Carvana Co ($CVNA) Stock Forecast: Down 5.4% Today

What is Carvana Co?

Carvana (NYSE: CVNA) operates as an e-commerce platform specializing in used car transactions, demonstrating robust market performance.

Why is Carvana Co going down?

CVNA stock is down 5.4% on Nov 1, 2024 14:10

• Despite Carvana's strong Q3 results and revenue expansion exceeding expectations, its stock witnessed a bearish trend.
• Potential profit-taking actions by investors could have been triggered by an exaggerated market response to the positive developments.
• Uncertainties regarding Carvana's growth sustainability and the competitive dynamics in the used car sector may have raised concerns among traders.
• The downward movement in CVNA's stock price could have been influenced by external market forces or broader economic anxieties.

CVNA Price Chart

CVNA Technical Analysis

CVNA News

These Analysts Boost Their Forecasts On Carvana After Strong Q3 Results - Carvana ( NYSE:CVNA )

Carvana Co. CVNA reported better-than-expected third-quarter financial results on Wednesday. Carvana reported third-quarter revenue of $3.66 billion, beating the consensus estimate of $3.45 billion, according to Benzinga Pro.

https://www.benzinga.com/news/earnings/24/10/41660461/these-analysts-boost-their-forecasts-on-carvana-after-strong-q3-results

Carvana Stock Is Rallying Thursday: What's Driving The Action? - Carvana ( NYSE:CVNA )

Carvana Co CVNA shares are trading higher Thursday after the company reported better-than-expected results for the third quarter. Q3 Revenue: $3.66 billion, versus estimates of $3.45 billion Q3 EPS: 64 cents, versus estimates of 17 cents Total revenue was up 32% year-over-year.

https://www.benzinga.com/news/earnings/24/10/41654219/carvana-stock-is-rallying-thursday-whats-driving-the-action

Is Carvana ( CVNA ) Outperforming Other Retail-Wholesale Stocks This Year?

Here is how Carvana (CVNA) and Nordstrom (JWN) have performed compared to their sector so far this year.

https://www.zacks.com/stock/news/2361716/is-carvana-cvna-outperforming-other-retail-wholesale-stocks-this-year

CVNA Puts Up Stellar Q3 Show: Earnings & Sales Top Estimates, Rise Y/Y

For full-year 2024, Carvana expects adjusted EBITDA to be significantly above the high end of the prior guided range of $1-$1.2 billion.

https://www.zacks.com/stock/news/2361427/cvna-puts-up-stellar-q3-show-earnings-sales-top-estimates-rise-yy

Why Carvana Shares Are Trading Higher By Around 20%; Here Are 20 Stocks Moving Premarket - Carvana ( NYSE:CVNA )

Shares of Carvana Co. CVNA rose in today's pre-market trading after the company reported better-than-expected third-quarter financial results. Carvana reported third-quarter revenue of $3.66 billion, beating the consensus estimate of $3.45 billion, according to Benzinga Pro.

https://www.benzinga.com/news/24/10/41648504/why-carvana-shares-are-trading-higher-by-around-20-here-are-20-stocks-moving-premarket

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Carvana Co Price History

16.07.2024 - CVNA Stock was up 5.1%

• The bullish movement in CVNA stock today could be attributed to the positive sentiment surrounding the company's operational efficiency, cost management, and clear plan for profitability and growth.
• The director selling over $1.1 million in company stock may have initially raised concerns, but the overall market sentiment remains bullish.
• The continued success and growth of Carvana despite warnings of caution indicate that investors are optimistic about the company's future prospects, driving the stock higher.

16.08.2024 - CVNA Stock was up 5.0%

• The bullish movement in CVNA today could be attributed to the positive sentiment in the options market, where investors have taken a bullish stance on the stock.
• Despite some fluctuations during the trading day, CVNA managed to outpace the overall stock market gains, indicating strong investor interest in the company.
• The addition of over $10 billion to Carvana's market cap in 2024 suggests that investors are optimistic about the company's future growth potential, driving the stock price higher.
• The slight dip in CVNA shares later in the day could be due to profit-taking or market fluctuations, but the overall bullish trend seems to be intact.

08.09.2024 - CVNA Stock was up 5.4%

• Carvana (CVNA) experienced a strong bullish movement today, outperforming the market.
• The positive movement can be attributed to the company exceeding market returns and beating the stock market upswing, indicating strong investor confidence in Carvana's business model and growth prospects.
• The consistent upward trend in Carvana's stock price could be driven by increasing demand for online car buying solutions, especially in the current digital age where consumers seek convenience and safety in their purchasing experiences.
• Investors may be optimistic about Carvana's ability to capture a larger market share in the automotive industry, leading to a positive outlook for the company's stock performance in the near future.

