Carvana Co (NASDAQ:CVNA) Given New $24.00 Price Target at Craig Hallum
Carvana Co (NASDAQ:CVNA) had its price target increased by analysts at Craig Hallum from $16.00 to $24.00 in a note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s target price indicates a potential upside of 24.80% from the stock’s previous close.
CVNA has been the subject of several other reports. Wells Fargo & Company reaffirmed an “outperform” rating and set a $19.00 price objective on shares of Carvana in a research report on Tuesday, June 13th. Susquehanna Bancshares Inc assumed coverage on Carvana in a research report on Wednesday, May 3rd. They set a “neutral” rating and a $10.00 price objective for the company. Wedbush assumed coverage on Carvana in a research report on Monday, July 17th. They set a “neutral” rating and a $25.00 price objective for the company. Deutsche Bank AG reissued a “buy” rating and set a $22.00 price target on shares of Carvana in a research report on Tuesday, May 23rd. Finally, Robert W. Baird increased their price target on Carvana from $15.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, June 21st. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $20.90.
Shares of Carvana (CVNA) traded down 12.5871% during midday trading on Wednesday, reaching $16.8095. The company’s stock had a trading volume of 577,332 shares. The stock has a 50-day moving average of $20.38 and a 200 day moving average of $15.96. The company’s market cap is $252.70 million. Carvana has a 12 month low of $8.14 and a 12 month high of $23.70.
Carvana (NASDAQ:CVNA) last posted its quarterly earnings data on Tuesday, August 8th. The company reported ($0.28) earnings per share for the quarter, topping the 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 firm’s quarterly revenue was up 142.0% compared to the same quarter last year. On average, analysts predict that Carvana will post ($1.13) earnings per share for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. acquired a new stake in Carvana during the second quarter valued at about $14,998,000. Bank of New York Mellon Corp acquired a new stake in Carvana during the second quarter valued at about $10,604,000. Blair William & Co. IL acquired a new stake in Carvana during the second quarter valued at about $8,002,000. Penserra Capital Management LLC acquired a new stake in Carvana during the second quarter valued at about $4,278,000. Finally, Spark Investment Management LLC acquired a new stake in Carvana during the second quarter valued at about $2,274,000.
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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