Carvana Co (NASDAQ:CVNA)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wells Fargo & Company in a note issued to investors on Sunday. They currently have a $23.00 price objective on the stock. Wells Fargo & Company’s price target indicates a potential upside of 61.86% from the company’s current price.

CVNA has been the topic of a number of other reports. Susquehanna Bancshares Inc initiated coverage on shares of Carvana in a research report on Wednesday, May 3rd. They set a “neutral” rating and a $10.00 price target on the stock. BMO Capital Markets reissued an “outperform” rating and set a $25.00 price target (up from $15.00) on shares of Carvana in a research report on Monday, June 26th. JMP Securities initiated coverage on shares of Carvana in a research report on Tuesday, May 23rd. They set an “outperform” rating and a $17.00 price target on the stock. Wedbush initiated coverage on shares of Carvana in a research report on Tuesday, July 18th. They set a “fair value” rating and a $23.02 price target on the stock. Finally, Deutsche Bank AG reissued a “buy” rating and set a $22.00 price target on shares of Carvana in a research report on Tuesday, May 23rd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $21.40.

Carvana (NASDAQ CVNA) traded down 6.39% during mid-day trading on Friday, reaching $14.21. 1,895,060 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $19.16 and a 200-day moving average of $16.02. Carvana has a 12 month low of $8.14 and a 12 month high of $23.70. The firm’s market cap is $220.51 million.

Carvana (NASDAQ:CVNA) last released its quarterly earnings results on Tuesday, August 8th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.02. The firm had revenue of $209.37 million for the quarter, compared to the consensus estimate of $198.84 million. Carvana’s quarterly revenue was up 142.0% compared to the same quarter last year. Analysts anticipate that Carvana will post ($1.13) earnings per share for the current year.

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A number of hedge funds have recently made changes to their positions in the company. Abrams Bison Investments LLC bought a new stake in shares of Carvana during the second quarter valued at approximately $51,175,000. FMR LLC bought a new stake in shares of Carvana during the second quarter valued at approximately $26,992,000. Royal Bank of Canada bought a new stake in shares of Carvana during the second quarter valued at approximately $15,354,000. Principal Financial Group Inc. bought a new stake in shares of Carvana during the second quarter valued at approximately $14,998,000. Finally, Goodnow Investment Group LLC bought a new stake in shares of Carvana during the second quarter valued at approximately $11,706,000.

About Carvana

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.

Analyst Recommendations for Carvana (NASDAQ:CVNA)

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