A 'lengthened' path to profitability has Cowen concerned over the long-term trajectory for battered used vehicle stock Carvana . Analyst John Blackledge downgraded the company to market perform from outperform in a note to clients Monday. Carvana shares dipped slightly in the premarket. "CVNA has not met '22 profit targets while carrying a significant debt load," he wrote, adding that he now estimates the company won't achieve EBITDA profitability until 2024.
The analyst previously had a price target of $55. Analysts have continued to bail on Carvana as its business struggles amid a murky macro picture. Earlier this month, the company posted a d ecline in virtually every aspect of its business for the third quarter and a miss on both the top and bottom lines.
Why don't they just say they are downgrading it because it's a scam
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Carvana Faces Cash Crunch From High Debt, Rising Interest RatesThe used-car dealer that was a pandemic winner is rushing to conserve cash as once-plentiful financing options dry up and business deteriorates. they deserve to go under, hoarding all the decent used cars and jacking the prices up, putting the mobility of the working class in peril, boo this brand booooo
Source: WSJ - 🏆 98. / 63 Read more »
Stocks making the biggest moves in the premarket: Walt Disney, Carvana, Coinbase and moreThe stocks making the biggest moves in premarket trading include Walt Disney, Carvana, Coinbase, and more.
Source: CNBC - 🏆 12. / 72 Read more »
Here are Monday's biggest analyst calls: Amazon, Nio, Disney, Carvana, Coinbase, Costco & moreAnalyst call of the day for CNBCPro subscribers: JPMorgan reiterates Amazon as top idea and says the e-commerce giant is well positioned heading into the holiday season. Subscribe to see the analyst calls of the day curated by CNBC Pro. Pro Sure is a lot of financial BS being spread this morning.
Source: CNBC - 🏆 12. / 72 Read more »
Tempe-based Carvana lays off 1,500 more employees as company's losses growUsed-car seller Carvana, facing weak car sales and losses, laid off 1,500 more staff. The company has cut almost 20% of its employees in 2022.
Source: azcentral - 🏆 585. / 51 Read more »
Hook Entertainment CEO Kwon Jin Young says she is 'ashamed and sorry' regarding Lee Seung Gi's stolen profit claims | allkpopHook Entertainment CEO Kwon Jin Young is responding to Dispatch's allegations that the agency stole profi… She foreal right now? No no no he deserves better 😭😭😭 Purr
Source: allkpop - 🏆 573. / 51 Read more »
Ukraine live briefing: Zelensky cites 400 shelling incidents in the east as fighting wears onFierce battles continue in Ukraine’s east, with the Luhansk region recording about 400 incidents of shelling in the past day, President Zelensky said Sunday. Follow today's live coverage of the war. - We must stop letting Zelensky demand money & weapons from US taxpayers while he is trying to drag us into World War3. No more money will go to Ukraine. It’s time to end this war & demand peace. But, but, I thought Ukraine was 'winning', what happened? 🤔
Source: washingtonpost - 🏆 95. / 72 Read more »