Tech Times Daily

: Carvana stock rises in premarket on heavy volume after big rally in previous session

Carvana Co.’s stock CVNA is up 1% Friday, and is one of the most heavily traded in the premarket, after the stock jumped 56% in its previous session on a hiked outlook from the car seller. William Blair analyst Sharon Zackfia on Friday reiterated a market perform rating on Carvana and said the company’s progress is encouraging, but she’s seeking improved visibility on liquidity and free cash flow generation before any potential stock upgrade. William Blair upped its second-quarter adjusted gross profit per unit (GPU) estimate for Carvana to about $6,040 versus nearly $5,100 previously. William Blair also increased its projection for Carvana’s adjusted earnings before interest, taxes, depreciation and amortization to nearly $83 million, from an earlier view for a loss of $6 million on second-quarter used units sold of 78,000.

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