Carvana Co (CVNA) Receives a Buy from Wells Fargo
In a report released today, Zachary Fadem from Wells Fargo maintained a Buy rating on Carvana Co (CVNA), with a price target of $105.00. The company’s shares closed last Monday at $87.91, close to its 52-week high of $96.44.
According to TipRanks.com, Fadem is a 5-star analyst with an average return of 15.7% and a 72.0% success rate. Fadem covers the Services sector, focusing on stocks such as National Vision Holdings, Floor & Decor Holdings, and Advance Auto Parts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Carvana Co with a $89.78 average price target, representing a -3.1% downside. In a report issued on December 4, Needham also reiterated a Buy rating on the stock with a $105.00 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 GAAP net loss of $39.02 million. In comparison, last year the company had a GAAP net loss of $16.04 million.
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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.