Carvana Co (NASDAQ:CVNA)‘s stock had its “outperform” rating reiterated by Consumer Edge in a report released on Monday. They currently have a $23.00 price target on the stock. Consumer Edge’s target price suggests a potential upside of 56.68% from the company’s current price.

CVNA has been the topic of a number of other reports. Craig Hallum upped their target price on shares of Carvana from $16.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. BMO Capital Markets reiterated an “outperform” rating and set a $25.00 price target (up previously from $15.00) on shares of Carvana in a report on Monday, June 26th. Robert W. Baird restated an “outperform” rating and issued a $15.00 price objective on shares of Carvana in a research note on Friday, June 9th. Wedbush restated a “neutral” rating and issued a $18.14 price objective (down previously from $20.00) on shares of Carvana in a research note on Friday, September 15th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of Carvana in a research report on Sunday, August 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. Carvana currently has an average rating of “Buy” and an average target price of $20.35.

Shares of Carvana (NASDAQ CVNA) traded up 7.70% during mid-day trading on Monday, hitting $15.81. The company had a trading volume of 600,780 shares. The firm’s 50-day moving average price is $16.96 and its 200 day moving average price is $16.22. Carvana has a one year low of $8.14 and a one year high of $23.70. The company’s market capitalization is $245.34 million.

Carvana (NASDAQ:CVNA) last issued its earnings results on Tuesday, August 8th. The company reported ($0.28) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.02. The firm had revenue of $209.37 million for the quarter, compared to analyst estimates of $198.84 million. The business’s revenue for the quarter was up 142.0% compared to the same quarter last year. Analysts predict that Carvana will post ($1.13) earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nationwide Fund Advisors acquired a new stake in Carvana during the second quarter worth approximately $177,000. ClariVest Asset Management LLC bought a new stake in shares of Carvana during the 2nd quarter valued at $190,000. Nordea Investment Management AB bought a new stake in shares of Carvana during the 2nd quarter valued at $190,000. Cubist Systematic Strategies LLC bought a new stake in shares of Carvana during the 2nd quarter valued at $258,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Carvana during the 2nd quarter valued at $264,000.

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.

Analyst Recommendations for Carvana (NASDAQ:CVNA)

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