Carvana (NYSE:CVNA) Price Target Raised to $295.00

Carvana (NYSE:CVNA) had its price target hoisted by Bank of America from $290.00 to $295.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Carvana from $290.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. decreased their price objective on Carvana from $365.00 to $325.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Stephens reissued an “overweight” rating and set a $300.00 target price on shares of Carvana in a research note on Monday, March 3rd. JMP Securities decreased their price target on Carvana from $340.00 to $275.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 9th. Finally, Needham & Company LLC reissued a “buy” rating and set a $340.00 price objective on shares of Carvana in a research report on Thursday. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $268.59.

Carvana Price Performance

CVNA stock opened at $268.27 on Thursday. Carvana has a 1 year low of $97.55 and a 1 year high of $293.62. 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 firm has a market capitalization of $57.19 billion, a PE ratio of 170.87 and a beta of 3.61. The business has a 50 day simple moving average of $209.94 and a 200-day simple moving average of $227.21.

Carvana (NYSE:CVNA) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $3.94 billion. During the same period last year, the company earned $0.23 EPS. The company’s revenue for the quarter was up 38.3% on a year-over-year basis. Equities research analysts anticipate that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Transactions at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 43,433 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $209.27, for a total value of $9,089,223.91. Following the sale, the chief financial officer now directly owns 214,678 shares of the company’s stock, valued at approximately $44,925,665.06. This represents a 16.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the completion of the sale, the chief operating officer now owns 196,278 shares in the company, valued at $35,033,660.22. The trade was a 20.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 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.

Hedge Funds Weigh In On Carvana

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in shares of Carvana by 28.9% during the 4th quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock worth $159,000 after acquiring an additional 176 shares in the last quarter. Nordea Investment Management AB acquired a new stake in Carvana during the fourth quarter worth approximately $1,743,000. Diversified Trust Co boosted its holdings in shares of Carvana by 123.4% in the 4th quarter. Diversified Trust Co now owns 4,848 shares of the company’s stock valued at $986,000 after buying an additional 2,678 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in shares of Carvana in the 4th quarter valued at $34,000. Finally, Oak Thistle LLC raised its stake in Carvana by 115.9% during the 4th quarter. Oak Thistle LLC now owns 3,238 shares of the company’s stock worth $658,000 after acquiring an additional 1,738 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Company Profile

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.