Shares of Carvana Co (NYSE:CVNA) nosedived in early trading on Thursday, after the company reported upbeat fourth-quarter revenues on Wednesday.
Here are the key analyst insights:
- DA Davidson analyst Michael Baker reiterated a Neutral rating, while slashing the price target from $470 to $320.
- RBC Capital Markets analyst Brad Erickson maintained an Outperform rating, while cutting the price target from $500 to $440.
Check out other analyst stock ratings.
DA Davidson: Carvana reported revenues of $5.647 billion, topping the consensus of $5.603 billion, Baker said in the note. Revenues grew 58% year-on-year, accelerating from 55% growth in the previous quarter, and came significantly above the consensus estimate of 48%, he …