Market Analysts see Carvana Co. [CVNA] gaining to $40. Time to buy?

Carvana Co. [NYSE: CVNA] gained 7.46% or 3.12 points to close at $44.92 with a heavy trading volume of 5579189 shares. The company report on January 25, 2024 at 4:05 PM that Carvana to Report Fourth Quarter and Fiscal Year 2023 and Host Quarterly Conference Call on February 22.

Carvana Co. (NYSE: CVNA), the leading e-commerce platform for buying and selling used cars, today announced it will report its fourth quarter and fiscal year 2023 financial results for the period ended December 31, 2023, after the market closes on Thursday, February 22, 2024. On that day, management will hold a conference call and webcast at 5:30 p.m. ET (2:30 p.m. PT) to review and discuss the company’s business and results.

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The daily chart for CVNA points out that the company has recorded 2.04% gains over the past six months.

If we look at the average trading volume of 8.69M shares, CVNA reached to a volume of 5579189 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Carvana Co. [CVNA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CVNA shares is $39.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CVNA stock is a recommendation set at 3.26. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Carvana Co. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 04, 2023.

The Average True Range (ATR) for Carvana Co. is set at 3.46, with the Price to Sales ratio for CVNA stock in the period of the last 12 months amounting to 0.46. The Price to Book ratio for the last quarter was 15.10, with the Price to Cash per share for the same quarter was set at 8.66. Price to Free Cash Flow for CVNA in the course of the last twelve months was 29.61 with Quick ratio for the last quarter at 1.51.

Trading performance analysis for CVNA stock

Carvana Co. [CVNA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.09. With this latest performance, CVNA shares dropped by -17.41% in over the last four-week period, additionally plugging by 2.04% over the last 6 months – not to mention a rise of 591.08% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CVNA stock in for the last two-week period is set at 49.98, with the RSI for the last a single of trading hit 50.44, and the three-weeks RSI is set at 50.86 for Carvana Co. [CVNA]. The present Moving Average for the last 50 days of trading for this stock 43.26, while it was recorded at 43.06 for the last single week of trading, and 33.60 for the last 200 days.

Carvana Co. [CVNA]: A deeper dive into fundamental analysis

Carvana Co.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.51 and a Current Ratio set at 2.28.

Carvana Co. [CVNA]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Carvana Co. posted 0.39/share EPS, while the average EPS was predicted by analysts to be reported at -2.27/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 117.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CVNA.

An analysis of Institutional ownership at Carvana Co. [CVNA]

The top three institutional holders of CVNA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CVNA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CVNA stock with ownership which is approximately 5.8325%.