RBC Capital Remains a Buy on Carvana Co (CVNA)
In a report released yesterday, Brad Erickson from RBC Capital maintained a Buy rating on Carvana Co, with a price target of $92.00.
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Erickson covers the Communication Services sector, focusing on stocks such as Zillow Group Class A, Meta Platforms, and Reddit Inc Class A. According to TipRanks, Erickson has an average return of 6.4% and a 49.09% success rate on recommended stocks.
In a report released today, Citi also reiterated a Buy rating on the stock with a $93.00 price target.
Based on Carvana Co’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $6.43 billion and a net profit of $405 million. In comparison, last year the company earned a revenue of $4.23 billion and had a net profit of $216 million
Based on the recent corporate insider activity of 348 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CVNA in relation to earlier this year. Earlier this month, Michael Maroone, a Director at CVNA bought 5.00 shares for a total of $2,206.80.
Read More on CVNA:
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- Carvana: Operational Efficiency Gains Support Buy Rating, Price Target Maintained at $97
- Carvana: Operational Visit Underscores Scaling Potential as Analyst Reiterates Buy and $120 Price Target
- Carvana Maintains Buy Rating as Operational Gains Support Unchanged $93 Price Target
- Moderately bullish activity in Carvana with shares up 4.2%
- Option traders moderately bearish in Carvana with shares down 6.53%
