Evercore analyst Michael Montani maintains $Carvana (CVNA.US)$ with a hold rating, and adjusts the target price from $178 to $225.
According to TipRanks data, the analyst has a success rate of 56.9% and a total average return of -0.2% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Carvana (CVNA.US)$'s main analysts recently are as follows:
Carvana's core operations persist in surpassing expectations, and the company's re-entry into the marketplace showcases its 'infrastructure moat.' Subsequent adjustments have led to increased EBITDA projections, affirming the company's prominent position in the auto retail ecosystem.
The firm acknowledges Carvana's Q3 outcomes, particularly noting the gross profit per unit achieved during the quarter, which surpassed the Street's expectations.
The firm noted Carvana's exceptional results, highlighting rapid market share gains and significant profit growth. Retail volume soared by 34% to 108,651 vehicles, with expectations for the pace to further quicken in Q4.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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