Carvana (NYSE:CVNA) Price Target Increased to $65.00 by Analysts at Robert W. Baird

Carvana (NYSE:CVNA) had its price objective increased by Robert W. Baird from $60.00 to $65.00 in a report issued on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages have also weighed in on CVNA. Royal Bank of Canada upgraded shares of Carvana from an underperform rating to a sector perform rating and upped their target price for the stock from $45.00 to $90.00 in a research report on Friday, March 8th. Morgan Stanley upped their target price on shares of Carvana from $32.00 to $45.00 and gave the stock an underweight rating in a research report on Monday, February 26th. Wedbush upped their target price on shares of Carvana from $40.00 to $50.00 and gave the stock a neutral rating in a research report on Tuesday, February 20th. JPMorgan Chase & Co. upped their target price on shares of Carvana from $65.00 to $70.00 and gave the stock a neutral rating in a research report on Thursday. Finally, William Blair upgraded shares of Carvana from a market perform rating to an outperform rating in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $53.87.

Carvana Stock Up 0.3 %

Shares of Carvana stock opened at $71.39 on Friday. Carvana has a 52-week low of $6.70 and a 52-week high of $94.04. The company’s 50-day simple moving average is $75.21 and its 200-day simple moving average is $52.34. The firm has a market cap of $14.41 billion, a price-to-earnings ratio of 132.21 and a beta of 3.32.

Carvana (NYSE:CVNA) last issued its quarterly 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 firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter last year, the business posted ($0.97) EPS. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. Equities research analysts anticipate that Carvana will post -3.4 EPS for the current year.

Insider Activity at Carvana

In related news, CEO Ernest C. Garcia III sold 9,390 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $82.83, for a total transaction of $777,773.70. Following the transaction, the chief executive officer now owns 861,458 shares of the company’s stock, valued at $71,354,566.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Benjamin E. Huston sold 9,296 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $82.92, for a total transaction of $770,824.32. Following the completion of the transaction, the chief operating officer now owns 178,885 shares of the company’s stock, valued at $14,833,144.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ernest C. Garcia III sold 9,390 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $82.83, for a total transaction of $777,773.70. Following the transaction, the chief executive officer now directly owns 861,458 shares of the company’s stock, valued at approximately $71,354,566.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 187,883 shares of company stock valued at $15,505,178. Company insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Several institutional investors and hedge funds have recently bought and sold shares of CVNA. Blue Trust Inc. acquired a new position in Carvana during the fourth quarter worth approximately $29,000. Captrust Financial Advisors increased its position in shares of Carvana by 270.9% in 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 in the last quarter. Hanseatic Management Services Inc. acquired a new stake in shares of Carvana in the third quarter worth $34,000. Parallel Advisors LLC increased its position in shares of Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after acquiring an additional 194 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its position in shares of Carvana by 14,831.6% in the fourth quarter. Meeder Asset Management Inc. now owns 8,511 shares of the company’s stock worth $40,000 after acquiring an additional 8,454 shares in the last quarter. Institutional investors and hedge funds 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.