Carvana (CVNA) Coverage Initiated by Analysts at Stephens
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.
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.
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.
Featured Article: What does RSI mean?
Receive News & Ratings for Carvana Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carvana and related companies with MarketBeat.com's FREE daily email newsletter.