Carvana Co.’s (CVNA) Volatility Reaches 2.27%: Don’t Be Comfortable – Stocks Register
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Carvana Co.’s (CVNA) Volatility Reaches 2.27%: Don’t Be Comfortable

Carvana Co. (NYSE:CVNA) price on Friday, August 06, rose 3.26% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $348.00.

A look at the stock’s price movement, the level at last check in today’s session was $337.00, moving within a range at $328.26 and $337.91. The beta value (5-Year monthly) was 2.39. Turning to its 52-week performance, $344.32 and $158.25 were the 52-week high and 52-week low respectively. Overall, CVNA moved 6.35% over the past month.


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Carvana Co.’s market cap currently stands at around $58.38 billion, with investors looking forward to this quarter’s earnings report slated for Oct 27, 2021 – Nov 01, 2021. Analysts project the company’s earnings per share (EPS) to be -$0.41, which has seen fiscal year 2021 EPS growth forecast to increase to -$1.67 and about -$0.65 for fiscal year 2022. Per the data, EPS growth is expected to be 36.50% for 2021 and 61.10% for the next financial year.

Analysts have a consensus estimate of $2.44 billion for the company’s revenue for the quarter, with a low and high estimate of $2.1 billion and $3.13 billion respectively. The average forecast suggests up to a 117.80% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2021 to grow to $9.92 billion, representing a 77.60% jump on that reported in the last financial year.

Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was 1 upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that CVNA is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.

25 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 9 analyst(s) rate the stock as a Hold, 14 recommend CVNA as a Buy and 1 give it an Overweight rating. Meanwhile, 1 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Overweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.

CVNA’s current price about 5.84% and 13.99% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 71.39, while 7-day volatility ratio is 2.27% and 2.89% in the 30-day chart. Further, Carvana Co. (CVNA) has a beta value of 2.39, and an average true range (ATR) of 9.09. Analysts have given the company’s stock an average 52-week price target of $351.09, forecast between a low of $200.00 and high of $430.00. Looking at the price targets, the low is 42.53% off recent price level in today’s trading while to achieve the yearly target high, it has to move -23.56%. Nonetheless, investors will most likely welcome a -4.89% jump to $365.00 which is the analysts’ median price.

In the market, a comparison of Carvana Co. (CVNA) and its peers suggest the former has performed considerably stronger. Data shows CVNA’s intraday price has changed 3.26% today and 93.54% over the past year. Comparatively, CarMax Inc. (KMX) has moved -0.37% so far today and only 35.51% in the past 12 months. Looking at another peer, we see that KAR Auction Services Inc. (KAR) price has gained 3.03% on the day. However, the stock is 8.89% off its price today a year ago. Moreover, Carvana Co. (CVNA) is also up 3.26% in today’s trading while keeping a an uptrend of 93.54% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are up 0.14% and 0.41% respectively on the day as seen in early trades.

If we refocus on Carvana Co. (NYSE:CVNA), historical trading data shows that trading volumes averaged 0.91 million over the past 10 days and 1.55 million over the past 3 months. The company’s latest data on shares outstanding shows there are 78.10 million shares.

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The 1.10% of Carvana Co.’s shares are in the hands of company insiders. Also important is the data on short interest which shows that short shares stood at 17.28 million on May 27, 2021, giving us a short ratio of 8.77. The data shows that as of May 27, 2021 short interest in Carvana Co. (CVNA) stood at 10.02% of shares outstanding, with shares short falling to 17.99 million registered in Apr 29, 2021. Current price change has pushed the stock 40.69% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the CVNA stock continues to rise going into the next quarter.

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