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Fly News Breaks for May 29, 2019
CVNA
May 29, 2019 | 07:07 EDT
Citi analyst Nicholas Jones says his data for April suggests Carvana sold 14,530 retail units, or 35% of the Q2 consensus estimate, one month into the quarter. He points out the Q2 consensus for retail units imply 462 units per day and that his proprietary data suggests Carvana sold 484 units per day in April. Accordingly, if the company's units per day remain stable in May and June, it is on pace to beat consensus estimates for retail units by nearly 6%, Jones tells investors in a research note. He keeps a Buy rating on Carvana.
News For CVNA From the Last 2 Days
CVNA
Apr 24, 2024 | 08:00 EDT
Jefferies lowered the firm's price target on Carvana to $80 from $85 and keeps a Hold rating on the shares. The firm expects "another solid EBITDA print" as Carvana prioritizes unit economics over unit growth, the analyst tells investors in a preview note for the U.S. Internet group.
