Carvana Co. (CVNA) Tops Q2 EPS by 67c, Sales Easily Beat

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Go back to Carvana Co. (CVNA) Tops Q2 EPS by 67c, Sales Easily Beat

Carvana (CVNA) PT Raised to $400 at Needham & Company

August 9, 2021 7:18 AM EDT

Needham & Company analyst Chris Pierce raised the price target on Carvana (NYSE: CVNA) to $400.00 (from $325.00) while maintaining a Buy rating.

The analyst commented, "Another installment of this franchise delivers. CVNA beat handily on 2Q revenues and EBITDA, while reporting their first... More

Carvana (CVNA) Delivers First Quarterly Profit to Smash Estimates, Shares Surge as Firms Hike PTs Following a 'Milestone Quarter'

August 6, 2021 6:57 AM EDT

Shares of Carvana (NYSE: CVNA) are trading 9% higher in pre-open Friday after the car company reported its first quarterly profit to surprise Wall Street analysts.

Carvana said it earned $0.26 per share, significantly better than a loss of $0.62 per share reported a year ago. Sales soared almost 200% to $3.3 billion. Analysts surveyed by FactSet were expecting a loss of $0.39 per share on sales of $2.46 billion.

This quarter marks the first time the company delivered a profit. Furthermore, it marks the first quarter with over 100,000 delivered cars.

This was a landmark quarter for Carvana. We... More