Carvana Co. (NYSE:CVNA) concluded the trading at $52.20 on Friday, September 15 with a fall of -6.55% from its closing price on previous day.
Taking a look at stock we notice that its last check on previous day was $55.86 and 5Y monthly beta was reading 3.09 with its price kept floating in the range of $51.12 and $56.40 on the day. Considering stock’s 52-week price range provides that CVNA hit a high price of $57.19 and saw its price falling to a low level of $3.55 during that period. Over a period of past 1-month, stock came adding 37.15% in its value.
With its current market valuation of $10.03 billion, Carvana Co. is set to declare its quarterly results on Nov 01, 2023 – Nov 06, 2023. Analysts are in estimates of -$0.83 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving up to -$3.73 for 2023 with estimates of that growing to -$2.52 in next year. These estimates are suggesting current year growth of 49.20% for EPS and 32.40% growth next year.
Analysts watching the company’s growth closely have provided estimates for its revenue growth with an average revenue estimate of $2.76 billion. They suggested that in the process company could generate revenue of as low as $2.56 billion which could climb up to $3.07 billion to hit a high. The average estimate is representing a decrease of -25.50% in sales growth from that of posted by the company in the same quarter of last year. In keeping analyst consensus estimate with, company is forecasted to be making an annual revenue of $11.02 billion in 2023, which will be -19.00% less from revenue generated by the company last year.
In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review CVNA stock’s current outlook then short term indicators are assigning it an average of 100% Buy, while medium term indicators are categorizing the stock at an average of 100% Buy. Long term indicators are suggesting an average of 100% Buy for it.
Digging deeper we become aware of the PEG ratio of the CVNA stock which is currently positioned at 0. It further provides that stock’s current price level is 13.51% away from its 20-day simple moving average and is 20.05% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 59.44 while volatility remained at 10.02% over the past week which changes to 8.47% when measuring it over the past month. Beta is valued at 3.08, while measure of average true range or ATR is currently at 4.13. In predicting price targets of as low as $15.00 and as high as $63.00, analysts are in agreement on assigning the stock over the next 12 months average price target of $43.06. Stock’s current price level is 71.26% above from estimated low price target while it is -20.69% below the estimated high; and even if the CVNA’s share succeeded to reach the median price of $44.00, then the outlook of 15.71% could come to the excitement of the investors.
In comparing Carvana Co. (CVNA)’s stock with other industry players reveals that stock’s current price change of -6.55% and that of 44.72% over the past 12 months is in competing position with that of CarMax Inc. (KMX) which saw its stock price fall by -0.73% in the last trading and went through a decrease of -2.53% in past 12-month trading. Industry’s another major player OPENLANE Inc. (KAR) has fall -1.64% down in previous session, but over the past year has faced a rise of 22.23%, while Carvana Co. (CVNA) was also down -6.55% however its price remained floating in the green at 44.72% over the same period. Carvana Co. has a P/E ratio of 0 against that of CarMax Inc.’s 28.72. On the other hand, the S&P 500 Index was down -1.22% in the last trading session while the Dow Jones Industrial closed the session lower at -0.83%.
Having a second look at Carvana Co. (NYSE:CVNA) provides that stock’s average daily trading volume for 3 months was 20.98 million, while it jumped to 11.07 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 106.22 million.
The percentage of outstanding shares held by the insiders is 1.50% while it is 94.96% for the institutional holders. The figures also indicate that as of Aug 30, 2023, number of stock’s short shares was 33.99 million which implies a short ratio of 2.87. This shows down a 30.50% of Short Interest in company’s outstanding shares on the day. In August the standing of shares short improved as it was 35.68 million in the previous month. Addition of 1001.27% by stock’s current price to its year-to-date value in last trading session is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.