Carvana (NYSE:CVNA) had its target price boosted by equities research analysts at Robert W. Baird from $17.00 to $23.00 in a research report issued on Tuesday. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 11.92% from the company’s previous close.
A number of other research firms also recently issued reports on CVNA. Zacks Investment Research raised Carvana from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Monday, October 16th. Barrington Research started coverage on Carvana in a report on Friday, October 27th. They issued a “market perform” rating for the company. Craig Hallum raised their price target on Carvana from $16.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. Wedbush reaffirmed a “neutral” rating and issued a $18.14 price target (down from $20.00) on shares of Carvana in a report on Friday, September 15th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $23.00 price target on shares of Carvana in a report on Sunday, August 20th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $19.77.
Shares of Carvana (NYSE:CVNA) opened at $20.55 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 1.50 and a debt-to-equity ratio of 0.07. Carvana has a 52-week low of $8.14 and a 52-week high of $23.70.
Carvana (NYSE:CVNA) last released its earnings results on Tuesday, November 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.01. Carvana had a negative return on equity of 153.67% and a negative net margin of 11.81%. The business had revenue of $225.40 million during the quarter, compared to the consensus estimate of $243.61 million. sell-side analysts anticipate that Carvana will post -1.19 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada bought a new stake in Carvana during the second quarter valued at $15,354,000. Schwab Charles Investment Management Inc. bought a new stake in Carvana during the second quarter valued at $508,000. Principal Financial Group Inc. bought a new stake in Carvana during the second quarter valued at $14,998,000. B. Riley Financial Inc. bought a new stake in Carvana during the second quarter valued at $1,100,000. Finally, FMR LLC bought a new stake in Carvana during the second quarter valued at $26,992,000. 15.20% of the stock is owned by hedge funds and other institutional investors.
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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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