Carvana (NYSE:CVNA) Price Target Raised to $340.00

Carvana (NYSE:CVNA) had its target price upped by Needham & Company LLC from $330.00 to $340.00 in a report published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently weighed in on CVNA. JMP Securities restated a “market outperform” rating and set a $320.00 price objective on shares of Carvana in a report on Monday, December 16th. Wells Fargo & Company dropped their price target on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Stephens reissued an “overweight” rating and set a $300.00 price objective on shares of Carvana in a report on Thursday, February 6th. Royal Bank of Canada raised Carvana from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $270.00 to $280.00 in a research note on Tuesday, January 7th. Finally, Citigroup upgraded Carvana from a “neutral” rating to a “buy” rating and upped their price target for the stock from $195.00 to $277.00 in a report on Wednesday, January 8th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $265.06.

Carvana Price Performance

CVNA stock opened at $223.14 on Thursday. Carvana has a 1 year low of $49.38 and a 1 year high of $292.84. The stock has a market capitalization of $46.33 billion, a PE ratio of 142.13 and a beta of 3.37. The company’s 50-day moving average is $234.35 and its 200-day moving average is $208.28. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. Equities research analysts expect that Carvana will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling at Carvana

In other Carvana news, insider Daniel J. Gill sold 44,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the sale, the insider now directly owns 191,225 shares of the company’s stock, valued at $49,617,150.75. This represents a 18.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark W. Jenkins sold 28,422 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the transaction, the chief financial officer now owns 219,962 shares of the company’s stock, valued at $63,536,023.70. This represents a 11.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 173,629 shares of company stock worth $44,833,799 over the last three months. 17.12% of the stock is currently owned by insiders.

Institutional Trading of Carvana

A number of institutional investors have recently modified their holdings of CVNA. Raymond James & Associates grew its stake in Carvana by 28.8% in the 3rd quarter. Raymond James & Associates now owns 13,577 shares of the company’s stock valued at $2,364,000 after buying an additional 3,033 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Carvana by 2.9% in the third quarter. Sequoia Financial Advisors LLC now owns 6,122 shares of the company’s stock worth $1,066,000 after acquiring an additional 175 shares during the period. Signaturefd LLC grew its position in shares of Carvana by 30.9% in the third quarter. Signaturefd LLC now owns 1,842 shares of the company’s stock valued at $321,000 after purchasing an additional 435 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of Carvana by 16.7% during the 3rd quarter. Private Advisor Group LLC now owns 30,514 shares of the company’s stock valued at $5,313,000 after purchasing an additional 4,372 shares during the period. Finally, Lecap Asset Management Ltd. purchased a new stake in Carvana during the 3rd quarter worth about $1,443,000. 56.71% of the stock is currently owned by hedge funds and other 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.