In yesterday’s Wall Street session, Carvana Co. (NYSE:CVNA) shares traded at $41.99, down -2.12% from the previous session.
23 analysts cover Carvana Co. (NYSE:CVNA), according to research data. 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 $45.00. Given the previous closing price of $42.90, this indicates a potential upside of 4.9 percent. CVNA stock price is now -6.68% away from the 50-day moving average and 112.47% away from the 200-day moving average. The market capitalization of the company currently stands at $4.47B.
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The stock has received a hold rating from 16 analysts and a buy rating from 2. Brokers who have rated the stock have averaged $43.65 as their price target over the next twelve months.
With the price target enhanced from $40 to $48, Wedbush Upgraded its rating from Underperform to Neutral for Carvana Co. (NYSE: CVNA).
In other news, BREAUX PAUL W., insider sold 20,000 shares of the company’s stock on Sep 11. The stock was sold for $980,000 at an average price of $49.00. Upon completion of the transaction, the insider now directly owns 165,174 shares in the company, valued at $6.94 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 22, President, Special Projects Taira Thomas bought 35,000 shares of the business’s stock. A total of $240,100 was incurred on buying the stock at an average price of $6.86. This leaves the insider owning 77,518 shares of the company worth $3.25 million. Insiders disposed of 191,335 shares of company stock worth roughly $8.03 million over the past 1 year. A total of 20.64% 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 $32,357,000. TREXQUANT INVESTMENT LP invested $26,644,000 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 $17,934,000. PAR CAPITAL MANAGEMENT INC acquired a new stake in CVNA for approximately $11,841,000. NUVEEN ASSET MANAGEMENT, LLC purchased a new stake in CVNA valued at around $10,119,000 in the second quarter. In total, there are 313 active investors with 91.90% ownership of the company’s stock.
On Friday morning Carvana Co. (NYSE: CVNA) stock kicked off with the opening price of $43.88. 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 $45.00 and a two-hundred day moving average price translates $19.76 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 -11.08% and return on equity was -264.04% 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 $2.77B 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.
