Carvana (NYSE:CVNA) PT Raised to $70.00

Carvana (NYSE:CVNA) had its price target boosted by TD Cowen from $58.00 to $70.00 in a research report released on Monday, Benzinga reports. The firm currently has a hold rating on the stock.

A number of other research firms have also recently issued reports on CVNA. Raymond James raised shares of Carvana from an underperform rating to a market perform rating in a research report on Friday, February 23rd. Royal Bank of Canada upgraded Carvana from an underperform rating to a sector perform rating and increased their target price for the stock from $45.00 to $90.00 in a report on Friday, March 8th. Robert W. Baird upped their price objective on shares of Carvana from $60.00 to $65.00 and gave the stock a neutral rating in a report on Friday, April 19th. William Blair upgraded shares of Carvana from a market perform rating to an outperform rating in a report on Friday, February 23rd. Finally, JMP Securities reaffirmed a market outperform rating and issued a $80.00 price target on shares of Carvana in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Carvana presently has an average rating of Hold and a consensus target price of $56.75.

Carvana Trading Up 5.1 %

Shares of Carvana stock opened at $87.17 on Monday. Carvana has a 1-year low of $6.70 and a 1-year high of $94.04. The business has a 50-day moving average price of $78.71 and a two-hundred day moving average price of $54.62. The company has a market cap of $17.60 billion, a P/E ratio of 161.43 and a beta of 3.32.

Carvana (NYSE:CVNA) last posted 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 business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter last year, the firm earned ($0.97) EPS. The business’s quarterly revenue was down 14.6% on a year-over-year basis. Equities research analysts forecast that Carvana will post -3.32 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Neha Parikh purchased 1,300 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was bought at an average price of $77.00 per share, for a total transaction of $100,100.00. Following the purchase, the director now directly owns 58,495 shares in the company, valued at approximately $4,504,115. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Paul W. Breaux sold 15,000 shares of Carvana stock in a transaction 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 completion of the transaction, the insider now directly owns 150,126 shares in the company, valued at $10,358,694. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Neha Parikh bought 1,300 shares of the business’s stock in a transaction on Friday, March 1st. The stock was bought at an average price of $77.00 per share, with a total value of $100,100.00. Following the purchase, the director now owns 58,495 shares in the company, valued at $4,504,115. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 287,883 shares of company stock valued at $23,778,678. Company insiders own 17.18% of the company’s stock.

Hedge Funds Weigh In On Carvana

A number of large investors have recently modified their holdings of the company. Sequoia Financial Advisors LLC grew its position in shares of Carvana by 11.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,687 shares of the company’s stock valued at $412,000 after purchasing an additional 500 shares in the last quarter. HB Wealth Management LLC bought a new stake in shares of Carvana during the 1st quarter valued at about $244,000. Principal Financial Group Inc. grew its holdings in shares of Carvana by 9.2% during the first quarter. Principal Financial Group Inc. now owns 12,702 shares of the company’s stock worth $1,117,000 after purchasing an additional 1,068 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in Carvana in the first quarter valued at approximately $357,000. Finally, Investmentaktiengesellschaft Fuer Langfristige Investoren TGV lifted its position in Carvana by 17.6% during the first quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 588,149 shares of the company’s stock valued at $51,704,000 after purchasing an additional 88,149 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors.

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.