Carvana Co (CVNA) Receives “Neutral” Rating from Susquehanna Bancshares Inc
Carvana Co (NASDAQ:CVNA)‘s stock had its “neutral” rating restated by equities researchers at Susquehanna Bancshares Inc in a note issued to investors on Friday. They presently have a $16.00 price objective on the stock, up from their prior price objective of $12.00. Susquehanna Bancshares Inc’s price target suggests a potential downside of 7.03% from the company’s current price.
Several other equities analysts also recently commented on CVNA. Robert W. Baird restated an “outperform” rating and issued a $22.00 price target (down previously from $23.00) on shares of Carvana in a research note on Thursday. Craig Hallum boosted their price target on shares of Carvana from $16.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company began coverage on shares of Carvana in a research note on Tuesday, May 23rd. They issued an “outperform” rating and a $19.00 price target for the company. Citigroup Inc. began coverage on shares of Carvana in a research note on Tuesday, May 23rd. They issued a “buy” rating and a $17.00 price target for the company. Finally, William Blair began coverage on shares of Carvana in a research note on Tuesday, May 23rd. They issued an “outperform” rating for the company. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Carvana presently has a consensus rating of “Buy” and an average price target of $21.40.
Shares of Carvana (NASDAQ:CVNA) opened at 17.21 on Friday. The stock’s market cap is $258.60 million. The firm’s 50-day moving average price is $20.26 and its 200-day moving average price is $16.09. Carvana has a 12-month low of $8.14 and a 12-month high of $23.70.
Carvana (NASDAQ:CVNA) last posted its earnings results on Tuesday, August 8th. The company reported ($0.28) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.02. The company had revenue of $209.37 million during the quarter, compared to analyst estimates of $198.84 million. The company’s revenue was up 142.0% on a year-over-year basis. On average, analysts forecast that Carvana will post ($1.13) EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the company. Nationwide Fund Advisors purchased a new stake in Carvana during the second quarter valued at about $177,000. ClariVest Asset Management LLC purchased a new stake in Carvana during the second quarter valued at about $190,000. Rhumbline Advisers purchased a new stake in Carvana during the second quarter valued at about $392,000. Schwab Charles Investment Management Inc. purchased a new stake in Carvana during the second quarter valued at about $508,000. Finally, Alliancebernstein L.P. purchased a new stake in Carvana during the second quarter valued at about $565,000.
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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