After Jefferies and Robert W. Baird gave Carvana Co (NYSE: CVNA) a Buy rating last month, the company received another Buy, this time from Wells Fargo. Analyst Zachary Fadem maintained a Buy rating on Carvana Co today and set a price target of $340.00. The company’s shares closed last Thursday at $263.45.
According to TipRanks.com, Fadem is a top 100 analyst with an average return of 32.6% and a 79.0% success rate. Fadem covers the Consumer Goods sector, focusing on stocks such as Petco Health and Wellness Company, National Vision Holdings, and Floor & Decor Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Carvana Co with a $329.40 average price target, which is a 19.0% upside from current levels. In a report issued on April 23, Truist Financial also maintained a Buy rating on the stock with a $320.00 price target.
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Based on Carvana Co’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.83 billion and GAAP net loss of $63.34 million. In comparison, last year the company earned revenue of $1.1 billion and had a GAAP net loss of $41.13 million.
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Founded in 2012, Arizona-based Carvana Co. is an e-commerce platform for buying and selling used cars in the United States. Carvana.com enables consumers to quickly and easily shop more than 20,000 vehicles, finance, trade-in or sell their current vehicle to Carvana, sign contracts, and schedule as-soon-as-next-day delivery or pickup at one of Carvana’s patented, automated Car Vending Machines.
