This is why Carvana stock is rallying today [Yahoo! Finance]
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Evercore Inc. Class A (EVR)
Last evercore inc. class a earnings: 4/22 06:00 am
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US:NYSE Investor Relations:
phx.corporate-ir.net/phoenix.zhtml?c=66653&p=irol-irhome
Company Research
Source: Yahoo! Finance
The investment firm added Carvana to its "positive tactical trading list" citing several factors that could drive the stock price higher. "We look for double digit upside for CVNA to the $115-$125 range," states the Evercore ISI note. Their optimism is based on a valuation comparison to digital retail leaders like RH (NYSE:RH) and WSM, which trade at a higher EV/S multiple. Evercore ISI believes Carvana is likely to outperform analyst expectations for the first quarter, citing "ongoing share gains amidst a growing used car industry backdrop." They project Carvana to report 27% growth in retail used units (to 97,000 units) and $254 million in EBITDA (up 64% year-over-year) when they report earnings in early August. The note also highlights a potential short squeeze, mentioning Carvana's short interest (24%) and the expectation that many shorts will cover their positions as the company's earnings approach. Evercore ISI acknowledges some potential risks, including moderating ind
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EVR
Earnings
- 4/24/24 - Miss
EVR
Sec Filings
- 6/21/24 - Form S-8
- 6/21/24 - Form 8-K
- 6/20/24 - Form 4
- EVR's page on the SEC website