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Jul 6 2022, 07:00 IST/BST
Disruptive technology
Online auto players: earnings downgrades
- Companies : HelloFresh SE | Naked Wines plc | musicMagpie plc | Deliveroo plc | DoorDash Inc | Just Eat Takeaway.com | Auto Trader Group plc | Carvana Co | Cazoo Group | Purplebricks Group plc | On the Beach Group plc | AO World plc | Delivery Hero | ASOS plc | Rightmove plc | boohoo group plc | Itsarm plc | Moonpig Group plc | Auto1 Group SE
DAVY VIEW
H121 growth comparables remain tough, and investor appetite for longer duration assets has waned. Inflation, higher interest rates and falling consumer sentiment pose multiple threats to operational execution. Auto1 Group (AG1) and Auto Trader Group (AUTO) continue to execute well; US-listed Carvana Co (CVNA) and Cazoo (CZOO) less so. Earnings estimates come down for AG1, CVNA and CZOO, AUTO the outlier, with price targets cut for all.
