Stephens started coverage on shares of Carvana (NYSE:CVNA) in a research report report published on Tuesday, The Fly reports. The brokerage issued an equal weight rating on the stock.

A number of other analysts have also recently weighed in on CVNA. B. Riley raised shares of Carvana from a sell rating to a buy rating and upped their target price for the company from $20.00 to $38.00 in a research note on Thursday, May 10th. Bank of America upped their price objective on shares of Carvana from $35.00 to $45.00 and gave the stock a positive rating in a research note on Wednesday, June 27th. Barrington Research reaffirmed a buy rating on shares of Carvana in a research note on Tuesday, May 15th. Deutsche Bank raised shares of Carvana from a hold rating to a buy rating in a research note on Thursday, May 10th. Finally, Wells Fargo & Co reaffirmed a buy rating and set a $44.00 price objective on shares of Carvana in a research note on Sunday, June 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. Carvana presently has a consensus rating of Buy and a consensus price target of $46.42.

NYSE CVNA opened at $67.34 on Tuesday. The stock has a market capitalization of $9.07 billion, a P/E ratio of -55.65 and a beta of -1.37. Carvana has a twelve month low of $12.17 and a twelve month high of $67.54. The company has a current ratio of 1.47, a quick ratio of 0.78 and a debt-to-equity ratio of 0.29.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, August 8th. The company reported ($0.37) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.03). The business had revenue of $475.29 million during the quarter, compared to the consensus estimate of $425.16 million. Carvana had a negative net margin of 5.30% and a negative return on equity of 33.44%. The business’s revenue was up 127.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.28) EPS. research analysts anticipate that Carvana will post -1.47 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of CVNA. MetLife Investment Advisors LLC bought a new stake in Carvana during the fourth quarter worth about $133,000. Penserra Capital Management LLC grew its stake in shares of Carvana by 48.8% during the first quarter. Penserra Capital Management LLC now owns 558,924 shares of the company’s stock valued at $12,816,000 after purchasing an additional 183,311 shares during the last quarter. BlackRock Inc. grew its stake in shares of Carvana by 1.2% during the first quarter. BlackRock Inc. now owns 956,715 shares of the company’s stock valued at $21,938,000 after purchasing an additional 11,496 shares during the last quarter. Chicago Capital LLC bought a new stake in shares of Carvana during the first quarter valued at approximately $14,134,000. Finally, Spark Investment Management LLC bought a new stake in shares of Carvana during the first quarter valued at approximately $481,000. 25.98% of the stock is currently owned by hedge funds and other institutional investors.

About Carvana

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying used cars in the United States. The company purchases, reconditions, sells, and delivers vehicles. Its platform allows customers to research and identify a vehicle; inspect it using company's proprietary 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up.

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Analyst Recommendations for Carvana (NYSE:CVNA)

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