The price of Carvana Co. (NYSE:CVNA) shares last traded on Wall Street rose 10.12% to $45.37.
Based on available information, 23 analysts follow Carvana Co. (NYSE:CVNA). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $63.00 and a low of $15.00, we find $44.00. Given the previous closing price of $41.20, this indicates a potential upside of 6.8 percent. CVNA stock price is now 22.51% away from the 50-day moving average and 181.88% away from the 200-day moving average. The market capitalization of the company currently stands at $7.88B.
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Among analysts, 15 rate the stock a hold while 2 rate it a buy. Brokers who have rated the stock have averaged $42.88 as their price target over the next twelve months.
With the price target reduced from $55 to $30, Jefferies Downgraded its rating from Hold to Underperform for Carvana Co. (NYSE: CVNA).
In other news, Taira Thomas, President, Special Projects bought 35,000 shares of the company’s stock on Nov 22. The stock was bought for $240,100 at an average price of $6.86. Upon completion of the transaction, the President, Special Projects now directly owns 77,518 shares in the company, valued at $3.52 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 21, Chief Product Officer GILL DANIEL J. bought 133,000 shares of the business’s stock. A total of $1,013,460 was incurred on buying the stock at an average price of $7.62. This leaves the insider owning 263,415 shares of the company worth $11.95 million. Insiders disposed of 192,323 shares of company stock worth roughly $8.73 million over the past 1 year. A total of 1.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CVNA stock. A new stake in Carvana Co. shares was purchased by VOLORIDGE INVESTMENT MANAGEMENT, LLC during the first quarter worth $34,962,000. TREXQUANT INVESTMENT LP invested $28,788,000 in shares of CVNA during the first quarter. In the first quarter, TUDOR INVESTMENT CORP ET AL acquired a new stake in Carvana Co. valued at approximately $19,378,000. PAR CAPITAL MANAGEMENT INC acquired a new stake in CVNA for approximately $12,794,000. NUVEEN ASSET MANAGEMENT, LLC purchased a new stake in CVNA valued at around $10,933,000 in the second quarter. In total, there are 313 active investors with 94.96% ownership of the company’s stock.
A candlestick chart of Carvana Co. (NYSE: CVNA) showed a price of $41.79 on Monday morning. During the past 12 months, Carvana Co. has had a low of $3.55 and a high of $57.19. The fifty day moving average price for CVNA is $37.41 and a two-hundred day moving average price translates $16.29 for the stock.
The latest earnings results from Carvana Co. (NYSE: CVNA) was released for Jun, 2023. According to the Auto & Truck Dealerships Company, earnings per share came in at -$0.55, beating analysts’ expectations of -$1.15 by 0.6. This compares to -$4.33 EPS in the same period last year. The net profit margin was -11.10% and return on equity was 326.50% for CVNA. The company reported revenue of $2.97 billion for the quarter, compared to $3.88 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -23.58 percent. For the current quarter, analysts expect CVNA to generate $2.76B in revenue.
Carvana Co.(CVNA) Company Profile
Carvana Co., together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company’s 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices. The company was founded in 2012 and is based in Tempe, Arizona.
