Carvana Co. (NYSE:CVNA) price closed higher on Tuesday, October 22, and jumping 3.06% above its previous close.
A look at the daily price movement shows that the last close reads $191.49, with intraday deals fluctuated between $189.5 and $198.07. The company’s 5Y monthly beta was ticking 3.444 while its P/E ratio in the trailing 12-month period read 62.28. Taking into account the 52-week price action we note that the stock hit a 52-week high of $196.36 and 52-week low of $25.09. The stock added 12.67% on its value in the past month.
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Carvana Co., which has a market valuation of $24.44 billion, is expected to release its quarterly earnings report in November.
On average, analysts have forecast the company’s revenue for the quarter will hit 3.44B, with the likely lows of 3.17B and highs of 3.62B. The average estimate suggests sales growth for the quarter will likely rise by 23.80% 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 13.13B for the company’s annual revenue in current year. Per this projection, the revenue is forecast to grow 21.90% above that which the company brought in the current year earning report.
Technical indicators in stocks provide crucial insights into market trends, guiding investors with precise entry and exit points based on price movements for informed decision-making.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, 25 analysts have assigned CVNA a recommendation rating as follows: 11 rate it as a Hold; 12 advise Buy while 0 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the Carvana Co. (CVNA) stock as Underweight, with 2 recommending Sell. In general, analysts have rated the stock Buy, 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 7.10% off the SMA20 and 19.72% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 74.47, with weekly volatility standing at 3.27%. The indicator jumps to 3.39% when calculated based on the past 30 days. Carvana Co. (NYSE:CVNA)’s beta value is holding at 3.44, while the average true range (ATR) indicator is currently reading 6.69. Considering analysts have assigned the stock a price target range of $40-$470 as the low and high respectively, we find the trailing 12-month average consensus price target to be $155. Based on this estimate, we see that current price is roughly 79.73% off the estimated low and -138.16% off the forecast high. Investors will no doubt be excited to see the share price rise to $155, which is the median consensus price, and at that level CVNA would be 21.46% from current price.
An analysis of the Carvana Co. (NYSE:CVNA) stock in terms of its daily trading volume indicates that the 3-month average is 3.34 million. However, this figure increases on the past 10-day timeline to an average of 2.39 million.
Current records show that the company has 114.24M in outstanding shares. The insiders’ percentage holdings are 10.29% of outstanding shares while the percentage share held by institutions stands at 86.71%. The stats also highlight that short interest as of 2024-09-30, stood at 14.55 million shares, which puts the short ratio at the time at 4.38. From this we can glean that short interest is 1392.00 of company’s current outstanding shares. Notably, we see that shares short in September rose slightly given the previous month’s figure stood at 13.86 million. But the 272.78% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.
