Carvana’s (CVNA) “Neutral” Rating Reiterated at Wedbush
Carvana Co (NASDAQ:CVNA)‘s stock had its “neutral” rating reiterated by research analysts at Wedbush in a research note issued to investors on Friday. They currently have a $18.14 price objective on the stock, down from their prior price objective of $20.00. Wedbush’s price objective points to a potential upside of 2.72% from the company’s previous close.
CVNA has been the subject of a number of other research reports. Susquehanna Bancshares Inc restated a “neutral” rating and set a $16.00 target price (up previously from $12.00) on shares of Carvana in a research report on Friday, August 11th. Robert W. Baird reiterated an “outperform” rating and set a $22.00 price objective on shares of Carvana in a research report on Thursday, September 7th. Wells Fargo & Company reiterated an “outperform” rating and set a $19.00 price objective on shares of Carvana in a research report on Tuesday, June 13th. Deutsche Bank AG reiterated a “buy” rating and set a $22.00 price objective on shares of Carvana in a research report on Tuesday, May 23rd. Finally, Bank of America Corporation began coverage on shares of Carvana in a research report on Tuesday, May 23rd. They set a “buy” rating and a $25.00 price objective for the company. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $20.91.
Carvana (CVNA) traded down 2.65% during mid-day trading on Friday, hitting $17.66. 643,183 shares of the stock traded hands. The company’s 50 day moving average is $17.26 and its 200 day moving average is $16.20. The company’s market cap is $274.05 million. Carvana has a 12 month low of $8.14 and a 12 month high of $23.70.
Carvana (NASDAQ:CVNA) last issued its earnings results on Tuesday, August 8th. The company reported ($0.28) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.02. The company had revenue of $209.37 million for the quarter, compared to the consensus estimate of $198.84 million. The business’s revenue for the quarter was up 142.0% compared to the same quarter last year. On average, analysts expect that Carvana will post ($1.13) earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in CVNA. Abrams Bison Investments LLC bought a new position in Carvana during the second quarter valued at $51,175,000. FMR LLC bought a new position in Carvana during the second quarter valued at $26,992,000. Royal Bank of Canada bought a new position in Carvana during the second quarter valued at $15,354,000. Principal Financial Group Inc. bought a new position in Carvana during the second quarter valued at $14,998,000. Finally, Goodnow Investment Group LLC bought a new position in Carvana during the second quarter valued at $11,706,000.
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.
Receive News & Ratings for Carvana Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carvana Co and related companies with MarketBeat.com's FREE daily email newsletter.