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CVNA

Carvana

$55.60

-2.38 (-4.10%)

, KMX

CarMax

$60.96

-1.295 (-2.08%)

05:21
03/25/19
03/25
05:21
03/25/19
05:21

Carvana price target raised to $65 from $58 at Baird

Baird analyst Colin Sebastian raised his price target for Carvana (CVNA) to $65 from $58 after increasing his Q1 unit and revenue estimates above consensus. The analyst now expects Q1 retail units of 34,000, above the consensus of 32,900, on revenue of $678M, up 88% year-over-year. Tax refund flows are likely to provide a late-quarter tailwind, Sebastian tells investors in a research note. The correlation between refunds and used car sales is likely providing a boost in unit sales ahead of the Q1 quarter close, Sebastian tells investors in a research note. Further, he believes the online shift by CarMax (KMX) and Tesla (TSLA) are endorsements of the e-commerce model. The analyst remains constructive on Carvana shares citing the momentum from a seasonal uplift in car sales, positive near-term data checks, and the "massive" long-term e-commerce opportunity for used cars. He keeps an Outperform rating on Carvana.

CVNA

Carvana

$55.60

-2.38 (-4.10%)

KMX

CarMax

$60.96

-1.295 (-2.08%)

TSLA

Tesla

$264.58

-9.52 (-3.47%)

  • 29

    Mar

  • 23

    Apr

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    Jun

CVNA Carvana
$55.60

-2.38 (-4.10%)

02/28/19
MSCO
02/28/19
NO CHANGE
Target $21
MSCO
Underweight
Morgan Stanley maintains Underweight rating on Carvana, cuts target to $21
Morgan Stanley analyst Armintas Sinkevicius noted that Carvana's Q4 results and 2019 guidance were below consensus expectations, stating that he expects Bulls to be encouraged by the cohort curves, while the Bears will point to lower results, guidance, and cash balances. While management said during the earnings call that they do not plan to raise equity or debt, Sinkevicius thinks it is possible the company may need to raise capital, he tells investors. The analyst, who also calls out the potential for insider selling, keeps an Underweight rating on Carvana shares and lowered his price target on the stock to $21 from $23.
02/28/19
SBSH
02/28/19
NO CHANGE
Target $65
SBSH
Buy
Carvana price target raised to $65 from $55 at Citi
Citi analyst Nicholas Jones raised his price target for Carvana to $65 saying the company's "soft" Q4 results and 2019 guidance do not overshadow its growth. Though the 2019 guide came in below consensus, the analyst believes the outlook will likely increase throughout the year. He views Carvanas's continued aggressive market entry pace and IRC scalability as a positive for leverage in out years. Jones keeps a Buy rating on the shares.
03/21/19
RILY
03/21/19
NO CHANGE
Target $72
RILY
Buy
Carvana traffic checks positive, used car data 'bullish,' says B. Riley FBR
B. Riley FBR analyst Sameet Sinha reiterates a Buy rating on Carvana with a $72 price target following "bullish" data for used cars. Data points from Edmunds indicate that rising new car prices and interest rates should swing the pendulum towards used cars in 2019, Sinha tells investors in a research note. On the tax refund front, while the number of filings is below 2018 levels year-to-date, the average refund has been flat to up for three weeks now versus declines seen previously, adds the analyst. Further, he points out that that traffic checks are indicating a "nice uptick" in Carvana traffic in February and March. If this trajectory continues, Carvana's Q1 units should come in ahead of consensus expectations of 32,926, contends Sinha.
03/05/19
MSCO
03/05/19
NO CHANGE
Target $283
MSCO
Equal Weight
Tesla move to all-online sales a 'major event' in U.S. auto retailing, says Morgan Stanley
Morgan Stanley analyst Adam Jonas, in a note to investor titled "Is Tesla Trying to be the Carvana of New Car Dealers?," called the electric carmaker's move to a nearly all-online sales model a "major event in US auto retailing." While most auto makers would love to sell new cars directly to consumers on-line without the involvement of a physical dealer, they cannot due to state laws intended to protect dealer franchisees. If Tesla's move to on-line only works, and yields cost savings, Jonas said he would expect a revival of the debate around auto dealer franchise laws. While Tesla's Thursday night announcements created volatility and discussion around Tesla shares, Jonas said he believes the "more profound and longer-lasting theme" is "around the very future of US auto retailing in an industry facing real disruption," he tells investors.
KMX CarMax
$60.96

-1.295 (-2.08%)

