Carvana's stock surged 5.3% on high volume with upgraded rating and positive earnings forecast

From Nasdaq: 2025-03-21 07:59:00

Carvana (CVNA) stock surged 5.3% to $185.42 on high volume. Piper Sandler upgraded the rating, boosting investor confidence. Bank of America stated Amazon’s entry won’t hurt Carvana. Q1 earnings are expected at $0.71 per share, up 273.2% YoY, with revenues of $3.95 billion, a 29% increase.

Earnings estimate revisions show a strong correlation with stock price movements. CVNA’s EPS estimate has risen 7.4% in the last 30 days. The stock holds a Zacks Rank #2 (Buy). In the same industry, Alibaba (BABA) closed 4.4% lower at $136.91, with a 13.8% return in the past month.

Alibaba’s EPS estimate for the upcoming report rose 14.8% in the past month to $1.37. This reflects a -2.1% change from a year ago. Alibaba has a Zacks Rank of #1 (Strong Buy). Zacks offers a $1 trial for access to all picks, including Surprise Trader and Technology Innovators, with double- and triple-digit gains in 2024.

For Free Stock Analysis Reports on Carvana Co. (CVNA) and Alibaba Group Holding Limited (BABA), visit Zacks Investment Research. Check out the original article on Zacks to explore further insights. Remember, the author’s views may differ from Nasdaq, Inc.



Read more at Nasdaq: Carvana (CVNA) Soars 5.3%: Is Further Upside Left in the Stock?