Carvana Co. (NYSE:CVNA) price is hovering lower on Tuesday, September 19, dropping -5.39% below its previous close.
A look at today’s price movement shows that the recent level at last check reads $51.95, with intraday deals fluctuating between $50.70 and $55.14. Taking into account the 52-week price action we note that the stock hit a 52-week high of $57.19 and 52-week low of $3.55. The stock added 25.35% on its value in the past month.
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Carvana Co., which has a market valuation of $9.96 billion. Analysts tracking CVNA have forecast the quarterly EPS to shrink by -0.82 per share this quarter, while the same analysts predict the annual EPS to hit -$3.69 for the year 2023 and up to -$2.48 for 2024. In this case, analysts estimate an annual EPS growth of 49.70% for the year and 32.80% for the next year.
On average, analysts have forecast the company’s revenue for the quarter will hit $2.77 billion, with the likely lows of $2.56 billion and highs of $3.07 billion. The average estimate suggests sales growth for the quarter will likely fall by -25.30% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $11.03 billion for the company’s annual revenue in 2023. Per this projection, the revenue is forecast to grow -18.90% below that which the company brought in 2023.
Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with 1 upward and no downward reviews. On the technical perspective front, indicators give CVNA a short term outlook of 100% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Buy, while an average of long term indicators are currently assigning the stock as 100% Buy.
Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 23 analysts have assigned CVNA a recommendation rating as follows: 16 rate it as a Hold; 2 advise Buy while 0 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the Carvana Co. (CVNA) stock as Underweight, with 5 recommending Sell. In general, analysts have rated the stock Hold, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.
The overview shows that CVNA’s price is at present 3.76% off the SMA20 and 10.48% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 53.55, with weekly volatility standing at 9.72%. The indicator jumps to 8.63% when calculated based on the past 30 days. Carvana Co. (NYSE:CVNA)’s beta value is holding at 3.08, while the average true range (ATR) indicator is currently reading 4.20. Considering analysts have assigned the stock a price target range of $15.00-$63.00 as the low and high respectively, we find the trailing 12-month average consensus price target to be $43.65. Based on this estimate, we see that today’s price at last check is roughly 69.48% off the estimated low and -28.18% off the forecast high. Investors will no doubt be excited to see the share price rise to $45.00, which is the median consensus price, and at that level CVNA would be 8.44% from recent price.
Turning out attention to how the Carvana Co. stock has performed in comparison to its peers in the industry, here’s what we find: CVNA’s stock is -5.39% on the day and 49.30% in the past 12 months, while CarMax Inc. (KMX) traded -2.60% in the latest session and is positioned -5.26% down on its price 12 months ago. Another comparison is with OPENLANE Inc. (KAR) whose stock price is down -0.39% in the current trading session, and has flourished 19.71% over the past year. Also, Carvana Co. (CVNA) is currently showing down trend of -6.12% while its price kept floating at 48.15% over the past year. Elsewhere in the market, the S&P 500 Index has stumbled -0.64% in today’s early trading, with the Dow Jones Industrial also seeing a negative session so far with -0.68%.
An analysis of the Carvana Co. (NYSE:CVNA) stock in terms of its daily trading volume indicates that the 3-month average is 20.19 million. However, this figure increases on the past 10-day timeline to an average of 11.22 million.
Current records show that the company has 106.22M in outstanding shares. The insiders’ percentage holdings are 1.50% of outstanding shares while the percentage share held by institutions stands at 94.96%. The stats also highlight that short interest as of Aug 30, 2023, stood at 33.99 million shares, which puts the short ratio at the time at 2.87. From this we can glean that short interest is 30.50% of company’s current outstanding shares. Notably, we see that shares short in August fall slightly given the previous month’s figure stood at 35.68 million. But the 936.92% upside, the stock’s price has registered year-to-date as of today’s value, will likely reignite investor interest given the prospect of it rallying even higher.
