Robert W. Baird Increases Carvana (CVNA) Price Target to $23.00

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.

COPYRIGHT VIOLATION NOTICE: “Robert W. Baird Increases Carvana (CVNA) Price Target to $23.00” was first reported by Stock Observer and is the sole property of of Stock Observer. If you are reading this story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright law. The original version of this story can be read at https://www.thestockobserver.com/2017/12/07/robert-w-baird-increases-carvana-cvna-price-target-to-23-00.html.

About Carvana

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.

Analyst Recommendations for Carvana (NYSE:CVNA)

Receive News & Ratings for Carvana Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carvana Co. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply