Carvana (NYSE:CVNA) Given a $440.00 Price Target at JMP Securities

JMP Securities set a $440.00 target price on Carvana (NYSE:CVNA) in a research note issued to investors on Wednesday morning, Marketbeat.com reports. The firm currently has a market outperform rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Evercore ISI lifted their price objective on shares of Carvana from $295.00 to $305.00 and gave the company an “in-line” rating in a report on Tuesday, June 24th. Wall Street Zen downgraded shares of Carvana from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st. Bank of America raised their target price on shares of Carvana from $325.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, June 10th. JPMorgan Chase & Co. cut their target price on shares of Carvana from $365.00 to $325.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Finally, Morgan Stanley raised their target price on shares of Carvana from $280.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, May 15th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $293.88.

Carvana Trading Up 1.5%

Shares of CVNA opened at $348.51 on Wednesday. Carvana has a 1-year low of $118.50 and a 1-year high of $351.43. The company has a 50-day moving average of $305.85 and a 200 day moving average of $248.20. The firm has a market capitalization of $74.63 billion, a price-to-earnings ratio of 122.28, a PEG ratio of 1.36 and a beta of 3.59. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.76. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter last year, the business posted $0.23 EPS. The firm’s revenue for the quarter was up 38.3% on a year-over-year basis. On average, research analysts expect that Carvana will post 2.85 EPS for the current year.

Insider Activity

In other news, CFO Mark W. Jenkins sold 51,380 shares of Carvana stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $326.03, for a total value of $16,751,421.40. Following the transaction, the chief financial officer owned 162,079 shares of the company’s stock, valued at $52,842,616.37. The trade was a 24.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel J. Gill sold 70,166 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $281.43, for a total transaction of $19,746,817.38. Following the sale, the insider directly owned 201,087 shares in the company, valued at approximately $56,591,914.41. This represents a 25.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,379,861 shares of company stock worth $434,528,045 in the last quarter. 17.12% of the stock is currently owned by corporate insiders.

Institutional Trading of Carvana

Several large investors have recently bought and sold shares of CVNA. IFP Advisors Inc grew its position in Carvana by 21.4% during the 4th quarter. IFP Advisors Inc now owns 550 shares of the company’s stock worth $112,000 after purchasing an additional 97 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in Carvana by 19.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 2,289 shares of the company’s stock worth $465,000 after purchasing an additional 374 shares during the last quarter. Metis Global Partners LLC purchased a new stake in Carvana during the 4th quarter worth approximately $321,000. Smartleaf Asset Management LLC grew its position in Carvana by 80.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 576 shares of the company’s stock worth $121,000 after purchasing an additional 256 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in Carvana by 265.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,697 shares of the company’s stock worth $345,000 after purchasing an additional 1,233 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.