Carvana (NYSE:CVNA) Receives Buy Rating from William Blair
William Blair restated their buy rating on shares of Carvana (NYSE:CVNA) in a research report report published on Wednesday, TipRanks reports. William Blair also issued estimates for Carvana’s Q2 2020 earnings at ($0.85) EPS, Q4 2020 earnings at ($0.62) EPS, FY2020 earnings at ($3.33) EPS and FY2021 earnings at ($2.57) EPS.
A number of other brokerages have also commented on CVNA. Nomura Instinet increased their price target on shares of Carvana from $89.00 to $105.00 and gave the stock a neutral rating in a report on Tuesday, June 9th. TheStreet raised shares of Carvana from a d rating to a c- rating in a report on Tuesday, May 12th. Goldman Sachs Group began coverage on shares of Carvana in a report on Sunday, July 5th. They issued a neutral rating and a $108.00 price target on the stock. Wells Fargo & Co increased their price target on shares of Carvana from $115.00 to $135.00 and gave the stock an overweight rating in a report on Friday, June 26th. Finally, B. Riley decreased their price target on shares of Carvana from $125.00 to $105.00 and set a buy rating on the stock in a report on Tuesday, May 5th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $110.32.
Carvana stock opened at $154.95 on Wednesday. The firm’s 50 day simple moving average is $131.36 and its 200 day simple moving average is $93.31. The company has a current ratio of 1.24, a quick ratio of 0.49 and a debt-to-equity ratio of 82.86. The firm has a market capitalization of $26.40 billion, a PE ratio of -45.98 and a beta of 2.39. Carvana has a 1-year low of $22.16 and a 1-year high of $157.74.
Institutional investors and hedge funds have recently made changes to their positions in the business. Signaturefd LLC boosted its position in Carvana by 22.1% during the 2nd quarter. Signaturefd LLC now owns 387 shares of the company’s stock valued at $47,000 after buying an additional 70 shares during the period. Lenox Wealth Management Inc. bought a new position in Carvana in the 1st quarter worth $51,000. Valeo Financial Advisors LLC raised its holdings in Carvana by 47.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 956 shares of the company’s stock worth $115,000 after purchasing an additional 306 shares in the last quarter. SG Americas Securities LLC bought a new position in Carvana in the 2nd quarter worth $120,000. Finally, Stephenson National Bank & Trust raised its holdings in Carvana by 9.7% in the 2nd quarter. Stephenson National Bank & Trust now owns 1,724 shares of the company’s stock worth $207,000 after purchasing an additional 153 shares in the last quarter. 50.60% of the stock is owned by institutional investors and hedge funds.
Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's proprietary 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.
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