Carvana (NYSE:CVNA) Rating Reiterated by JMP Securities

Carvana (NYSE:CVNA)‘s stock had its “market outperform” rating restated by investment analysts at JMP Securities in a research note issued on Wednesday, Benzinga reports. They currently have a $80.00 price target on the stock. JMP Securities’ price target would suggest a potential upside of 12.52% from the stock’s previous close.

A number of other research analysts also recently weighed in on the stock. Raymond James upgraded shares of Carvana from an “underperform” rating to a “market perform” rating in a report on Friday, February 23rd. William Blair raised Carvana from a “market perform” rating to an “outperform” rating in a research report on Friday, February 23rd. Evercore ISI dropped their price objective on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating on the stock in a report on Tuesday. Morgan Stanley lifted their target price on Carvana from $32.00 to $45.00 and gave the stock an “underweight” rating in a research report on Monday, February 26th. Finally, Wedbush raised their price objective on Carvana from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $52.53.

Carvana Stock Performance

Shares of CVNA opened at $71.10 on Wednesday. The company has a market capitalization of $14.36 billion, a PE ratio of 131.67 and a beta of 3.32. The company’s 50 day moving average price is $74.84 and its 200 day moving average price is $52.12. Carvana has a 52 week low of $6.70 and a 52 week high of $94.04.

Carvana (NYSE:CVNA) last issued its earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the prior year, the business earned ($0.97) earnings per share. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. On average, equities analysts forecast that Carvana will post -3.4 earnings per share for the current fiscal year.

Insider Transactions at Carvana

In related news, insider Paul W. Breaux sold 15,000 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the completion of the transaction, the insider now owns 150,126 shares in the company, valued at $10,358,694. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Neha Parikh acquired 1,300 shares of the stock in a transaction dated Tuesday, March 5th. The shares were bought at an average cost of $76.68 per share, for a total transaction of $99,684.00. Following the purchase, the director now directly owns 59,795 shares of the company’s stock, valued at $4,585,080.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul W. Breaux sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $69.00, for a total value of $1,035,000.00. Following the transaction, the insider now directly owns 150,126 shares in the company, valued at $10,358,694. The disclosure for this sale can be found here. Insiders sold 187,883 shares of company stock valued at $15,505,178 in the last ninety days. 17.12% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Carvana

Large investors have recently made changes to their positions in the company. Blue Trust Inc. acquired a new stake in shares of Carvana during the fourth quarter worth $29,000. Captrust Financial Advisors increased its position in Carvana by 270.9% during the second quarter. Captrust Financial Advisors now owns 1,324 shares of the company’s stock worth $30,000 after acquiring an additional 967 shares during the period. Hanseatic Management Services Inc. acquired a new stake in Carvana in the 3rd quarter worth about $34,000. Parallel Advisors LLC boosted its holdings in Carvana by 39.0% in the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after purchasing an additional 194 shares during the period. Finally, Meeder Asset Management Inc. grew its position in shares of Carvana by 14,831.6% during the 4th quarter. Meeder Asset Management Inc. now owns 8,511 shares of the company’s stock worth $40,000 after purchasing an additional 8,454 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

About Carvana

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.