Carvana Co (CVNA) Receives a Buy from Wells Fargo
Wells Fargo analyst Zachary Fadem maintained a Buy rating on Carvana Co (CVNA) today and set a price target of $85.
“We discussed the industry with Mark Jenkins, CFO of CVNA, and George Arison, Founder and Co-CEO of privately-held Shift, and came away bullish on the potential for accelerating consumer adoption of buying/selling cars online.”
According to TipRanks.com, Fadem is a 5-star analyst with an average return of 10.4% and a 68.2% success rate. Fadem covers the Services sector, focusing on stocks such as National Vision Holdings Inc, Floor & Decor Holdings Inc, and Advance Auto Parts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Carvana Co with a $78.14 average price target.
See today’s analyst top recommended stocks >>
Based on Carvana Co’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $28.55 million. In comparison, last year the company had a GAAP net loss of $9.97 million.
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.
Read More on CVNA: