Robert W. Baird Reaffirms Outperform Rating for Carvana Co (CVNA)
Carvana Co (NASDAQ:CVNA)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Robert W. Baird in a research note issued on Thursday. They presently have a $22.00 target price on the stock. Robert W. Baird’s price objective would suggest a potential upside of 17.33% from the company’s current price.
A number of other research firms have also weighed in on CVNA. BMO Capital Markets restated 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. Wedbush assumed coverage on shares of Carvana in a research report on Monday, July 17th. They set a “neutral” rating and a $25.00 price target on the stock. Wells Fargo & Company restated an “outperform” rating and set a $23.00 price target (up from $19.00) on shares of Carvana in a research report on Monday, June 19th. Craig Hallum boosted their price target on shares of Carvana from $16.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Finally, Susquehanna Bancshares Inc restated a “neutral” rating and set a $16.00 price target (up from $12.00) on shares of Carvana in a research report on Friday, August 11th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $21.40.
Shares of Carvana (NASDAQ:CVNA) traded up 4.92% during mid-day trading on Thursday, hitting $18.75. 571,883 shares of the stock traded hands. The company’s market cap is $290.96 million. The firm has a 50 day moving average of $17.79 and a 200 day moving average of $16.05. Carvana has a 12 month low of $8.14 and a 12 month high of $23.70.
Carvana (NASDAQ:CVNA) last posted its quarterly earnings results on Tuesday, August 8th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.02. The business had revenue of $209.37 million for the quarter, compared to analyst estimates of $198.84 million. The business’s revenue was up 142.0% compared to the same quarter last year. Equities analysts anticipate that Carvana will post ($1.13) EPS for the current fiscal year.
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Hedge funds have recently modified their holdings of the business. Penserra Capital Management LLC purchased a new position in Carvana during the second quarter worth about $4,278,000. ClariVest Asset Management LLC purchased a new position in Carvana during the second quarter worth about $190,000. Spark Investment Management LLC purchased a new position in Carvana during the second quarter worth about $2,274,000. Blair William & Co. IL purchased a new position in Carvana during the second quarter worth about $8,002,000. Finally, Nationwide Fund Advisors purchased a new position in Carvana during the second quarter worth about $177,000.
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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