Shares of Carvana Co (NASDAQ:CVNA) have received a consensus recommendation of “Buy” from the eleven research firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $21.40.
Several analysts have commented on CVNA shares. Craig Hallum raised their price objective on Carvana from $16.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup Inc. started coverage on Carvana in a report on Tuesday, May 23rd. They issued a “buy” rating and a $17.00 price objective on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $25.00 price objective (up from $15.00) on shares of Carvana in a report on Monday, June 26th. Robert W. Baird reissued an “outperform” rating and issued a $15.00 price objective on shares of Carvana in a report on Friday, June 9th. Finally, William Blair started coverage on Carvana in a research note on Tuesday, May 23rd. They issued an “outperform” rating on the stock.
Carvana (NASDAQ:CVNA) opened at 16.33 on Friday. The company’s market cap is $253.41 million. Carvana has a 52-week low of $8.14 and a 52-week high of $23.70. The company’s 50-day moving average is $20.12 and its 200 day moving average is $16.09.
Carvana (NASDAQ:CVNA) last posted its earnings results on Tuesday, August 8th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.02. The company had revenue of $209.37 million for the quarter, compared to analyst estimates of $198.84 million. The firm’s revenue for the quarter was up 142.0% compared to the same quarter last year. Equities analysts forecast that Carvana will post ($1.13) earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of CVNA. B. Riley Financial Inc. acquired a new stake in Carvana during the second quarter worth approximately $1,100,000. Virtu KCG Holdings LLC acquired a new stake in Carvana during the second quarter worth approximately $528,000. Nordea Investment Management AB acquired a new stake in Carvana during the second quarter worth approximately $190,000. Formula Growth Ltd. acquired a new stake in Carvana during the second quarter worth approximately $409,000. Finally, FMR LLC acquired a new stake in Carvana during the second quarter worth approximately $26,992,000.
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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