BMO Capital Markets Trims Carvana Co (CVNA) Target Price to $19.00
Several other research firms have also issued reports on CVNA. Wedbush began coverage on shares of Carvana in a research note on Tuesday, July 18th. They issued a fair value rating and a $23.02 price objective for the company. Craig Hallum boosted their target price on shares of Carvana from $16.00 to $24.00 and gave the stock a buy rating in a research report on Wednesday, August 9th. Robert W. Baird reissued an outperform rating and set a $22.00 target price on shares of Carvana in a research report on Thursday, September 7th. Susquehanna Bancshares Inc reissued a neutral rating and set a $16.00 target price (up previously from $12.00) on shares of Carvana in a research report on Friday, August 11th. Finally, B. Riley began coverage on shares of Carvana in a research report on Friday, September 22nd. They set a sell rating and a $12.00 target price for the company. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Carvana has an average rating of Buy and an average price target of $19.31.
Carvana (CVNA) traded up $0.33 during mid-day trading on Wednesday, hitting $14.19. 289,675 shares of the company traded hands, compared to its average volume of 520,965. Carvana has a 1-year low of $8.14 and a 1-year high of $23.70.
Carvana (NASDAQ:CVNA) last released its quarterly earnings data on Tuesday, November 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.01. The business had revenue of $225.40 million during the quarter, compared to analyst estimates of $243.61 million.
Several institutional investors and hedge funds have recently made changes to their positions in CVNA. Spark Investment Management LLC acquired a new position in shares of Carvana during the second quarter valued at about $2,274,000. Schwab Charles Investment Management Inc. acquired a new position in shares of Carvana during the second quarter valued at about $508,000. Rhumbline Advisers acquired a new position in shares of Carvana during the second quarter valued at about $392,000. ClariVest Asset Management LLC acquired a new position in shares of Carvana during the second quarter valued at about $190,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Carvana during the second quarter valued at about $10,604,000.
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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