217,385 vehicles. Diluted EPS was $0.39, below the $0.44 consensus but above $0.21 a year earlier.

In addition, an investment bank raised its price target on Carvana Co. to $85 from $80 while maintaining a buy rating, reinforcing the constructive tone around the stock following earnings.

(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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