Carvana Co (CVNA): New Buy Recommendation for This Technology Giant
Needham analyst Chris Pierce reiterated a Buy rating on Carvana Co (CVNA) today and set a price target of $325.00. The company’s shares closed last Thursday at $263.66.
According to TipRanks.com, Pierce is a 1-star analyst with an average return of -7.0% and a 33.3% success rate. Pierce covers the Technology sector, focusing on stocks such as Fiverr International, Uber Technologies, and Shutterstock.
Carvana Co has an analyst consensus of Strong Buy, with a price target consensus of $317.77, implying a 12.7% upside from current levels. In a report issued on February 15, Robert W. Baird also assigned a Buy rating to the stock with a $325.00 price target.
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Based on Carvana Co’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.54 billion and GAAP net loss of $7.09 million. In comparison, last year the company earned revenue of $1.09 billion and had a GAAP net loss of $30.09 million.
Based on the recent corporate insider activity of 320 insiders, corporate insider sentiment is neutral on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Carvana Co. is a holding company and an eCommerce platform, which engages in the buying of used cars and provision of different and convenient car buying experience. It operates through the following segments: Vehicle Sales; Wholesale Vehicle Sales; and Other Sales and Revenue. The Vehicle Sales segment consists of used vehicle to customers through website. The Wholesale Vehicle Sales segment comprises of the proceeds from vehicles sold to wholesalers. The Other Sales and Revenue segment composes of sales of automotive finance receivable originate and sell to third parties. The company was founded by Ernest Garcia, III, Benjamin Huston and Ryan Keeton in 2012 and is headquartered in Phoenix, AZ.