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Stifel Nicolaus Thinks Carvana Co’s Stock is Going to Recover

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In a report released yesterday, Scott Devitt from Stifel Nicolaus maintained a Buy rating on Carvana Co (CVNAResearch Report), with a price target of $220.00. The company’s shares closed last Wednesday at $162.69, close to its 52-week low of $130.25.

According to TipRanks.com, Devitt is a 5-star analyst with an average return of 19.0% and a 52.6% success rate. Devitt covers the Technology sector, focusing on stocks such as Jumia Technologies AG, Zillow Group Class A, and Uber Technologies.

Currently, the analyst consensus on Carvana Co is a Moderate Buy with an average price target of $266.00, which is a 69.8% upside from current levels. In a report issued on February 3, Bank of America Securities also maintained a Buy rating on the stock with a $320.00 price target.

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Based on Carvana Co’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $3.48 billion and GAAP net loss of $32 million. In comparison, last year the company earned revenue of $1.54 billion and had a GAAP net loss of $7 million.

Based on the recent corporate insider activity of 510 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Founded in 2012, Arizona-based Carvana Co. is an e-commerce platform for buying and selling used cars in the United States. 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.

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