(Finance) – Effervescent Carvanawhich trades with a decidedly positive performance of 32.44%.
The platform for the purchase and sale of used cars recorded its first annual profit in history in 2023.
For the first quarter of 2024, the company estimates adjusted profit “significantly higher” at $100 million. In light of these forecasts, Baird analysts changed Carvana’s financial outlook by raising the price target to $60 from the previous $35. The rating is confirmed at “neutral”.
On a weekly basis, the stock’s trend is more solid than that ofS&P-500. At the moment, therefore, the appeal of investors is aimed more decisively at Carvana compared to the reference index.
The medium-term analysis confirms the positive trend of Carvana. Although the short term highlights a easing of the bullish line at the test of the USD 75.01 top. First support seen at 65.13. Technically, a negative development towards the 60.85 support is expected in the short term.