UPDATE: Argus Starts Carvana (CVNA) at Hold

August 18, 2022 7:38 AM EDT
Get Alerts CVNA Hot Sheet
Price: $20.30 -5.89%

Rating Summary:
    12 Buy, 24 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 10 | Down: 4 | New: 31
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(Updated - August 18, 2022 7:39 AM EDT)

Argus analyst Taylor Conrad initiates coverage on Carvana (NYSE: CVNA) with a Hold rating.

The analyst comments "We are initiating coverage of Carvana Co. (NYSE: CVNA) with a near-term HOLD rating and a long-term BUY rating. Carvana, based in Arizona, is an e-commerce platform for buying and selling used cars. The platform enables customers to complete a purchase or sale, secure financing, and schedule delivery or pick-up online - thus helping them to save time and money. We believe that Carvana has competitive advantages over traditional dealerships in vehicle selection, price, quality, and user experience. We also like the company's focus on data collection and analytics to manage all aspects of its business, from inventory acquisition and reconditioning to marketing, financing, and delivery. As the second-largest used-car retailer in the U.S., the company benefits from network efficiencies and economies of scale. It is also well positioned to expand its business in a highly fragmented U.S. market, with more than 43,000 used car dealerships."

For an analyst ratings summary and ratings history on Carvana click here. For more ratings news on Carvana click here.

Shares of Carvana closed at $49.62 yesterday.

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