Recent Investment Analysts’ Ratings Updates for Carvana (CVNA)

Posted by on Aug 1st, 2023

Carvana (NYSE: CVNA) has recently received a number of price target changes and ratings updates:

  • 7/31/2023 – Carvana was downgraded by analysts at Jefferies Financial Group Inc. from a “hold” rating to an “underperform” rating. They now have a $30.00 price target on the stock, down previously from $55.00.
  • 7/26/2023 – Carvana was downgraded by analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating. They now have a $35.00 price target on the stock, up previously from $12.00.
  • 7/25/2023 – Carvana had its price target raised by analysts at Stephens to $42.00. They now have an “equal weight” rating on the stock.
  • 7/21/2023 – Carvana had its price target raised by analysts at JMP Securities from $50.00 to $60.00. They now have an “outperform” rating on the stock.
  • 7/21/2023 – Carvana had its price target raised by analysts at Citigroup Inc. from $25.00 to $50.00. They now have a “neutral” rating on the stock.
  • 7/20/2023 – Carvana had its price target raised by analysts at JPMorgan Chase & Co. from $10.00 to $15.00. They now have an “underweight” rating on the stock.
  • 7/20/2023 – Carvana had its price target raised by analysts at Wedbush to $40.00. They now have an “underperform” rating on the stock.
  • 7/20/2023 – Carvana was downgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “underperform” rating. They now have a $30.00 price target on the stock.
  • 7/20/2023 – Carvana was downgraded by analysts at Piper Sandler from an “overweight” rating to a “neutral” rating. They now have a $48.00 price target on the stock, up previously from $29.00.
  • 7/20/2023 – Carvana had its price target raised by analysts at Evercore ISI from $24.00 to $40.00. They now have an “in-line” rating on the stock.
  • 7/20/2023 – Carvana had its price target raised by analysts at Wells Fargo & Company from $15.00 to $50.00. They now have an “equal weight” rating on the stock.
  • 7/13/2023 – Carvana was downgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating.
  • 7/11/2023 – Carvana had its price target raised by analysts at JMP Securities from $25.00 to $50.00.
  • 7/5/2023 – Carvana had its price target raised by analysts at Piper Sandler from $21.00 to $29.00.
  • 6/9/2023 – Carvana had its price target raised by analysts at DA Davidson from $7.00 to $18.00.
  • 6/9/2023 – Carvana had its price target raised by analysts at Citigroup Inc. from $11.00 to $25.00.
  • 6/9/2023 – Carvana had its price target raised by analysts at Wells Fargo & Company from $10.00 to $15.00.

Carvana Stock Up 4.4 %

Shares of CVNA opened at $45.95 on Tuesday. The company has a market capitalization of $8.70 billion, a price-to-earnings ratio of -3.72 and a beta of 3.06. The stock’s 50-day moving average price is $26.79 and its 200-day moving average price is $15.41. Carvana Co. has a 52 week low of $3.55 and a 52 week high of $58.05.

Carvana (NYSE:CVNA – Get Free Report) last announced its quarterly earnings results on Wednesday, July 19th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.20) by $0.65. Carvana had a negative net margin of 11.08% and a negative return on equity of 1,491.81%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.62 billion. As a group, equities analysts anticipate that Carvana Co. will post -4.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Carvana

A number of institutional investors have recently made changes to their positions in CVNA. Morgan Stanley increased its stake in shares of Carvana by 65.1% during the fourth quarter. Morgan Stanley now owns 14,083,153 shares of the company’s stock valued at $66,754,000 after buying an additional 5,554,691 shares during the period. Exor Capital LLP purchased a new stake in shares of Carvana during the 1st quarter worth approximately $50,756,000. Spruce House Investment Management LLC boosted its position in Carvana by 52.7% during the 4th quarter. Spruce House Investment Management LLC now owns 10,000,000 shares of the company’s stock worth $47,400,000 after purchasing an additional 3,450,000 shares during the period. Renaissance Technologies LLC bought a new position in shares of Carvana in the fourth quarter valued at approximately $14,102,000. Finally, FMR LLC raised its holdings in shares of Carvana by 143.7% during the 1st quarter. FMR LLC now owns 4,667,263 shares of the company’s stock valued at $45,693,000 after purchasing an additional 2,752,097 shares in the last quarter. 51.07% of the stock is currently owned by institutional investors.

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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