Carvana (NYSE:CVNA) Stock Rating Reaffirmed by JMP Securities

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

CVNA has been the topic of a number of other research reports. Jefferies Financial Group upgraded shares of Carvana from an “underperform” rating to a “hold” rating and lifted their price target for the company from $30.00 to $85.00 in a report on Tuesday, March 12th. Royal Bank of Canada upgraded Carvana from an “underperform” rating to a “sector perform” rating and lifted their target price for the company from $45.00 to $90.00 in a report on Friday, March 8th. Morgan Stanley upped their price target on Carvana from $32.00 to $45.00 and gave the stock an “underweight” rating in a research note on Monday, February 26th. Evercore ISI decreased their target price on Carvana from $78.00 to $77.00 and set an “in-line” rating for the company in a report on Tuesday. Finally, William Blair raised 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, eleven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Carvana has an average rating of “Hold” and a consensus target price of $52.53.

Carvana Stock Up 2.8 %

Shares of Carvana stock opened at $71.10 on Wednesday. Carvana has a fifty-two week low of $6.70 and a fifty-two week high of $94.04. The business’s fifty day moving average is $74.84 and its two-hundred day moving average is $52.12. The firm has a market cap of $14.36 billion, a PE ratio of 131.67 and a beta of 3.32.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. Carvana’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period last year, the business earned ($0.97) EPS. Equities research analysts anticipate that Carvana will post -3.4 EPS for the current year.

Insider Activity

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CVNA. Blue Trust Inc. bought a new stake in shares of Carvana in the 4th quarter worth about $29,000. Captrust Financial Advisors increased its holdings in Carvana by 270.9% in the second quarter. Captrust Financial Advisors now owns 1,324 shares of the company’s stock valued at $30,000 after buying an additional 967 shares during the last quarter. Hanseatic Management Services Inc. acquired a new stake in Carvana during the third quarter valued at approximately $34,000. Parallel Advisors LLC grew its position in shares of Carvana by 39.0% in the 4th 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. grew its position in shares of Carvana by 14,831.6% in the 4th 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. 56.71% of the stock is currently owned by institutional investors.

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.