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12 hours ago
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Analyst revises Carvana stock price target ahead of earnings
Analyst revises Carvana stock price target ahead of earnings originally appeared on TheStreet. Hey, Jon Hamm, what are you up to? The veteran actor, who memorably portrayed Don Draper in "Mad Men" and is currently starring in "Your Friends and Neighbors" was caught off guard by a jogging neighbor in a TV ad for Carvana () . 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰 The ad, entitled "Excuses", rolled out last month and is the first of two commercial spots featuring Hamm In the 30-second spot, we see the actor trying to avoid attending a birthday party for his neighbor's dog by claiming his has to sell his car. The only problem, the ad tells us, is that the online used car retailer makes the process so fast and simple that Hamm's excuse unravels, especially since his car is already sold and loaded onto a Carvana hauler just a few feet away. So now he can go to the party, right? "I just sold my car," the actor replies. "What--are we going to walk?" Carvana's shares aren't walking; they're taking off at warp speed. The Tempe, Arizona-based company's stock has climbed 68% in 2025 and shares have soared 167% from a year ago. But it wasn't always that way. Carvana's stock tumbled 99% in 2022 as the company laid off staff. Morgan Stanley pulled its rating and price target on Carvana. More Automotive: 10,000 people join Tesla class action lawsuit over key issue EVs suffer surprising rejection in a crucial market Toyota makes surprising move to beat Tesla in key market New Constructs labeled Carvana a 'zombie company' and, after a much-heralded turnaround, short-selling firm Hindenburg Research declared Carvana's rebound "a mirage." "I think most companies that take a big swing generally have multiple near death experiences," Ernest Garcia III, CEO and co-founder of Carvana, said in April during an episode of the 20VC with Harry Stebbins podcast. "There are no stories of companies that make it with no volatility." "There are no stories of companies where people just cheer the whole time and it's like a standing slow clap that never ends," he added. "That's just not how it goes." Carvana went public in 2017 and when that happens, Garcia said, "it's just cold, it's ruthless, it's just results." "You have more moves than you think," he said. "When you find yourself with your back against the wall, you can find action that you might not have found otherwise. It makes risk a little less risky because when you find yourself in that spot, if you have problem solvers around. you can usually do more than people imagine." This could involve fundraising or finding a way to make dollars go further, or looking for ways to more efficient. "The lesson that I feel like I learned is you need to take risk to do something meaningful," Garcia said, "and I think risk is less risky than most people believe it is." Famed short-seller Jim Chanos had some harsh things to say about Carvana during 2025 Forbes Iconoclast Summit last month. 'Carvana is a misunderstood story," he said. "The Street believes it is an epic turnaround, but in fact, the company is still losing money. Although it is priced as a growth stock, the business is cyclical.' He said the company's gross margins are a product of aggressive accounting that inflates both unit economics and corporate profitability while excluding many components that other auto dealers typically include.'Carvana is making all this money in finance, not selling cars,' Chanos said. 'They are a subprime lender. Carvana is scheduled to report second quarter earnings on July 30. Citizens JMP raised the firm's price target on Carvana to $440 from $275 on July 2 and kept an outperform rating on the shares after assuming coverage of the name, according to The Fly. The firm said that Carvana created a consumer experience with an net promoter score of 69 by combining proprietary software to enable transparent selection of tens of thousands of vehicles, a nationwide logistics network, and a reconditioning service that enables it to price below brick and mortar dealers. Citizens JMP said that it believes Carvana can further grow while pushing toward its medium-term EBITDA margin target of 13.5%. On June 13 JPMorgan said that Carvana shares were "due for a pause" after materially outperforming peers year-to-date. The firm reduced estimates for the second quarter, saying recent prime deal disclosures suggest a slightly larger than expected gain on sale margin compression quarter-over-quarter. JPMorgan believes the second quarter could be the first time in several quarters that Carvana's EBITDA results are likely to miss expectations. The analyst kept an overweight rating on the shares with a $325 price revises Carvana stock price target ahead of earnings first appeared on TheStreet on Jul 2, 2025 This story was originally reported by TheStreet on Jul 2, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13 hours ago
- Yahoo
RECS Adds $612M in Asset as Dow Jumps 400 Points
