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Carvana CEO Ernie Garcia joins 'Squawk on the Street' to discuss how Garcia has turned the company around so fast, how the founder is driving revenue growth while maintaining profits, and much more.
Carvana (NYSE: CVNA ) stock is on the move Thursday after the used car retailer's share got a new price target from JPMorgan analyst Rajat Gupta. This has the JPMorgan analyst increasing his price target for CVNA stock from $70 per share to $130 per share.
Here is how Carvana (CVNA) and Kroger (KR) have performed compared to their sector so far this year.
Carvana Co (NYSE:CVNA) stock is surging today, up 35% to trade at $117.69, after the online used-car retailer reported first-quarter earnings of 23 cents per share -- much higher than the expected loss of 64 cents -- on revenue of $3.1 billion.
The company just reported a revenue beat, a jump in vehicles sold at retail, and upbeat forecasts.
Shares of Carvana Co. are going through the roof in premarket trading this morning after the online used-car retailer posted what its CEO and CFO called its “best financial results in company history.” Carvana stock (ticker: CVNA) is up over 37% in premarket trading as of the time of this writing to $119.49 per share.
Carvana (NYSE: CVNA ) stock is rocketing higher on Thursday after the used-car retailer posted its earnings report for the first quarter of 2024. Carvana starts its report strong with adjusted earnings per share of 23 cents.
Used car vending machine operator Carvana Co. (NYSE:CVNA) flew nearly 40% higher in Thursday's pre-market trades following a surprisingly bullish first-quarter result and upbeat sales forecast. Carvana brokered 91,878 unit sales in the quarter, a 16% year-over-year increase, bringing in total revenues of $3.06 billion, a 17% increase.
Carvana (NYSE: CVNA) stock price has risen from the ashes, becoming one of the best performing companies in Wall Street. It jumped by more than 30% in the pre-market session, reaching a high of $121.7, its highest level since April 2022.
Carvana (NYSE: CVNA) turned the tide on its recent challenges. Previously, it grappled with declining sold vehicles and a surplus of used cars, raising concerns about potential bankruptcy in 2022.