Fintel reports that on July 20, 2023, DA Davidson maintained coverage of Carvana Co. - (NYSE:CVNA) with a Neutral recommendation.
Analyst Price Forecast Suggests 72.28% Downside
As of July 6, 2023, the average one-year price target for Carvana Co. - is 15.47. The forecasts range from a low of 1.01 to a high of $37.80. The average price target represents a decrease of 72.28% from its latest reported closing price of 55.80.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Carvana Co. - is 14,551MM, an increase of 14.46%. The projected annual non-GAAP EPS is -7.50.
What is the Fund Sentiment?
There are 397 funds or institutions reporting positions in Carvana Co. -. This is a decrease of 85 owner(s) or 17.63% in the last quarter. Average portfolio weight of all funds dedicated to CVNA is 0.34%, an increase of 33.04%. Total shares owned by institutions decreased in the last three months by 11.95% to 120,439K shares. 
The put/call ratio of CVNA is 1.16, indicating a bearish outlook.
What are Other Shareholders Doing?
Baillie Gifford holds 14,058K shares representing 13.24% ownership of the company. In it's prior filing, the firm reported owning 14,169K shares, representing a decrease of 0.79%. The firm increased its portfolio allocation in CVNA by 77.43% over the last quarter.
Spruce House Investment Management holds 10,000K shares representing 9.42% ownership of the company. No change in the last quarter.
Greenoaks Capital Partners holds 7,370K shares representing 6.94% ownership of the company. No change in the last quarter.
CAS Investment Partners holds 6,828K shares representing 6.43% ownership of the company. No change in the last quarter.
Exor Capital LLP holds 5,184K shares representing 4.88% ownership of the company.
Carvana Background Information
(This description is provided by the company.)
Founded in 2012 and based in Phoenix, Carvana's mission is to change the way people buy cars. By removing the traditional dealership infrastructure and replacing it with technology and exceptional customer service, Carvana offers consumers an intuitive and convenient online car buying and financing platform. Carvana.com enables consumers to quickly and easily shop more than 20,000 vehicles, finance, trade-in or sell their current vehicle to Carvana, sign contracts, and schedule as-soon-as-next-day delivery or pickup at one of Carvana's patented, automated Car Vending Machines.
Additional reading:
- Transaction Support Agreement, dated as of July 17, 2023, by and among Carvana Co, Carvana Group, LLC, Ernest Garcia II, Ernest Garcia III, and each Initial Supporting Noteholder party thereto
- Distribution Agreement, among Carvana Co., Carvana Group, LLC and Citigroup Global Markets Inc. and Moelis & Company LLC, as sales agents, dated July 19, 2023.
- Carvana Announces Agreement With Noteholders That Will Provide The Company with Significant Flexibility as It Continues to Execute Its Profitability and Growth Plan by Reducing Total Debt, Extending Maturities, and Lowering Near-Term Cash Interest Ex
- UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION
- *As of July 19, 2023
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
