Carvana Co (CVNA) Earns Market Perform Rating from Analysts at Barrington Research

Barrington Research began coverage on shares of Carvana Co (NASDAQ:CVNA) in a research report sent to investors on Friday, MarketBeat Ratings reports. The brokerage issued a market perform rating on the stock.

Other research analysts also recently issued research reports about the stock. Wedbush began coverage on shares of Carvana in a report on Monday, July 17th. They issued a neutral rating and a $25.00 target price for the company. B. Riley started coverage on shares of Carvana in a research note on Friday, September 22nd. They issued a sell rating and a $12.00 price target on the stock. Zacks Investment Research upgraded shares of Carvana from a hold rating to a buy rating and set a $16.00 price target on the stock in a research note on Monday, October 16th. Robert W. Baird reiterated an outperform rating and issued a $22.00 price target on shares of Carvana in a research note on Thursday, September 7th. Finally, Wells Fargo & Company restated an outperform rating and set a $23.00 target price on shares of Carvana in a research report on Sunday, August 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $20.01.

Carvana (CVNA) traded down 2.04% during trading on Friday, hitting $12.50. The stock had a trading volume of 190,899 shares. The stock’s 50-day moving average price is $15.35 and its 200-day moving average price is $15.88. Carvana has a 1-year low of $8.14 and a 1-year high of $23.70. The company’s market capitalization is $193.98 million.

Carvana (NASDAQ:CVNA) last posted its earnings results on Tuesday, August 8th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.02. The company had revenue of $209.37 million during the quarter, compared to the consensus estimate of $198.84 million. The firm’s revenue was up 142.0% on a year-over-year basis. Analysts expect that Carvana will post ($1.14) earnings per share for the current year.

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A number of large investors have recently bought and sold shares of the stock. Nationwide Fund Advisors purchased a new position in shares of Carvana in the second quarter worth $177,000. ClariVest Asset Management LLC purchased a new position in shares of Carvana in the second quarter worth $190,000. Nordea Investment Management AB purchased a new position in shares of Carvana in the second quarter worth $190,000. Cubist Systematic Strategies LLC purchased a new position in shares of Carvana in the second quarter worth $258,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Carvana in the second quarter worth $264,000.

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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