Wedbush reaffirmed their neutral rating on shares of Carvana Co (NASDAQ:CVNA) in a research note published on Friday morning. Wedbush currently has a $18.14 price objective on the stock, down from their previous price objective of $20.00.
Other research analysts have also issued research reports about the company. Craig Hallum initiated coverage on Carvana in a report on Monday, May 22nd. They set a buy rating and a $16.00 price objective on the stock. Robert W. Baird initiated coverage on Carvana in a report on Tuesday, May 23rd. They set an outperform rating and a $15.00 price objective on the stock. Wells Fargo & Company initiated coverage on Carvana in a report on Tuesday, May 23rd. They set an outperform rating and a $19.00 price objective on the stock. Deutsche Bank AG reaffirmed a buy rating and set a $22.00 price objective on shares of Carvana in a report on Tuesday, May 23rd. Finally, BMO Capital Markets initiated coverage on Carvana in a report on Tuesday, May 23rd. They set an outperform rating and a $15.00 price objective on the stock. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $20.91.
Shares of Carvana (NASDAQ CVNA) traded down 2.65% during midday trading on Friday, hitting $17.66. 643,183 shares of the stock were exchanged. Carvana has a one year low of $8.14 and a one year high of $23.70. The firm has a 50 day moving average of $17.16 and a 200-day moving average of $16.21. The company’s market cap is $274.05 million.
Carvana (NASDAQ:CVNA) last released its earnings results on Tuesday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.02. The company had revenue of $209.37 million during the quarter, compared to analyst estimates of $198.84 million. Carvana’s quarterly revenue was up 142.0% compared to the same quarter last year. Equities analysts expect that Carvana will post ($1.13) EPS for the current year.
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A number of institutional investors have recently bought and sold shares of CVNA. Abrams Bison Investments LLC acquired a new stake in Carvana in the second quarter valued at $51,175,000. FMR LLC acquired a new stake in Carvana in the second quarter valued at $26,992,000. Royal Bank of Canada acquired a new stake in Carvana in the second quarter valued at $15,354,000. Principal Financial Group Inc. acquired a new stake in Carvana in the second quarter valued at $14,998,000. Finally, Goodnow Investment Group LLC acquired a new stake in Carvana in the second quarter valued at $11,706,000.
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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