Carvana (NYSE:CVNA – Free Report) had its price objective hoisted by Wells Fargo & Company from $15.00 to $50.00 in a research report report published on Thursday, Marketbeat Ratings reports. They currently have an equal weight rating on the stock.
A number of other research analysts have also commented on CVNA. JMP Securities upped their price objective on Carvana from $25.00 to $50.00 in a report on Tuesday, July 11th. Citigroup upped their price objective on Carvana from $11.00 to $25.00 in a report on Friday, June 9th. Royal Bank of Canada lowered Carvana from a sector perform rating to an underperform rating and set a $30.00 price objective on the stock. in a report on Thursday. Deutsche Bank Aktiengesellschaft increased their target price on Carvana from $10.00 to $11.00 in a report on Monday, May 8th. Finally, JPMorgan Chase & Co. lowered Carvana from a neutral rating to an underweight rating in a report on Thursday, July 13th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Carvana currently has an average rating of Hold and an average price target of $40.83.
Carvana Trading Down 2.4 %
CVNA stock opened at $45.62 on Thursday. The firm has a market capitalization of $8.63 billion, a PE ratio of -3.70 and a beta of 3.07. Carvana has a 1-year low of $3.55 and a 1-year high of $58.05. The business’s 50 day simple moving average is $23.55 and its 200 day simple moving average is $14.03.
Hedge Funds Weigh In On Carvana
A number of hedge funds have recently made changes to their positions in CVNA. Signaturefd LLC raised its position in shares of Carvana by 39.6% during the fourth quarter. Signaturefd LLC now owns 5,332 shares of the company’s stock worth $25,000 after acquiring an additional 1,512 shares during the last quarter. TFC Financial Management Inc. bought a new position in shares of Carvana during the first quarter worth about $29,000. Captrust Financial Advisors raised its position in shares of Carvana by 270.9% during the second quarter. Captrust Financial Advisors now owns 1,324 shares of the company’s stock worth $30,000 after acquiring an additional 967 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of Carvana by 14,831.6% during the fourth quarter. Meeder Asset Management Inc. now owns 8,511 shares of the company’s stock worth $40,000 after acquiring an additional 8,454 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in shares of Carvana during the second quarter worth about $44,000. 51.07% of the stock is currently owned by institutional investors.
Carvana Company Profile
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 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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