06.08.2024 - CVNA Stock was down 5.3%

• Unusual options activity indicating a bearish stance by investors may have influenced the recent downward movement in Carvana's stock price.
• Although the options market sentiment is bearish, the formation of a hammer chart pattern and an upward trend in earnings estimate revisions suggest potential support for the stock and the possibility of a reversal in the near future.
• Momentum investors should be cautious when considering Carvana as a stock pick amidst the current bearish trend, but the existing support levels and positive earnings prospects could offer a buying opportunity for investors focusing on the company's long-term performance.

17.08.2024 - CVNA Stock was up 5.1%

• Carvana's stock displayed a robust bullish movement today, closing at $141.90, representing a +0.98% change from the previous close.
• Despite the overall positive trend, there were indications of bearish attitudes in the options market, suggesting that certain investors with substantial funds have adopted a negative view on CVNA.
• With an annual outperformance of 1.79% above the market in the past five years, the stock has contributed to its current market capitalization of $18.95 billion.
• The minor decline in the stock price during trading hours could be due to profit-taking following a notable increase in market capitalization, leading investors to review their positions.

31.09.2024 - CVNA Stock was up 17.9%

• Carvana (CVNA) had a strong bullish movement today following its impressive Q3 earnings performance.
• The company reported better-than-expected third-quarter financial results, with revenue of $3.66 billion, surpassing the consensus estimate of $3.45 billion.
• Carvana's stock surged as adjusted EBITDA for full-year 2024 is expected to exceed the high end of the prior guided range, indicating strong growth prospects.
• The market reacted positively to Carvana's performance, reflecting investor confidence in the company's continued success and growth potential in the used car market.

31.09.2024 - CVNA Stock was up 21.2%

• Carvana (CVNA) saw a robust upward trend today following the announcement of its third-quarter financial results, which outperformed market forecasts.
• The primary factors behind Carvana's positive performance consist of a notable 32% year-over-year revenue surge, with Q3 revenue hitting $3.66 billion, exceeding the expected $3.45 billion.
• Additionally, Carvana's earnings per share (EPS) of 64 cents significantly surpassed the anticipated 17 cents, demonstrating the firm's impressive financial results and growth trajectory.
• Carvana's optimistic forecast, with anticipated adjusted EBITDA well above the prior full-year 2024 guidance, boosted investor confidence in the company's future potential, contributing to the positive market momentum.

05.08.2024 - CVNA Stock was down 5.1%

• The bearish movement in CVNA today could be attributed to profit-taking by investors after a recent uptrend in the stock price.
• Despite the bearish movement, the formation of a hammer chart pattern and positive earnings estimate revisions suggest that CVNA may experience a trend reversal in the near future.
• The stock's resilience and potential for growth are highlighted by the support level it has found and the positive impact of its last earnings report, indicating a promising outlook for momentum investors.

12.08.2024 - CVNA Stock was up 5.2%

• Despite a brief dip earlier in the trading session, Carvana's stock rallied significantly by the end of the day.
• The bearish options activity reported may have initially caused some downward pressure on the stock price.
• However, investors seemed to have regained confidence in Carvana, leading to the bullish surge.
• This could indicate that the market believes in the long-term growth prospects of the company, overshadowing short-term concerns highlighted elsewhere.

18.08.2024 - CVNA Stock was up 5.1%

• An analyst reinstated coverage on Carvana with a Buy rating and a price target of $185, citing the company's well-positioning for sustained long-term growth in the fragmented market, likely boosting investor confidence and driving the stock price higher.
• Over the past 5 years, Carvana has consistently outperformed the market, showcasing its growth and potential for long-term profitability, attracting more investors to the stock.
• Despite the bullish market movement, there were indications of bearish sentiment in the options market, suggesting differing investor opinions on Carvana's future performance.
• With the stock outpacing market gains and adding over $10 billion to its market cap in 2024, some investors are cautious about buying the stock, indicating a potential careful approach despite the positive momentum.

01.10.2024 - CVNA Stock was down 5.4%

• Despite Carvana's strong Q3 results and revenue expansion exceeding expectations, its stock witnessed a bearish trend.
• Potential profit-taking actions by investors could have been triggered by an exaggerated market response to the positive developments.
• Uncertainties regarding Carvana's growth sustainability and the competitive dynamics in the used car sector may have raised concerns among traders.
• The downward movement in CVNA's stock price could have been influenced by external market forces or broader economic anxieties.

15.07.2024 - CVNA Stock was up 5.6%

• Carvana's stock has surged over 270% in the past year, attracting investor attention and driving the upward trend.
• The company's emphasis on operational efficiency, cost management, and a clear strategy for profitability and growth has resonated well with investors.
• However, caution is advised as an insider recently sold over $20 million in company stock, which could impact market sentiment.
• Carvana's strategic decisions, such as ending relationships with Meta and acquiring new stakes in Uber and MercadoLibre, may have also contributed to the favorable market sentiment surrounding the company.