Carvana Co (CVNA) Now Covered by Analysts at B. Riley
Investment analysts at B. Riley initiated coverage on shares of Carvana Co (NASDAQ:CVNA) in a report issued on Friday, The Fly reports. The brokerage set a “sell” rating on the stock.
Other analysts also recently issued research reports about the stock. Craig Hallum raised their price target on shares of Carvana from $16.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. Wedbush started coverage on shares of Carvana in a report on Tuesday, July 18th. They set a “fair value” rating and a $23.02 price target for the company. Susquehanna Bancshares Inc restated a “neutral” rating and set a $16.00 price target (up previously from $12.00) on shares of Carvana in a report on Friday, August 11th. Robert W. Baird restated an “outperform” rating and set a $22.00 price target on shares of Carvana in a report on Thursday, September 7th. Finally, Wells Fargo & Company restated an “outperform” rating and set a $23.00 price target on shares of Carvana in a report on Sunday, August 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $20.91.
Carvana (CVNA) opened at 16.81 on Friday. Carvana has a 1-year low of $8.14 and a 1-year high of $23.70. The stock’s 50 day moving average price is $16.96 and its 200-day moving average price is $16.22. The company’s market cap is $260.86 million.
Carvana (NASDAQ:CVNA) last announced its quarterly earnings results on Tuesday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.02. The firm had revenue of $209.37 million for the quarter, compared to analyst estimates of $198.84 million. The business’s quarterly revenue was up 142.0% on a year-over-year basis. On average, analysts forecast that Carvana will post ($1.13) earnings per share for the current year.
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A number of institutional investors have recently bought and sold shares of the stock. Abrams Bison Investments LLC acquired a new stake in Carvana in the 2nd quarter valued at approximately $51,175,000. FMR LLC acquired a new stake in Carvana in the 2nd quarter valued at approximately $26,992,000. Royal Bank of Canada acquired a new stake in Carvana in the 2nd quarter valued at approximately $15,354,000. Principal Financial Group Inc. acquired a new stake in Carvana in the 2nd quarter valued at approximately $14,998,000. Finally, Goodnow Investment Group LLC acquired a new stake in Carvana in the 2nd quarter valued at approximately $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.
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