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Stock of the Day for November 23, 2024


CARVANA STOCK REPORT

NYSE:CVNA Carvana
Current Price
$259.36
+10.98 (+4.42%)
(As of 11/22/2024 ET)
30 Day Performance29.56%

  

 

90 Day Performance62.32%

  

 

1 Year Performance726.51%

  

 

Market Capitalization$53.85B
P/E Ratio25,961.96
Price Target$217.71


ABOUT CARVANA

Carvana Co. was founded in 2012 by Ernest Garcia and two partners. Today Carvana
is a leading used-car dealer nationwide, the fastest growing in the US and
well-known for its chain of used car vending machines. The vending machines
allow pre-approved buyers to pick up their purchases at one of 32 locations
nationwide. Other buyers can have their vehicles delivered directly to their
door or to a location of their choice. Ernest Garcia III remains as CEO as of
2022. He and his father, Ernest Garcia II, are among the company’s largest
shareholders.

The company operates an e-commerce platform that provides an end-to-end car
buying experience without the hassles of dealers or dealerships. The platform
can offer no-haggle pricing by leveraging its database of used vehicles and
readily available data for local car markets. Buyers can search for and find
vehicles, view them using the website's propriety technology, obtain financing
and even register their new car or get insurance.

The company’s rise to fame was meteoric. The first vending machine was launched
in 2013, leading to the brand's rapid expansion. The 1st fully-automated vending
machine was opened in 2015 and then later, in 2017, the company held its initial
public offering. The company IPOd on the New York Stock Exchange and saw its
share price quickly double, triple, and quadruple as used-car trends and growing
brand recognition boosted sales.

The post-IPO years included major acquisitions, including vehicle-data company
Carlypso and imaging firm Car360, which greatly enhanced the website and
car-buying experience. In 2020, with the onset of the COVID-19 pandemic, the
company initiated touchless delivery that allowed consumers to receive their
vehicles with minimal interaction. Consumers can also sell their used cars to
the company in exchange for cash or trade value. The trade-in business is a
source of products for the company and is a key to its success.

All Carvana used cars are inspected a reconditioned by a team of industry
professionals. They have no reported fire, frame or flood damage and are
certified by CARFAX and AutoCheck data. Once purchased, consumers have 7 days to
test drive and return the vehicle with no charge. The total number of retail
units sold in F2021 topped 425,000 and resulted in $12.84 billion in revenue, or
a growth of 129%. Cars that don’t make the cut are sold off through the
wholesale unit, which is a significant portion of the business. The company has
a presence in 47 contiguous US states and is planning to deepen and expand its
coverage.

Legal issues began to mount in 2021 when the first of several states filed suit
against the company. Among the complaints were a failure to properly register
vehicles and deliver paperwork to consumers among other violations of state and
local car-buying regulations. The suits have resulted in a number of states
banning the company from operating, some indefinitely.






CVNA COMPANY CALENDAR

OCT. 30, 2024
Last Earnings
NOV. 23, 2024
Today
DEC. 31, 2024
Fiscal Year End
FEB. 27, 2025
Next Earnings (Estimated)


RECENT CARVANA NEWS

Sat. November 23, 2024 6:05 AM EST | marketbeat.com
Eagle Asset Management Inc. Takes Position in Carvana Co. (NYSE:CVNA)
Sat. November 23, 2024 3:15 AM EST | marketbeat.com
Carvana Co. (NYSE:CVNA) Shares Sold by Victory Capital Management Inc.
Fri. November 22, 2024 12:01 PM EST | marketbeat.com
Carvana (NYSE:CVNA) Reaches New 52-Week High - What's Next?
Thu. November 21, 2024 6:42 PM EST | markets.businessinsider.com
Carvana plans for auction and reconditioning ‘Megasite’ integration in Boston
Thu. November 21, 2024 6:42 PM EST | finance.yahoo.com
Carvana Expands with Boston Auction Hub Transformation
Thu. November 21, 2024 3:15 PM EST | seekingalpha.com
The Art Of Being A Contrarian With Courage & Conviction Investing
Thu. November 21, 2024 4:00 AM EST | marketbeat.com
Swiss National Bank Buys 13,400 Shares of Carvana Co. (NYSE:CVNA)
Thu. November 21, 2024 3:51 AM EST | marketbeat.com
Natixis Advisors LLC Acquires 2,054 Shares of Carvana Co. (NYSE:CVNA)
Wed. November 20, 2024 8:43 AM EST | stockhouse.com
Carvana Announces Auction-IRC 'Megasite' Integration in Boston Area
Wed. November 20, 2024 7:16 AM EST | marketbeat.com
PCJ Investment Counsel Ltd. Raises Stock Holdings in Carvana Co. (NYSE:CVNA)
This report was written by MarketBeat.com on November 23, 2024. This report
first appeared on MarketBeat.com.

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