BUZZ - Carvana shares rise as third-quarter revenue beats expectations

October 29 - ** The stock price of online used car retailer Carvana (CVNA.N) rose 8.7% in pre-market trading to $64.24

** The company's third-quarter (link) revenue reached $804 million, exceeding analysts' expectations of $770 million

** The company stated that the doubling of its customer base and improvements in unit economics drove the growth in performance

** BTIG commented that these results "validate the bull thesis: CVNA can deliver value to consumers and expand market share while maintaining industry-leading unit economics"

** Of 26 analysts, 16 have assigned a “Buy” or higher rating, 9 have a “Hold” rating, and 1 has a “Sell” rating; the median target price is $82.50—data compiled by LSEG

** As of the close of the previous trading day, the stock has declined 30% so far this year

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