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CVNA

Carvana

$101.66 /

-2.535 (-2.43%)

09:04
02/27/20
02/27
09:04
02/27/20
09:04

Carvana price target raised to $55 from $40 at Craig-Hallum

Craig-Hallum analyst Steve Dyer raised the firm's price target on Carvana to $55 from $40 following quarterly results, while reiterating a Hold rating on the shares. The analyst believes there were several red flags that should give bulls pause, such as management introducing revenue growth expectations about 10% below Street expectations. Moreover, growth is slowing much faster than he anticipated in its oldest cohorts despite increased CAC spend in those markets. While the company continues to take market share on both the buy and sell side and has nicely improved GPU, it also continues to spend heavily to do it and the analyst questions if/when Carvana will be able to pull back on this spending. Overall, Dyer continues to expect the business to grow revenue quickly but also thinks profitability is much further away than investors expect, cash burn will be significantly higher, and the used vehicle retail business is much harder and more competitive than inherent in the company's $16B valuation.

CVNA Carvana
$101.66 /

-2.535 (-2.43%)

02/27/20 Deutsche Bank
Carvana price target lowered to $105 from $120 at Deutsche Bank
02/27/20 Wedbush
Carvana price target raised to $90 from $75 at Wedbush
02/27/20 Baird
Carvana price target raised to $100 from $87 at Baird
02/27/20 Stephens
Carvana price target raised to $90 from $75 at Stephens

TODAY'S FREE FLY STORIES

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Hot Stocks
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General news
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Recommendations
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Recommendations
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Conference/Events
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