Stephens initiated coverage on shares of Carvana (NYSE:CVNA) in a research report sent to investors on Tuesday, Marketbeat.com reports. The firm issued an equal weight rating on the stock.
Several other equities analysts have also commented on the stock. Zacks Investment Research upgraded shares of Carvana from a sell rating to a hold rating in a research report on Tuesday, July 31st. Robert W. Baird upped their price target on shares of Carvana from $33.00 to $53.00 and gave the stock an outperform rating in a research report on Monday, July 9th. Wells Fargo & Co restated a buy rating and set a $44.00 price target on shares of Carvana in a research report on Sunday, June 24th. Citigroup upped their price target on shares of Carvana from $60.00 to $67.00 and gave the stock an average rating in a research report on Thursday, August 9th. Finally, Bank of America upped their price target on shares of Carvana from $35.00 to $45.00 and gave the stock a positive rating in a research report on Wednesday, June 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $46.42.
CVNA stock opened at $58.96 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.47 and a quick ratio of 0.78. Carvana has a 1-year low of $12.17 and a 1-year high of $67.98. The firm has a market cap of $8.71 billion, a price-to-earnings ratio of -48.73 and a beta of -1.25.
Carvana (NYSE:CVNA) last released its earnings results on Wednesday, August 8th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.03). Carvana had a negative net margin of 5.30% and a negative return on equity of 33.44%. The business had revenue of $475.29 million for the quarter, compared to the consensus estimate of $425.16 million. During the same quarter in the previous year, the firm earned ($0.28) EPS. The firm’s revenue for the quarter was up 127.0% on a year-over-year basis. equities research analysts predict that Carvana will post -1.47 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of CVNA. First Mercantile Trust Co. acquired a new stake in Carvana in the 2nd quarter valued at about $122,000. Global X Management Co LLC acquired a new stake in Carvana during the 2nd quarter worth about $124,000. Legal & General Group Plc raised its holdings in Carvana by 61.1% during the 2nd quarter. Legal & General Group Plc now owns 4,251 shares of the company’s stock worth $177,000 after buying an additional 1,612 shares during the period. United Services Automobile Association acquired a new stake in Carvana during the 2nd quarter worth about $206,000. Finally, Wsfs Capital Management LLC acquired a new stake in Carvana during the 2nd quarter worth about $208,000. 25.98% of the stock is owned by institutional investors and hedge funds.
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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