Carvana Stock Surges Past Analyst Target Price: What Does it Mean for Investors?
In recent trading, shares of Carvana Co (Symbol: CVNA) have crossed above the average analyst 12-month target price of $247.94, changing hands for $250.06/share. When a stock reaches a target set by an analyst, the analyst usually has two options: downgrade the stock due to valuation concerns or increase their target price. The decision often hinges on positive business developments that could justify a higher stock price. If Carvana’s prospects are improving, raising the target could be warranted.
Currently, 16 different analysts contribute to the average target for Carvana Co under the Zacks coverage universe. However, the average is just one part of the picture. Some analysts predict lower price targets, with one as low as $170.00, while another targets as high as $320.00. The standard deviation among these targets is $41.801.
The reason to consider the average CVNA price target lies in the collective insights from various analysts, rather than relying solely on a single expert’s viewpoint. With CVNA now trading above the average target price of $247.94/share, investors are prompted to re-evaluate their positions: is the stock heading to an even higher target, or has it become too pricey, prompting a need to consider selling some shares? Below is a detailed table showing recent analyst ratings for Carvana Co:
| Recent CVNA Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 7 | 7 | 5 | 5 |
| Buy ratings: | 1 | 1 | 1 | 1 |
| Hold ratings: | 11 | 11 | 11 | 12 |
| Sell ratings: | 0 | 1 | 1 | 1 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 2.21 | 2.29 | 2.43 | 2.46 |
The average rating presented in the last row of the table reflects a scale where 1 is a Strong Buy and 5 is a Strong Sell. This information was provided by Zacks Investment Research via Quandl.com. For further insights, get the latest Zacks research report on CVNA — FREE.
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Also see:
VSCI Historical Stock Prices
EARN YTD Return
VCTR Dividend Growth Rate
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
