Carvana Co. (NYSE:CVNA) shares, rose in value, with the stock price up by 0.05% to the previous day’s close as strong demand from buyers drove the stock to $82.44.
Actively observing the price movement in the last trading, the stock closed the session at $82.40. The value of beta (5-year monthly) was 3.32 whereas the PE ratio was 111.03 over 12-month period. Referring to stock’s 52-week performance, its high was $94.04, and the low was $6.70. On the whole, CVNA has fluctuated by 6.61% over the past month.
With the market capitalization of Carvana Co. currently standing at about $9.59 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 02, 2024 – May 06, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.77, which is expected to increase to -$0.3 for fiscal year -$3.1 and then to about -$2.46 by fiscal year 2025. Data indicates that the EPS growth is expected to be -513.30% in 2025, while the next year’s EPS growth is forecast to be 20.60%.
Analysts have estimated the company’s revenue for the quarter at $2.65 billion, with a low estimate of $2.53 billion and a high estimate of $2.82 billion. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $11.12 billion, representing an increase of 3.30% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CVNA’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CVNA currently trading nearly -0.80% and 23.63% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 54.73, while the 7-day volatility ratio is showing 5.00% which for the 30-day chart, stands at 6.12%. Furthermore, Carvana Co. (CVNA)’s beta value is 3.31, and its average true range (ATR) is 5.25.
A comparison of Carvana Co. (CVNA) with its peers suggests the former has fared considerably weaker in the market. CVNA showed an intraday change of 0.05% in last session, and over the past year, it grew by 787.41%%.
Data on historical trading for Carvana Co. (NYSE:CVNA) indicates that the trading volumes over the past 10 days have averaged 3.85 million and over the past 3 months, they’ve averaged 6.59 million. According to company’s latest data on outstanding shares, there are 114.24 million shares outstanding.
Nearly 17.20% of Carvana Co.’s shares belong to company insiders and institutional investors own 98.06% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 29.43 million shares as on Mar 15, 2024, resulting in a short ratio of 3.16. According to the data, the short interest in Carvana Co. (CVNA) stood at 25.31% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 33.33 million. The stock has risen by 55.72% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CVNA stock heading into the next quarter.
