Carvana's Strong Q1 Performance Attracts Analysts Praise, Stock Soars
Carvana's Strong Q1 Performance Attracts Analysts Praise, Stock Soars
Carvana Co. (NYSE:CVNA) shares are jumping today following yesterday's first-quarter FY24 results. Several analysts raised the price target on the stock.
Carvana Co.纽约证券交易所代码：CVNA）继昨天公布24财年第一季度业绩之后，今天股价上涨。几位分析师提高了该股的目标股价。
Carvana reported revenue of $3.061 billion, which beat the consensus estimate of $2.673 billion. The company reported adjusted EBITDA of $235 million.
Carvana公布的收入为30.61亿美元，超过了市场普遍预期的26.73亿美元。该公司报告调整后的息税折旧摊销前利润为2.35亿美元。
The company anticipates a sequential increase in its year-over-year growth rate in retail units in the second quarter. The company also expects a sequential increase in adjusted EBITDA.
该公司预计，第二季度零售单位的同比增长率将连续上升。该公司还预计，调整后的息税折旧摊销前利润将连续增长。
Wedbush analyst Seth Basham raised the price target from $80 to $120 while maintaining a Neutral rating.
Wedbush分析师塞思·巴沙姆将目标股价从80美元上调至120美元，同时维持中性评级。
The analyst writes that the company is better positioned to support growth than in the past, with better technology and processes in place and existing infrastructure to grow into.
该分析师写道，与过去相比，该公司更有能力支持增长，拥有更好的技术和流程以及现有的基础设施可供发展。
The analyst says that at this level of annualized EBITDA, the company can now cover its interest expense on outstanding debt in cash and plans to pay interest in cash on its 2028 and 2030 notes starting in 2025.
该分析师表示，按照这种年化息税折旧摊销前利润水平，该公司现在可以现金支付未偿债务的利息支出，并计划从2025年开始以现金支付2028年和2030年票据的利息。
Consequently, the analyst now forecasts units sequentially increasing through the year (+24% Y/Y for FY24, up from +16% Y/Y prior) and adjusted EBITDA of $883 million (up from $568 million earlier).
因此，分析师现在预测全年单位将连续增长（24财年同比增长24％，高于同比增长16％），调整后的息税折旧摊销前利润为8.83亿美元（高于之前的5.68亿美元）。
Needham analyst Chris Pierce reiterated the Hold rating and writes that Carvana has regained its position as the apex predator in used auto retailing with an ample runway for further unit growth and is now operating from a position of profitable growth.
Needham分析师克里斯·皮尔斯重申了持有评级，并写道，Carvana已经恢复了其作为二手车零售业顶级掠夺者的地位，为进一步的单位增长提供了充足的空间，目前正以盈利增长的姿态运营。
The analyst sees increasing flexibility with the company's current debt picture, with an option for eventual refinancings, decreasing interest payments and pushing more earnings to bottom line.
这位分析师认为，公司当前的债务状况越来越灵活，可以选择最终进行再融资，减少利息支付，将更多收益推向利润。
Pierce says that they see a natural limit to gross profits, with the company 'competing for inventory from consumers and at auction while having to price similarly to peers at retail given readily available pricing information on aggregator sites.
皮尔斯说，他们认为毛利润自然受到限制，该公司 “在消费者和拍卖会上争夺库存，而鉴于聚合商网站上随时可用的定价信息，他们不得不与零售业同行进行类似的定价。
The analyst expects the customer experience and integrated lending platform to aid Carvana in driving unit growth.
分析师预计，客户体验和综合贷款平台将帮助Carvana推动单位增长。
Also, JP Morgan increased the price target on Carvana from $70 to $130. JP Morgan analyst Rajat Gupta upgraded the stock from Neutral to Overweight.
此外，摩根大通将Carvana的目标股价从70美元上调至130美元。摩根大通分析师拉杰特·古普塔将该股从中性上调至增持。
Investors can gain exposure to the stock via Global X E-Commerce ETF (NASDAQ:EBIZ) and Amplify ETF Trust Amplify Online Retail ETF (NYSE:IBUY).
投资者可以通过Global X电子商务ETF（纳斯达克股票代码：EBIZ）和Amplify ETF Trust Amplify在线零售ETF（纽约证券交易所代码：IBUY）获得股票敞口。
Price Action: CVNA shares are trading up 32.9% to $115.71 at the last check Thursday.
价格走势：在周四的最后一次支票中，CVNA股价上涨32.9％，至115.71美元。
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