Goldman Sachs Group Initiates Coverage on Carvana (NYSE:CVNA)

Goldman Sachs Group assumed coverage on shares of Carvana (NYSE:CVNA) in a research report released on Sunday, BenzingaRatingsTable reports. The firm issued a neutral rating and a $108.00 price objective on the stock.

Other equities research analysts have also recently issued reports about the company. TheStreet upgraded Carvana from a d rating to a c- rating in a research report on Tuesday, May 12th. Robert W. Baird upped their price target on Carvana from $90.00 to $105.00 in a research report on Monday, June 1st. B. Riley decreased their price target on Carvana from $125.00 to $105.00 and set a buy rating on the stock in a research report on Tuesday, May 5th. ValuEngine cut Carvana from a buy rating to a hold rating in a research report on Thursday, July 2nd. Finally, Morgan Stanley upped their price target on Carvana from $23.00 to $24.00 and gave the company an underweight rating in a research report on Thursday, May 7th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company. Carvana currently has a consensus rating of Hold and an average price target of $100.52.

Shares of Carvana stock opened at $138.92 on Friday. Carvana has a 52-week low of $22.16 and a 52-week high of $139.30. The stock’s 50-day simple moving average is $112.04 and its 200 day simple moving average is $87.65. The stock has a market capitalization of $22.90 billion, a P/E ratio of -41.22 and a beta of 2.39. The company has a debt-to-equity ratio of 82.86, a quick ratio of 0.49 and a current ratio of 1.24.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.63) by ($0.55). Carvana had a negative net margin of 3.89% and a negative return on equity of 127.13%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the firm posted ($0.53) earnings per share. The company’s revenue was up 45.4% on a year-over-year basis. Equities research analysts forecast that Carvana will post -3.46 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Engrave Wealth Partners LLC purchased a new stake in Carvana in the fourth quarter worth approximately $35,000. Lenox Wealth Management Inc. purchased a new stake in Carvana in the first quarter worth approximately $51,000. Stephenson National Bank & Trust purchased a new stake in Carvana in the fourth quarter worth approximately $140,000. Gabelli Funds LLC purchased a new stake in Carvana in the fourth quarter worth approximately $221,000. Finally, Magnetar Financial LLC purchased a new stake in Carvana in the fourth quarter worth approximately $257,000. 52.20% of the stock is owned by institutional investors and hedge funds.

About Carvana

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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Analyst Recommendations for Carvana (NYSE:CVNA)

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