Jefferies analyst John Colantuoni says that despite concerns around subprime softness, Carvana (CVNA) combined a fourth straight quarter of 40%-plus unit growth with consistent unit economics in Q3. The company’s strong growth reinforces the firm’s confidence in long-term share gains, adds the analyst, who recommends buying any weakness and keeps a Buy rating and $475 price target on Carvana shares.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CVNA:
- Carvana Co: Strong Market Position and Strategic Growth Opportunities Amid Short-term Volatility
- Carvana price target lowered to $385 from $405 at BofA
- Carvana Co: A Leading Large-Cap Growth Story with Strong Execution and Long-Term Potential
- Carvana’s Record-Breaking Q3 Performance and Strategic Growth Initiatives
- Carvana (CVNA) Stock Falls Despite Strong Q3 Revenue Growth. Here’s Why