Carvana Co (CVNA) Receives a Rating Update from a Top Analyst
In a report released today, Colin Sebastian from Robert W. Baird maintained a Buy rating on Carvana Co (CVNA), with a price target of $260.00. The company’s shares closed last Tuesday at $203.00.
According to TipRanks.com, Sebastian is a top 25 analyst with an average return of 32.8% and a 74.5% success rate. Sebastian covers the Technology sector, focusing on stocks such as Alphabet Class A, Paypal Holdings, and ChannelAdvisor.
Carvana Co has an analyst consensus of Moderate Buy, with a price target consensus of $235.24, implying a 12.1% upside from current levels. In a report issued on October 7, Goldman Sachs also maintained a Buy rating on the stock with a $270.00 price target.
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Based on Carvana Co’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.12 billion and GAAP net loss of $40.83 million. In comparison, last year the company earned revenue of $986 million and had a GAAP net loss of $20.32 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. 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.
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