Carvana Co ($CVNA) Stock Forecast: Up 5.1% Today

What is Carvana Co?

Carvana (NYSE: CVNA) is a rapidly growing online platform for buying and selling used cars, with a market capitalization of $18.95 billion. Today, the stock experienced a strong bullish movement.

Why is Carvana Co going up?

CVNA stock is up 5.1% on Sep 18, 2024 18:06

• 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.

CVNA Price Chart

CVNA News

Used Car Seller Carvana On Road To $15B Revenue By 2025 As Unit Growth Accelerates: BofA - Carvana ( NYSE:CVNA )

BofA Securities analyst Michael McGovern reinstated coverage on Carvana Co. CVNA with a Buy rating and a price target of $185. The analyst believes the company is well-positioned for sustained long-term growth in the $800 billion+ fragmented market.

https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40906185/used-car-seller-carvana-on-road-to-15b-revenue-by-2025-as-unit-growth-accelerates-b

Here's How Much You Would Have Made Owning Carvana Stock In The Last 5 Years - Carvana ( NYSE:CVNA )

Carvana CVNA has outperformed the market over the past 5 years by 1.79% on an annualized basis producing an average annual return of 15.44%. Currently, Carvana has a market capitalization of $18.95 billion.

https://www.benzinga.com/insights/news/24/09/40900692/heres-how-much-you-would-have-made-owning-carvana-stock-in-the-last-5-years

What the Options Market Tells Us About Carvana - Carvana ( NYSE:CVNA )

Investors with a lot of money to spend have taken a bearish stance on Carvana CVNA. We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga. Whether these are institutions or just wealthy individuals, we don't know.

https://www.benzinga.com/insights/options/24/09/40879271/what-the-options-market-tells-us-about-carvana

Carvana ( CVNA ) Outpaces Stock Market Gains: What You Should Know

Carvana (CVNA) reachead $141.90 at the closing of the latest trading day, reflecting a +0.98% change compared to its last close.

https://www.zacks.com/stock/news/2336171/carvana-cvna-outpaces-stock-market-gains-what-you-should-know

Carvana Adds Over $10B to Market Cap in 2024: Too Late to Buy Stock?

With continued improvements in its financial metrics, CVNA's story is far from over. But caution is advised while taking new positions in the stock at this time.

https://www.zacks.com/stock/news/2335826/carvana-adds-over-10b-to-market-cap-in-2024-too-late-to-buy-stock

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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.

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.

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.

13.07.2024 - CVNA Stock was up 8.4%

• The stock of Carvana (CVNA) experienced a strong bullish movement today.
• The bullish trend in Carvana's stock can be attributed to a wave of broader market enthusiasm following a softer-than-expected Producer Price Index (PPI) report.
• Deep-pocketed investors have shown a bullish sentiment towards Carvana, as indicated by a significant move in options trading activity favoring bullish positions.
• Despite some bearish options trading activity, the overall market sentiment and investor confidence in Carvana appear to be positive, driving the stock higher.

13.07.2024 - CVNA Stock was up 7.1%

• Amidst a volatile market landscape and negative sentiment towards certain stocks, Carvana (CVNA) displayed a robust bullish trend, reflecting investor confidence in its future growth prospects.
• The heightened options activity surrounding Carvana depicted a divergence of opinions among traders, with a notable proportion exhibiting bearish expectations. Nevertheless, the stock defied projections and surged upwards.
• Carvana's surpassing of second-quarter performance expectations and positive forecasts for adjusted EBITDA in 2024 likely fueled the bullish trajectory, enticing investors seeking growth opportunities in a challenging economic climate.
• The disparity in perspectives within the options market and Carvana's resilience following earnings reports indicate a scenario where despite some bearish predictions, the firm's fundamental strength and favorable outcomes are propelling its stock value upwards.

13.07.2024 - CVNA Stock was up 6.0%

• Carvana (CVNA) experienced a strong bullish movement today despite the overall market volatility and bearish sentiment in the options market.
• The positive movement could be attributed to Carvana's better-than-expected second-quarter results and optimistic outlook for full-year 2024 adjusted EBITDA.
• The options frenzy and mixed sentiment among traders may have added an element of uncertainty, but the company's solid financial performance likely reassured investors and contributed to the stock's upward trajectory.
• While meme stocks are facing scrutiny and potential sell-offs in the current market environment, Carvana's unique business model and strong financials seem to have positioned it favorably among investors.

07.07.2024 - CVNA Stock was down 5.2%

• There is a notable increase in bearish options trading for CVNA, with a majority of traders exhibiting pessimistic behavior, potentially influencing the stock's downward trajectory.
• Despite positive revisions in earnings estimates suggesting a possible uptick, concerns may have arisen among investors due to the sale of company shares by Carvana's CFO and chief product officer, contributing to the prevailing bearish sentiment.
• Though Carvana's strong Q2 2024 financial performance surpassed analyst expectations initially boosting investor confidence, the subsequent insider selling and bearish options activity seem to have outweighed this positive development, driving the bearish movement observed in the market today.

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.