The Columbia Research Enhanced Core ETF (RECS) pulled in $611.8 million Tuesday, bringing its assets under management to $3.6 billion, according to data provided by FactSet. The inflows came as the Dow Jones Industrial Average climbed 400 points and the S&P 500 slipped 0.1%. The iShares Core S&P 500 ETF (IVV) led inflows despite that slip, attracting $993.8 million, while the Invesco QQQ Trust (QQQ) collected $469 million as the Nasdaq fell 0.8%. The iShares Russell 2000 ETF (IWM) pulled in $442.5 million, and the Financial Select Sector SPDR Fund (XLF) gained $353.6 million. The SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) saw outflows of just over $610 million, while the iShares 20+ Year Treasury Bond ETF (TLT) lost $538.1 million. The iShares 0-3 Month Treasury Bond ETF (SGOV) experienced outflows of $528.7 million as bond yields remained under pressure. U.S. equity ETFs gained $2.8 billion amid mixed market performance, while U.S. fixed-income ETFs lost $2.5 billion. International equity ETFs attracted $649.8 million. Overall, ETFs gained $1.2 billion for the day. Ticker Name Net Flows ($, mm) AUM ($, mm) AUM % Change IVV iShares Core S&P 500 ETF 993.76 623,802.70 0.16% RECS Columbia Research Enhanced Core ETF 611.80 3,649.64 16.76% QQQ Invesco QQQ Trust Series I 469.02 353,145.60 0.13% IWM iShares Russell 2000 ETF 442.49 63,717.89 0.69% XLF Financial Select Sector SPDR Fund 353.55 50,104.32 0.71% VTV Vanguard Value ETF 340.24 138,527.21 0.25% IEMG iShares Core MSCI Emerging Markets ETF 322.62 95,711.49 0.34% VT Vanguard Total World Stock ETF 283.52 48,651.60 0.58% AGG iShares Core U.S. Aggregate Bond ETF 247.93 129,467.35 0.19% EMCS Xtrackers MSCI Emerging Markets Climate Selection ETF 230.09 770.58 29.86% Ticker Name Net Flows ($, mm) AUM ($, mm) AUM % Change BIL SPDR Bloomberg 1-3 Month T-Bill ETF -610.02 42,237.76 -1.44% TLT iShares 20+ Year Treasury Bond ETF -538.06 48,407.35 -1.11% SGOV iShares 0-3 Month Treasury Bond ETF -528.68 49,207.07 -1.07% GLD SPDR Gold Shares -454.31 100,189.73 -0.45% SCHO Schwab Short-Term US Treasury ETF -438.84 11,029.51 -3.98% PDP Invesco Dorsey Wright Momentum ETF -408.53 1,264.70 -32.30% REET iShares Global REIT ETF -383.54 3,907.20 -9.82% IWB iShares Russell 1000 ETF -373.68 41,053.66 -0.91% LQD iShares iBoxx $ Investment Grade Corporate Bond ETF -350.58 30,248.74 -1.16% VB Vanguard Small-Cap ETF -284.50 63,305.47 -0.45% Net Flows ($, mm) AUM ($, mm) % of AUM Alternatives 150.21 10,127.58 1.48% Asset Allocation 44.53 25,054.68 0.18% Commodities ETFs -376.70 218,193.58 -0.17% Currency 185.19 151,206.45 0.12% International Equity 649.79 1,876,088.90 0.03% International Fixed Income 213.28 303,683.13 0.07% Inverse -63.79 14,120.47 -0.45% Leveraged 101.79 144,101.18 0.07% US Equity 2,819.84 7,110,093.27 0.04% US Fixed Income -2,491.57 1,704,063.77 -0.15% Total: 1,232.56 11,556,733.02 0.01% Disclaimer: All data as of 6 a.m. Eastern time the date the article is published. Data are believed to be accurate; however, transient market data are often subject to subsequent revision and correction by the | © Copyright 2025 All rights reserved Sign in to access your portfolio
Yahoo
14 hours ago
- Yahoo
The 3 areas of the stock market to buy as the dollar continues to plummet, Morgan Stanley says
The US dollar has tumbled this year, with the GOP budget bill threatening more declines. But Morgan Stanley sees the move in the dollar as a likely tailwind for the stock market. The bank sees it as a positive catalyst for companies in four sectors of the market. The dollar just wrapped up its worst half of a year since 1973, but the US currency's loss might be the stock market's gain. Morgan Stanley predicts that the dollar will continue depreciating throughout the year but it views this trend as a "substantial, under-appreciated tailwind" for stocks, one that could drive fresh earnings growth. It also laid out four sectors of the stock market the are set to benefit most from the dollar's string of declines. "The dollar is currently down approximately 11% from the January highs and is expected to fall another 7% by mid-2026 providing a substantial boost for multinational earnings," analyst Michelle Weaver said in a recent note. In Morgan Stanley's thesis, the key tailwind for stocks is companies with high exposure to foreign sales. A weaker US dollar makes currency conversions more favorable for overseas customers and makes US goods more attractive. Weaver also highlighted the translation effect, in which such companies can "earn a premium when exchanging revenues earned in foreign currencies into USD," which does not apply to competitors who only sell in the US. This creates an environment in which larger cap stocks are well-positioned to benefit. The note adds that the S&P 500, composed of the largest publicly traded US companies, typically derives roughly 40% its revenue from abroad. By contrast, the small-cap Russell 2000 sees about 22% of its revenue from overseas sales. "We have a broad preference for large-cap stocks given their higher-quality balance sheets, stronger pricing power, and stronger supplier negotiation power — the dollar dynamic further supports this view," she noted. For investors looking for specific sectors to focus on, Morgan Stanley has highlighted those with the highest foreign revenue exposure. First on the list is tech, which boasts more than 50%. The materials sector is next, with just over 40% exposure, followed by industrials, with 30%. Tech makes up the largest portion of the S&P 500, accounting for more than 30% of the benchmark index. That's likely part of why Morgan Stanley predicts it will rise even more as the dollar declines. As the bank said in a separate report this week, upward earnings revisions are the stock market's secret weapon for hitting new highs. "Morgan Stanley expects the S&P 500 to end the year at 6,500, implying a gain of about 5% from current record levels. With analysts growing more bullish on corporate earnings, the outlook points to a potentially sustainable growth trajectory." The "Big Beautiful Bill" that's moving through Congress is also expected to increase the national deficit by as much as $3.3 trillion, which could push the US dollar down even further. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
