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Carvana climbs as Q3 revenue beats expectations

By Reuters News19 hours ago Updated

** Shares of online used-car retailer Carvana CVNA.N up 15% at $67.9

** Co is the top gainer on the benchmark S&P 500 .SPX

** Co's Q3 revenue of $8.04 bln beats analyst est. of $7.70 bln

** Co said doubling its customer base and improved unit economics contributed to results

** Two brokerages, including Deutsche Bank and UBS, raised target price on CVNA

** BTIG says results "validate the bull thesis that CVNA can pass on value to consumers to grow market share while maintaining industry-leading unit economics"

** 16 out of 26 analysts rate stock "buy" or higher, nine rate it "hold", one "sell"; median PT at $83 - data compiled by LSEG

** Including session moves, stock down 19.6% YTD

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