Wells Fargo analyst David Lantz maintains $Carvana (CVNA.US)$ with a buy rating, and adjusts the target price from $175 to $250.
According to TipRanks data, the analyst has a success rate of 46.7% and a total average return of 3.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Carvana (CVNA.US)$'s main analysts recently are as follows:
Despite Carvana's outperformance, there is a positive outlook into Q3 with the potential for gains in units/adjusted EBITDA, underscored by improving fundamentals and an increasing inventory selection. The opportunity for broad-based gross profit per unit (GPU) remains, and the potential for market share gains is still considered to be in the early stages.
The firm views Carvana positively, adjusting their valuation outlook. In the broader U.S. Internet sector, the preference leans towards companies either catering to higher-income consumers or those involved with markets on the cusp of significant change. The firm holds a particularly favorable view on companies such as those operating in the online marketplace arena for automotive and real estate.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
