Is Carvana Co.’s (NYSE: CVNA) Stock Ready For A Price Spike?


In the last trading session, 4.0 million shares of the Carvana Co. (NYSE:CVNA) were traded, and its beta was 3.32. Most recently the company’s share price was $87.91, and it changed around -$2.4 or -2.66% from the last close, which brings the market valuation of the company to $10.22B. CVNA currently trades at a discount to its 52-week high of $94.04, offering almost -6.97% off that amount. The share price’s 52-week low was $6.70, which indicates that the current value has risen by an impressive 92.38% since then. We note from Carvana Co.’s average daily trading volume that its 10-day average is 4.74 million shares, with the 3-month average coming to 6.85 million.

Carvana Co. stock received a consensus recommendation rating of Hold, based on a mean score of 3.14. If we narrow it down even further, the data shows that 3 out of 23 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 18 recommended CVNA as a Hold, whereas 1 deemed it a Buy, and 1 rated it as Underweight. Carvana Co. is expected to report earnings per share of -$0.77 for the current quarter.

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Carvana Co. (NYSE:CVNA) trade information

Instantly CVNA has showed a red trend with a performance of -2.66% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 66.06% year-to-date, but still up 0.23% over the last five days. On the other hand, Carvana Co. (NYSE:CVNA) is 16.48% up in the 30-day period. We can see from the shorts that 29.43 million shares have been sold at a short interest cover period of 3.16 day(s).

The consensus price target as assigned by Wall Street analysts is $116.15, which translates to bulls needing to increase their stock price by 24.31% from its current value. Analyst projections state that CVNA is forecast to be at a low of $5 and a high of $470.

Carvana Co. (CVNA) estimates and forecasts

Carvana Co. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 115.31 percent over the past six months and at a -553.33% annual growth rate that is well below the industry average of 13.50%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 49.00% in revenue this quarter, and will report a decrease of -32.70% in the next quarter. The year-over-year growth rate is expected to be 3.30%, up from the previous year.

Consensus estimates provided by 17 financial analysts predict the company will bring in an average of $2.65 billion in revenue for the current quarter. 16 analysts expect Carvana Co. to make $2.88 billion in revenue for the quarter ending Jun 2024. Forecasts for the next quarter put sales growth at -3.10%.

CVNA Dividends

Carvana Co.’s next quarterly earnings report is expected to be released around May 02 and May 06.

Carvana Co. (NYSE:CVNA)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 8.91% of Carvana Co. shares, and 106.05% of them are in the hands of institutional investors. The stock currently has a share float of 116.43%. Carvana Co. stock is held by 385 institutions, with Morgan Stanley being the largest institutional investor. By Dec 30, 2023, it held 14.54% of the shares, which is about 16.95 million shares worth $1.49 billion.

Vanguard Group Inc, with 8.60% or 10.02 million shares worth $881.17 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

Morgan Stanley Inst Fd Inc-Growth Port and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Dec 30, 2023. The former held 3.71 million shares worth $325.91 million, making up 3.18% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 3.23 million shares worth around $284.13 million, which represents about 2.77% of the total shares outstanding.