Carvana (NYSE:CVNA) had its price objective upped by stock analysts at Robert W. Baird from $60.00 to $68.00 in a research note issued to investors on Thursday, The Fly reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 39.06% from the company’s previous close.
A number of other equities analysts have also weighed in on CVNA. Citigroup increased their target price on shares of Carvana from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, September 11th. They noted that the move was a valuation call. Stephens initiated coverage on shares of Carvana in a research report on Tuesday, September 4th. They set an “equal weight” rating for the company. Craig Hallum reiterated a “hold” rating on shares of Carvana in a research report on Thursday, September 13th. Wells Fargo & Co increased their target price on shares of Carvana from $60.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, October 1st. Finally, Wolfe Research initiated coverage on shares of Carvana in a research report on Tuesday, October 2nd. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $59.05.
NYSE CVNA opened at $48.90 on Thursday. Carvana has a 52-week low of $13.58 and a 52-week high of $72.59. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.47 and a quick ratio of 0.78.
Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, November 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.03). Carvana had a negative return on equity of 39.36% and a negative net margin of 5.01%. The company had revenue of $535.00 million for the quarter, compared to analysts’ expectations of $509.09 million. During the same quarter last year, the business posted ($0.29) EPS. The business’s quarterly revenue was up 137.8% on a year-over-year basis. On average, research analysts expect that Carvana will post -1.5 EPS for the current year.
In other news, major shareholder Ernest C. Garcia II sold 69,977 shares of the firm’s stock in a transaction that occurred on Tuesday, October 16th. The shares were sold at an average price of $45.23, for a total value of $3,165,059.71. Following the completion of the transaction, the insider now directly owns 52,937,458 shares in the company, valued at $2,394,361,225.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ddfs Partnership Lp sold 896,542 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $64.93, for a total transaction of $58,212,472.06. The disclosure for this sale can be found here. Insiders have sold 2,748,686 shares of company stock valued at $164,026,447 in the last quarter. Company insiders own 21.69% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in Carvana by 13.0% during the third quarter. BlackRock Inc. now owns 2,099,988 shares of the company’s stock valued at $124,088,000 after purchasing an additional 241,002 shares during the last quarter. 683 Capital Management LLC lifted its position in Carvana by 11.4% during the second quarter. 683 Capital Management LLC now owns 1,561,634 shares of the company’s stock valued at $64,964,000 after purchasing an additional 160,294 shares during the last quarter. Sylebra HK Co Ltd lifted its position in Carvana by 8.7% during the second quarter. Sylebra HK Co Ltd now owns 1,415,133 shares of the company’s stock valued at $58,870,000 after purchasing an additional 112,720 shares during the last quarter. Frontier Capital Management Co. LLC bought a new stake in Carvana during the second quarter valued at approximately $43,726,000. Finally, Whale Rock Capital Management LLC bought a new stake in Carvana during the second quarter valued at approximately $35,039,000. Institutional investors own 25.96% of the company’s stock.
Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying used cars in the United States. The company purchases, reconditions, sells, and delivers vehicles. Its platform allows customers to research and identify a vehicle; inspect it using company's proprietary 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up.
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