12/24/18
12/24/18
NO CHANGE

Fly Intel: Top five analyst actions
Catch up on today's top five analyst actions with this list compiled by The Fly: 1. CarMax (KMX) upgraded to Buy from Neutral at Guggenheim with analyst Ali Faghri citing valuation. 2. Newtek Business (NEWT) upgraded to Outperform from Market Perform at Raymond James. 3. RPM (RPM) downgraded to Underweight from Neutral at JPMorgan with analyst Jeffrey Zekauskas citing valuation. 4. BlackBerry (BB) downgraded to Sell from Buy at Veritas. 5. Histogenics (HSGX) downgraded to Neutral from Buy at H.C. Wainwright with analyst Swayampakula Ramakanth saying the FDA is requiring an additional study with NeoCart. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/18/19
WEDB
01/18/19
DOWNGRADE
Target $60
WEDB
Neutral
CarMax downgraded to Neutral from Outperform at Wedbush
Wedbush analyst Seth Basham downgraded CarMax to Neutral from Outperform and lowered his price target to $60 from $70. In a research note to investors, Basham said he came away from the company's analyst meeting convinced that the company is committed to its omnichannel strategy, but believes the transition "will not be easy" due to deeply-rooted processes and behaviors that could be "disruptive" and "expensive" to change. Basham says it likely will neither be quick nor inexpensive for CarMax to change its weakened customer value perception in this highly competitive environment and also notes comps that continue to track well below consensus and weakening CAF performance trends.
01/18/19
WEDB
01/18/19
DOWNGRADE
WEDB
Neutral
CarMax downgraded to Neutral from Outperform at Wedbush
01/07/19
BUCK
01/07/19
UPGRADE
Target $76
BUCK
Buy
CarMax upgraded to Buy from Neutral at Buckingham
Buckingham analyst Glenn Chin upgraded CarMax to Buy from Neutral, but cut its price target to $76 from $84 citing valuation. The analyst cannot discount concerns over intensifying competition and same-store unit cops, but said the 40M unit used vehicle market is sufficiently large enough and fragmented that it can support several large successful players. Chin also sees several catalysts to drive CarMax shares higher including continued earnings growth, abnormally strong used vehicle values, easing same-store comps, the nationwide roll-out of CarMax's omni-channel strategy, buybacks, and potentially reduced FED tightening.
TSLA Tesla
$264.58

-9.52 (-3.47%)

03/22/19
COWN
03/22/19
NO CHANGE
Target $180
COWN
Underperform
Tesla price target lowered to $180 from $200 at Cowen
Cowen analyst Jeffrey Osborne lowered his Q1 deliveries estimates for Tesla to reflect both state government and third party data that he said suggests deliveries will be weaker than his prior expectations. He cut his Model 3 delivery forecast to 47,500 from 55,000 and lowered his Model S/X delivery forecast to 18,000 from 21,500. Osborne, who expects U.S. demand to be soft until the release of the $35,000 version of the Model 3 in Q2, cut his price target on Tesla shares to $180 from $200 and keeps an Underperform rating on the stock.
03/19/19
03/19/19
INITIATION
Target $9

Buy
LiveXLive Media initiated with a Buy at MaximT
As previously reported, Maxim analyst Allen Klee initiated LiveXLive (LIVX) Media with a Buy rating and a price target of $9, anticipating strong growth from its Live Music and Streaming business after the company's announced plans to stream 27 events this year and over 40 in 2020. The analyst also cites LiveXLive Media's partnership with Tesla (TSLA) as a "key subscription revenue growth driver", whereby the company receives monthly payments on every Tesla vehicle delivered in the U.S.
03/19/19
ROTH
03/19/19
NO CHANGE
Target $270
ROTH
Neutral
Tesla Model Y launch likely pulled forward to distract from Model 3 demand, says Roth Capital
Following Tesla's launch event for the Model Y, where the company introduced three vehicle variants it plans to start delivering in 2020-2021, Roth Capital analyst Craig Irwin sees base vehicle pricing of $39k-$60k as "too high to drive significant acceleration" to Tesla's order velocity. The analyst also believes the launch event was likely pulled forward to distract from datapoints suggesting weaker than expected Model 3 demand. Tesla must now deliver unit growth for the stock to work, he contends. Irwin reiterates a Neutral rating and a $270 price target on the shares.
03/18/19
BARD
03/18/19
NO CHANGE
Target $465
BARD
Outperform
Baird reiterates Outperform rating on Tesla following Model Y reveal
After Tesla unveiled the Model Y and gave details on its plans for the crossover vehicle, Baird analyst Ben Kallo said he thinks the vehicle specifications came in towards the higher end of expectations and the production timeline was in-line with his expectations. Kallo, who sees negative sentiment on Model 3 demand and Q1 deliveries as overblown, maintains Tesla as a Fresh Pick and keeps an Outperform rating on the stock with a $465 price target.

