Carvana (NYSE: CVNA) stock has shown an upside ride since the last 1-month, indicating low trading volume. However with this low trading volume, the price movement of the stock was quite good, raising its price nearly 92% in 1-month and showing an over 512% rise in its year-to-date (YTD) price analysis.
CVNA Stock Price Analysis
The CVNA stock price added $5.14 in its trading price and closed at $29.45 with a nearly 21% price gain on July 7, 2023, Friday’s trading session. Notably, during the session, the opening price of the stock was $24.85, while high was $29.81 and low was $24.68. Moreover, the weekly price showed almost 10% of the price rise.
As shown in the above price chart, the price of the CVNA stock is trading quite up from its 200-day moving average. With the bullish surge, the stock price has taken an upside ride, which also brought the RSI of Carvana stock near to the overbought zone.
The recent bullishness views the CVNA stock performance to be quite similar to its mid-September performance last year. However, mid August 2022, CVNA stock had noted its 52-week high. Notably, Carvana Co. will release its upcoming quarterly (Q2 2023) result on August 3, 2023. Thus, the recent trading volume activity with the upside trend can be said to be the investors’ interest in the company.
As per the recent price performance, it can be said the CVNA stock price may once again repeat its previous year’s performance, especially if bulls continue their current support.
The Fundamentals of Carvana Co.
Carvana Co. (NYSE: CVNA), an online used car dealer company, has nearly $5.56 Billion of market cap. As per its Q1 2023 report released on May 4, 2023, its net income is negative $160.00 Million. The reported earnings per share (EPS) is negative $1.51, whereas the estimate was negative $2.13, which accounts for an over 28% surprise.
On the other hand, the reported revenue is $2.61 Billion while the estimate was $2.64 Billion. Now, for the upcoming quarter, the company’s estimate for EPS is negative $1.22 while the revenue is expected to reach $2.60 Billion.
Last year, Carvana Co.’s revenue amounted to $13.60 Billion, most of which around $10.25 Billion came from its highest performing source at the moment, Retail Vehicle. Furthermore, the U.S. has made the greatest contribution to the revenue figure, bringing $13.60 Billion last year.
