AI Prospecting for Carvana

Carvana reported strong Q3 2024 results with a net income of $148 million and Adjusted EBITDA of $429 million, driven by 34% year-over-year retail unit growth and 32% increase in total revenue to $3.655 billion. The company also expanded its same-day delivery service to Las Vegas and is integrating an Inspection and Reconditioning Center at its ADESA Boston site, creating 200 new jobs[1][2][4].

Carvana's stock price target has been revised to $293 by Zacks Research, reflecting potential growth in the next 6-12 months, driven by its robust turnaround strategy, operational efficiency, and the acquisition of ADESA's U.S. operations, which enhances its logistics and reconditioning capabilities[1]. Point72 DIFC Ltd reduced its stake in Carvana by 40.3% in the third quarter, while Sassicaia Capital Advisers LLC and Forum Financial Management LP have recently taken or increased positions in the company[2][3]. Several analysts have upgraded Carvana's target price, with JPMorgan Chase & Co. setting a target of $300 and JMP Securities at $320, reflecting positive outlooks on the company's performance[3].

Sassicaia Capital Advisers LLC and Forum Financial Management LP have recently taken or increased positions in Carvana, with Sassicaia buying 2,000 shares valued at approximately $348,000 in the third quarter[2]. Carvana announced the integration of Inspection and Reconditioning Center (IRC) capabilities at its existing ADESA Boston wholesale auction site, creating an auction-IRC 'Megasite' and approximately 200 new jobs[1]. Carvana's Q3 2024 EV Trends Report showed a 226% year-over-year rise in EV-related searches and page views, highlighting consumer preference for luxury features and newer models with lower mileage[1].