In a report released today, Zachary Fadem from Wells Fargo reiterated a Buy rating on Carvana Co (CVNA), with a price target of $115.00. The company’s shares closed last Friday at $96.45.
According to TipRanks.com, Fadem is a 5-star analyst with an average return of 17.3% and a 73.6% success rate. Fadem covers the Consumer Goods sector, focusing on stocks such as National Vision Holdings, Floor & Decor Holdings, and Advance Auto Parts.
Carvana Co has an analyst consensus of Moderate Buy, with a price target consensus of $88.60, which is a -6.1% downside from current levels. In a report issued on May 11, Oppenheimer also maintained a Buy rating on the stock with a price target.
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Based on Carvana Co’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.1 billion and GAAP net loss of $59.89 million. In comparison, last year the company earned revenue of $755 million and had a GAAP net loss of $23.12 million.
Based on the recent corporate insider activity of 116 insiders, corporate insider sentiment is neutral on the stock.
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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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