Carvana Co (CVNA) Now Covered by Analysts at Citigroup Inc.
Analysts at Citigroup Inc. started coverage on shares of Carvana Co (NASDAQ:CVNA) in a report released on Tuesday, May 23rd, Marketbeat.com reports. The brokerage set a “buy” rating and a $17.00 price target on the stock. Citigroup Inc.’s target price suggests a potential downside of 11.96% from the company’s previous close.
CVNA has been the topic of several other research reports. Susquehanna Bancshares Inc started coverage on Carvana in a report on Wednesday, May 3rd. They issued a “neutral” rating and a $10.00 target price on the stock. Deutsche Bank AG reissued a “buy” rating and issued a $22.00 target price on shares of Carvana in a report on Tuesday, May 23rd. Robert W. Baird began coverage on Carvana in a report on Tuesday, May 23rd. They issued an “outperform” rating and a $15.00 target price on the stock. BMO Capital Markets began coverage on Carvana in a report on Tuesday, May 23rd. They set an “outperform” rating and a $15.00 price objective on the stock. Finally, Wells Fargo & Company began coverage on Carvana in a report on Tuesday, May 23rd. They set an “outperform” rating and a $19.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Carvana currently has an average rating of “Buy” and a consensus target price of $17.33.
Carvana (NASDAQ CVNA) traded up 9.22% during midday trading on Tuesday, reaching $19.31. The company’s stock had a trading volume of 2,568,656 shares. The firm has a 50 day moving average price of $11.65 and a 200-day moving average price of $11.65. Carvana has a 12-month low of $8.14 and a 12-month high of $19.80. The company’s market cap is $290.29 million.
Carvana (NASDAQ:CVNA) last posted its earnings results on Tuesday, June 6th. The company reported ($0.28) EPS for the quarter, meeting the consensus estimate of ($0.28). The business had revenue of $159.07 million during the quarter, compared to analysts’ expectations of $157.69 million. Carvana’s revenue was up 118.1% compared to the same quarter last year. On average, equities research analysts predict that Carvana will post ($1.14) earnings per share for the current fiscal year.
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In other Carvana news, CEO Ernest C. Garcia III bought 183,333 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The stock was acquired at an average price of $13.35 per share, for a total transaction of $2,447,495.55. Following the completion of the purchase, the chief executive officer now owns 133,333 shares of the company’s stock, valued at $1,779,995.55. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Ernest C. Garcia II bought 1,500,000 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The shares were acquired at an average price of $13.73 per share, with a total value of $20,595,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 1,856,031 shares of company stock worth $24,474,213.
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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