Carvana Co (CVNA) Stock Rating Reaffirmed by Wedbush
Carvana Co (NASDAQ:CVNA)‘s stock had its “neutral” rating reissued by investment analysts at Wedbush in a research note issued on Monday. They presently have a $25.00 price objective on the stock. Wedbush’s price objective indicates a potential upside of 14.68% from the stock’s current price.
CVNA has been the topic of a number of other reports. Susquehanna Bancshares Inc started coverage on Carvana in a research note on Wednesday, May 3rd. They set a “neutral” rating and a $10.00 price objective on the stock. JMP Securities started coverage on Carvana in a research note on Tuesday, May 23rd. They set an “outperform” rating and a $17.00 price objective on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $25.00 price objective (up from $15.00) on shares of Carvana in a research note on Monday, June 26th. Deutsche Bank AG reiterated a “buy” rating and set a $22.00 price objective on shares of Carvana in a research note on Tuesday, May 23rd. Finally, Citigroup Inc. started coverage on Carvana in a research note on Tuesday, May 23rd. They set a “buy” rating and a $17.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $20.30.
Shares of Carvana (CVNA) traded down 4.93% on Monday, hitting $21.80. The company had a trading volume of 394,917 shares. The company has a 50 day moving average price of $14.32 and a 200 day moving average price of $13.52. Carvana has a 1-year low of $8.14 and a 1-year high of $23.70. The firm’s market capitalization is $327.72 million.
Carvana (NASDAQ:CVNA) last released its quarterly earnings data on Tuesday, June 6th. The company reported ($0.28) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.28). The company had revenue of $159.07 million for the quarter, compared to the consensus estimate of $157.69 million. The company’s revenue for the quarter was up 118.1% on a year-over-year basis. On average, equities analysts forecast that Carvana will post ($1.13) earnings per share for the current fiscal year.
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In other Carvana news, insider Ryan S. Keeton bought 6,000 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The shares were acquired at an average cost of $9.25 per share, for a total transaction of $55,500.00. Following the purchase, the insider now directly owns 3,000 shares of the company’s stock, valued at $27,750. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Ernest C. Garcia II bought 1,500,000 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The stock was acquired at an average price of $13.73 per share, for a total transaction of $20,595,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 1,856,031 shares of company stock worth $24,474,213.
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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