Carvana Co. (NYSE:CVNA) shares, rose in value on Thursday, 08/04/22, with the stock price down by -3.90% to the previous day’s close as strong demand from buyers drove the stock to $33.54.
Actively observing the price movement in the last trading, the stock closed the session at $34.90, falling within a range of $32.09 and $37.97. The value of beta (5-year monthly) was 2.64. Referring to stock’s 52-week performance, its high was $376.83, and the low was $19.45. On the whole, CVNA has fluctuated by 27.53% over the past month.
With the market capitalization of Carvana Co. currently standing at about $5.72 billion, investors are eagerly awaiting this quarter’s results, scheduled for Feb 23, 2022 – Feb 28, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$1.8, which is expected to increase to -$0.34 for fiscal year -$7.48 and then to about -$3.57 by fiscal year 2023. Data indicates that the EPS growth is expected to be -358.90% in 2023, while the next year’s EPS growth is forecast to be 52.30%.
Analysts have estimated the company’s revenue for the quarter at $3.98 billion, with a low estimate of $3.57 billion and a high estimate of $4.25 billion. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $16.06 billion, representing an increase of 25.30% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that CVNA’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CVNA currently trading nearly 30.07% and 28.95% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 62.09, while the 7-day volatility ratio is showing 14.77% which for the 30-day chart, stands at 11.63%. Furthermore, Carvana Co. (CVNA)’s beta value is 2.65, and its average true range (ATR) is 3.39. The company’s stock has been forecasted to trade at an average price of $53.79 over the course of the next 52 weeks, with a low of $15.00 and a high of $142.00. Based on these price targets, the low is 55.28% off current price, whereas the price has to move -323.38% to reach the yearly target high. Additionally, analysts’ median price of $49.00 is likely to be welcomed by investors because it represents a decrease of -46.09% from the current levels.
A comparison of Carvana Co. (CVNA) with its peers suggests the former has fared considerably weaker in the market. CVNA showed an intraday change of -3.90% in last session, and over the past year, it shrunk by -89.86%%. In comparison, CarMax Inc. (KMX) has moved lower at -0.33% on the day and was down -27.19% over the past 12 months. On the other hand, the price of KAR Auction Services Inc. (KAR) has risen 1.44% on the day. The stock, however, is off -10.68% from where it was a year ago. Additionally, there is a loss of -3.90% for Carvana Co. (CVNA) in last trading while the stock has seen an overall depriciation of -89.86%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.08%. Meanwhile, the Dow Jones Industrial Slipped by -0.26%.
Data on historical trading for Carvana Co. (NYSE:CVNA) indicates that the trading volumes over the past 10 days have averaged 9.26 million and over the past 3 months, they’ve averaged 12.61 million. According to company’s latest data on outstanding shares, there are 90.09 million shares outstanding.
The data on short interest also indicates that stock shorts accounted for 29.03 million shares as on Jul 14, 2022, resulting in a short ratio of 2.36. According to the data, the short interest in Carvana Co. (CVNA) stood at 27.46% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 29.99 million. The stock has fallen by -85.53% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CVNA stock heading into the next quarter.