.September 11, 2024, 6:06:20 PM

Stephens upgraded Carvana Co. (NYSE:CVNA) to Overweight from Equal-Weight, with the stock trading at $133.54, signaling confidence in the company’s growth potential. Carvana’s focus on strategic investments and improving economies of scale has led to an increase in gross profit per vehicle, showcasing operational efficiency. The latest earnings report highlights substantial improvements in gross profit margins, reflecting Carvana’s commitment to profitability. With a market capitalization of about $27.62 billion and a trading volume of 2,991,712 shares, Carvana’s stock price increase to $133.54 indicates positive market response and potential for sustained growth.