D.A. Davidson analyst Michael Baker maintains $Carvana (CVNA.US)$ with a hold rating, and sets the target price at $240.
According to TipRanks data, the analyst has a success rate of 60.2% and a total average return of 6.6% 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 business operations persist in surpassing expectations, with the company's re-entry into the marketplace showcasing its significant 'infrastructure moat'. The enhancement of EBIDTA estimates reflects the company's strong positioning as a leading choice within the auto retail ecosystem.
Carvana has once more surpassed the expected Gross Profit per Unit estimates, which has led to an increase in gross profit dollars, coinciding with a predicted retail unit sales exceed. This occurred while maintaining a stable operating expenditure, resulting in an EBITDA that exceeded expectations by 30%. Forecasts for retail unit sales in the fourth quarter and thereafter are being adjusted upwards, guided by company insights and excess physical capacity. Carvana is focusing on expanding its inventory to enhance conversion rates and unit growth.
The firm acknowledges Carvana's third-quarter results, especially noting the gross profit per unit of $7,685, which surpassed the Street's estimated $6,599 as a highlight of the quarter.
Note:
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