Carvana Co (CVNA) Given Consensus Recommendation of “Buy” by Analysts
Shares of Carvana Co (NASDAQ:CVNA) have been given an average rating of “Buy” by the eleven brokerages that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $20.10.
Several equities analysts have weighed in on the company. BMO Capital Markets restated an “outperform” rating and set a $25.00 price target (up previously from $15.00) on shares of Carvana in a report on Monday, June 26th. Wedbush began coverage on Carvana in a report on Monday, July 17th. They issued a “neutral” rating and a $25.00 target price for the company. Wells Fargo & Company reiterated an “outperform” rating and issued a $23.00 target price (up previously from $19.00) on shares of Carvana in a report on Monday, June 19th. Robert W. Baird lifted their target price on Carvana from $15.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, June 21st. Finally, Craig Hallum began coverage on Carvana in a report on Monday, May 22nd. They issued a “buy” rating and a $16.00 target price for the company.
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Several institutional investors have recently made changes to their positions in CVNA. ClariVest Asset Management LLC bought a new position in shares of Carvana during the second quarter worth approximately $190,000. Rhumbline Advisers bought a new position in shares of Carvana during the second quarter worth approximately $392,000. Schwab Charles Investment Management Inc. bought a new position in shares of Carvana during the second quarter worth approximately $508,000. Spark Investment Management LLC bought a new position in shares of Carvana during the second quarter worth approximately $2,274,000. Finally, Penserra Capital Management LLC bought a new position in shares of Carvana during the second quarter worth approximately $4,278,000.
Shares of Carvana (NASDAQ CVNA) opened at 18.57 on Tuesday. The stock’s market cap is $279.16 million. The firm has a 50-day moving average price of $20.23 and a 200 day moving average price of $15.86. Carvana has a 52 week low of $8.14 and a 52 week high of $23.70.
Carvana (NASDAQ:CVNA) last released its quarterly earnings results on Tuesday, June 6th. The company reported ($0.28) earnings per share for the quarter, meeting the consensus estimate of ($0.28). The firm had revenue of $159.07 million for the quarter, compared to analysts’ expectations of $157.69 million. The business’s revenue was up 118.1% on a year-over-year basis. On average, analysts forecast that Carvana will post ($1.13) EPS for the current fiscal year.
Carvana Company Profile
Carvana Co is an e-commerce platform for buying used cars. On the Company’s platform, consumers can research and identify a vehicle, inspect it using its proprietary 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle and schedule delivery or pick-up, all from their desktop or mobile devices.
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