Wall Street Can't Keep Up With This Surging E-Commerce Stock. Time to Buy?
One e-commerce stock just blew through every Wall Street analyst target. It is now the second-best-performing stock on the market this year out of nearly 4,000 that have market caps of more than $300 million.
What is this household name that has jumped more than 400% this year? I'm talking about Carvana (NYSE: CVNA), the online used car dealer that had fallen as much as 99% from its peak in last year's crash. The reasons behind Carvana's plunge were many. Used car prices fell back from all-time highs, sales slowed, and interest payments rose as the Fed hiked interest rates.
After telling investors that it would report adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of at least $50 million in the second quarter, the stock surged 56% on Thursday, passing even the most bullish Wall Street target along the way.
Source Fool.com
Carvana Co. Stock
Currently there is a rather negative sentiment for Carvana Co. with 3 Buy predictions and 7 Sell predictions..
The target price of 33 € compared with the current price of 108.46 € for the stock indicates a negative potential of -69.57%.
