Carvana (NYSE:CVNA) Price Target Raised to $110.00 at Robert W. Baird

Carvana (NYSE:CVNA) had its price target upped by Robert W. Baird from $65.00 to $110.00 in a research report report published on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts have also recently weighed in on CVNA. Jefferies Financial Group upgraded shares of Carvana from an underperform rating to a hold rating and raised their price objective for the company from $30.00 to $85.00 in a research report on Tuesday, March 12th. Morgan Stanley raised their price target on shares of Carvana from $32.00 to $45.00 and gave the company an underweight rating in a report on Monday, February 26th. William Blair raised Carvana from a market perform rating to an outperform rating in a report on Friday, February 23rd. Raymond James upgraded Carvana from an underperform rating to a market perform rating in a research report on Friday, February 23rd. Finally, Needham & Company LLC restated a hold rating on shares of Carvana in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $73.44.

Carvana Price Performance

NYSE CVNA opened at $121.67 on Thursday. The stock’s 50 day simple moving average is $81.81 and its 200 day simple moving average is $56.03. Carvana has a one year low of $6.92 and a one year high of $124.20. The firm has a market cap of $24.57 billion, a PE ratio of 53.36 and a beta of 3.28.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) 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 the consensus estimate of $2.56 billion. During the same quarter in the prior year, the company posted ($0.97) earnings per share. The business’s quarterly revenue was down 14.6% on a year-over-year basis. As a group, equities analysts expect that Carvana will post -3.05 earnings per share for the current year.

Insider Transactions at Carvana

In related news, insider Paul W. Breaux sold 15,000 shares of the firm’s stock in a transaction 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 owns 150,126 shares of the company’s stock, 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 related news, CFO Mark W. Jenkins sold 55,000 shares of Carvana stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $86.76, for a total value of $4,771,800.00. Following the sale, the chief financial officer now owns 178,156 shares of the company’s stock, valued at approximately $15,456,814.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul W. Breaux sold 15,000 shares of the company’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 value of $1,035,000.00. Following the transaction, 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. Insiders have sold a total of 442,233 shares of company stock valued at $38,200,169 over the last three months. 17.12% of the stock is currently owned by corporate insiders.

Institutional Trading of Carvana

A number of institutional investors have recently made changes to their positions in the business. Blue Trust Inc. bought a new position in Carvana in the fourth quarter valued at $29,000. Vanguard Group Inc. boosted its stake in shares of Carvana by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock worth $393,268,000 after buying an additional 62,820 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Carvana in the 3rd quarter valued at about $2,879,000. Charles Schwab Investment Management Inc. increased its position in shares of Carvana by 56.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock valued at $32,684,000 after acquiring an additional 280,851 shares during the last quarter. Finally, TD Asset Management Inc bought a new stake in Carvana during the third quarter worth about $22,906,000. 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.