Needham analyst Brad Erickson maintained a Buy rating on Carvana Co (CVNA) today and set a price target of $75.00. The company’s shares closed last Tuesday at $55.09.
According to TipRanks.com, Erickson is ranked #5532 out of 6239 analysts.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Carvana Co with a $85.96 average price target, a 67.0% upside from current levels. In a report issued on March 20, B.Riley FBR also maintained a Buy rating on the stock with a $125.00 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 $1.1 billion and GAAP net loss of $20.48 million. In comparison, last year the company earned revenue of $585 million and had a GAAP net loss of $22.43 million.
Based on the recent corporate insider activity of 154 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CVNA in relation to earlier this year.
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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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