Wedbush Maintains Outperform Rating for Carvana: Here's What You Need To Know

Wedbush has decided to maintain its Outperform rating of Carvana CVNA and lower its price target from $120.00 to $90.00.

Shares of Carvana are trading down 5.56% over the last 24 hours, at $57.11 per share.

A move to $90.00 would account for a 57.59% increase from the current share price.

About Carvana

Carvana Co is an e-commerce platform for buying and selling used cars. The company derives revenue from used vehicle sales, wholesale vehicle sales and other sales and revenues. The other sales and revenues include sales of loans originated and sold in securitization transactions or to financing partners, commissions received on VSCs and sales of GAP waiver coverage.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.