Carvana Co. (NYSE:CVNA) Given Consensus Rating of “Moderate Buy” by Analysts

Carvana Co. (NYSE:CVNA) has earned a consensus rating of “Moderate Buy” from the eighteen analysts that are currently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $268.59.

Several brokerages recently commented on CVNA. DA Davidson boosted their price objective on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Piper Sandler upped their price target on shares of Carvana from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, April 22nd. Royal Bank of Canada boosted their target price on Carvana from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Thursday. Citigroup upped their target price on Carvana from $280.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Evercore ISI dropped their price target on Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a research report on Tuesday, March 11th.

Insider Buying and Selling at Carvana

In other news, CFO Mark W. Jenkins sold 28,422 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total value of $8,209,694.70. Following the completion of the transaction, the chief financial officer now owns 219,962 shares of the company’s stock, valued at approximately $63,536,023.70. This represents a 11.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Benjamin E. Huston sold 10,000 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $253.56, for a total transaction of $2,535,600.00. Following the sale, the chief operating officer now owns 139,294 shares in the company, valued at approximately $35,319,386.64. This trade represents a 6.70 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 348,560 shares of company stock valued at $73,806,520. 17.12% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Carvana

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Carvana by 9.7% in the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock worth $2,620,785,000 after purchasing an additional 1,109,476 shares during the last quarter. Lingotto Investment Management LLP increased its holdings in Carvana by 1.5% in the 4th quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock worth $810,827,000 after buying an additional 57,215 shares in the last quarter. Durable Capital Partners LP raised its position in Carvana by 6.3% in the 4th quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company’s stock worth $440,932,000 after buying an additional 129,246 shares during the last quarter. Geode Capital Management LLC lifted its stake in Carvana by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company’s stock valued at $381,592,000 after acquiring an additional 75,250 shares during the period. Finally, Whale Rock Capital Management LLC boosted its holdings in shares of Carvana by 29.8% during the 4th quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company’s stock valued at $247,017,000 after acquiring an additional 278,760 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Trading Down 6.0 %

Shares of CVNA stock opened at $268.27 on Friday. Carvana has a 1 year low of $97.55 and a 1 year high of $293.62. The company’s fifty day simple moving average is $209.94 and its two-hundred day simple moving average is $227.00. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The stock has a market capitalization of $57.19 billion, a price-to-earnings ratio of 170.87 and a beta of 3.61.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.76. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter in the prior year, the firm posted $0.23 EPS. The firm’s quarterly revenue was up 38.3% on a year-over-year basis. As a group, analysts anticipate that Carvana will post 2.85 earnings per share for the current year.

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.