CVNA - Carvana's Q4 Earnings Impress Analysts Shares Surge On Strong Profit Outlook | Benzinga
Shares of Carvana Co (NYSE: CVNA) were climbing in early trading on Friday, after the company reported its fourth-quarter results.
The results came amid an exciting earnings season. Here are some key analyst takeaways from the release.
RBC Capital Markets On Carvana
Analyst Brad Erickson maintained an Underweight rating, while raising the price target from $24 to $45.
Carvana reported "mixed” results for the quarter, Erickson said. "Units, revenue and EBITDA missed and while we believe management guided FY24 units below Street, the much stronger EBITDA outlook trumped all of it and is driving the squeeze,” he wrote.
"Positively, the company continues to show outsized GPU (gross profit per unit) improvement and is giving bulls hope of being on the doorstep of a bigger return to volume growth,” the analyst further stated.
Wedbush On Carvana
Analyst Seth Basham reaffirmed a Neutral rating, while lifting the price target from $50 to $60.
Carvana reported its fourth-quarter results "mostly in line with expectations on the top- and bottom-lines, but issued 1Q24 EBITDA guidance well ahead of consensus,” ...