TODAY'S FREE FLY STORIES

INSG

Inseego

$6.89

-0.05 (-0.72%)

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FTSV

Forty Seven

$30.44

16.04 (111.39%)

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ARQL

ArQule

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10.035 (103.77%)

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XNCR

Xencor

$41.41

0.39 (0.95%)

19:25
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ABR

Arbor Realty

$14.78

(0.00%)

19:20
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Syndicate
Arbor Realty 6.5M share Spot Secondary priced at $14.14 »

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STRM

Streamline Health

$1.25

-0.04 (-3.10%)

18:59
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Streamline Health delaying Q3 results to resolve amortization charge »

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    Dec

NLOK

NortonLifeLock

$25.43

-0.02 (-0.08%)

, INTC

Intel

$56.52

-0.28 (-0.49%)

18:55
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Periodicals
McAfee weighs combination with NortonLifeLock, WSJ reports »

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NortonLifeLock

$25.43

-0.02 (-0.08%)

INTC

Intel

$56.52

-0.28 (-0.49%)

AVGO

Broadcom

$314.49

-1.68 (-0.53%)

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TGTX

TG Therapeutics

$9.28

2.17 (30.52%)

18:55
12/09/19
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Conference/Events
TG Therapeutics to host investor & analyst meeting »

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NTNX

Nutanix

$33.87

-0.725 (-2.10%)

18:41
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Hot Stocks
Nutanix CEO: We are transitioning to a subscription-based model »

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  • 09

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SFIX

Stitch Fix

$25.17

1.04 (4.31%)

, MDB

MongoDB

$131.03

-0.19 (-0.14%)

18:33
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Stitch Fix

$25.17

1.04 (4.31%)

MDB

MongoDB

$131.03

-0.19 (-0.14%)

PHR

Phreesia

$29.01

-0.09 (-0.31%)

CDMO

Avid Bioservices

$5.85

0.05 (0.86%)

MTN

Vail Resorts

$231.30

-1.43 (-0.61%)

TOL

Toll Brothers

$41.40

0.515 (1.26%)

EQ

Equillium

$4.00

-0.03 (-0.74%)

SUPN

Supernus

$22.69

-0.145 (-0.63%)

A

Agilent

$81.68

-0.545 (-0.66%)

HEPA

Hepion Pharmaceuticals

$5.61

0.4 (7.68%)

ROAD

Construction Partners

$20.56

0.66 (3.32%)

CASY

Casey's General Stores

$175.33

-0.47 (-0.27%)

CHWY

Chewy

$24.17

-0.76 (-3.05%)

LVGO

Livongo Health

$27.40

-0.6 (-2.14%)

03/08/13
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  • 09

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    Dec

BLUE

Bluebird Bio

$76.72

-2.79 (-3.51%)

, BMY

Bristol-Myers

$61.32

1.38 (2.30%)

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Bluebird Bio, Bristol-Myers present update on Phase 1 study of bb21217 »

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BLUE

Bluebird Bio

$76.72

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BMY

Bristol-Myers

$61.32

1.38 (2.30%)

03/08/13
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  • 09

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BA

Boeing

$351.25

-2.74 (-0.77%)

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Former Boeing employee Pierson to testify at U.S. House hearing, Reuters says »

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  • 10

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OXY

Occidental Petroleum

$37.34

-0.07 (-0.19%)

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Occidental Petroleum director buys 12.9K shares of common stock »

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  • 09

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OXY

Occidental Petroleum

$37.34

-0.07 (-0.19%)

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  • 09

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EDIT

Editas Medicine

$30.34

-0.6 (-1.94%)

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MSB

Mesabi Trust

$23.93

0.71 (3.06%)

, CLF

Cleveland-Cliffs

$8.52

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CLF

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FFBC

First Financial Bancorp

$24.67

0.12 (0.49%)

17:51
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Hot Stocks
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GPRE

Green Plains

$14.26

-0.49 (-3.32%)

17:47
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MDT

Medtronic

$111.12

-2.02 (-1.79%)

17:43
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Hot Stocks
Medtronic director buys 5K shares of common stock »

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  • 18

    Feb

VAC

Marriott Vacations

$123.77

-0.1 (-0.08%)

17:41
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FSLY

Fastly

$20.82

-0.35 (-1.65%)

17:36
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17:36
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17:36
Hot Stocks
Fastly director Sunil Dhaliwal sells almost $576K in company shares »

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  • 09

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SFIX

Stitch Fix

$25.17

1.04 (4.31%)

17:36
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12/09
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Stitch Fix says saw healthy growth in both women's, men's categories »

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  • 09

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  • 19

    Dec

F

Ford

$9.00

-0.015 (-0.17%)

17:32
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Ford expects to roughly halve 2018 China EBIT loss »

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  • 09

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  • 07

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  • 04

    Feb

VEEV

Veeva

$143.56

-1.115 (-0.77%)

17:28
12/09/19
12/09
17:28
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17:28
Hot Stocks
Veeva CMO sells 5K shares of common stock »

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  • 11

    Dec

BLDR

Builders FirstSource

$25.71

0.45 (1.78%)

17:25
12/09/19
12/09
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17:25
Hot Stocks
Builders FirstSource acquires assets of Raney Components, Construction »

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  • 19

    Dec

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