Carvana (NYSE:CVNA) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Carvana (NYSE:CVNA) had its price target increased by research analysts at Robert W. Baird from $160.00 to $240.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 4.80% from the company’s current price.

A number of other research firms have also recently weighed in on CVNA. Stephens began coverage on shares of Carvana in a research report on Thursday, September 12th. They set an “overweight” rating and a $190.00 price objective for the company. Piper Sandler increased their target price on Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Citigroup lifted their price target on Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Evercore ISI upped their price objective on shares of Carvana from $186.00 to $190.00 and gave the company an “in-line” rating in a research note on Wednesday. Finally, Morgan Stanley boosted their target price on Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $208.88.

Carvana Stock Performance

Shares of NYSE CVNA opened at $229.01 on Thursday. Carvana has a 1 year low of $27.75 and a 1 year high of $259.39. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. The company’s fifty day moving average price is $174.33 and its 200 day moving average price is $137.76. The company has a market capitalization of $47.39 billion, a PE ratio of 22,901.00 and a beta of 3.44.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. The business’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 EPS. On average, research analysts predict that Carvana will post 0.26 earnings per share for the current year.

Insider Activity at Carvana

In other Carvana news, COO Benjamin E. Huston sold 3,043 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $240.00, for a total value of $730,320.00. Following the completion of the transaction, the chief operating officer now owns 218,686 shares of the company’s stock, valued at $52,484,640. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, COO Benjamin E. Huston sold 3,043 shares of Carvana stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $240.00, for a total transaction of $730,320.00. Following the completion of the sale, the chief operating officer now directly owns 218,686 shares of the company’s stock, valued at approximately $52,484,640. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $148.68, for a total value of $14,868,000.00. Following the completion of the transaction, the insider now directly owns 690,814 shares in the company, valued at $102,710,225.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,738,934 shares of company stock worth $463,538,905. Corporate insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Carvana by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock worth $904,642,000 after buying an additional 266,972 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Carvana by 39.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock valued at $655,727,000 after acquiring an additional 2,112,463 shares during the last quarter. Lingotto Investment Management LLP increased its position in shares of Carvana by 1.4% during the second quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock worth $486,143,000 after purchasing an additional 52,833 shares in the last quarter. Renaissance Technologies LLC increased its position in Carvana by 12.2% during the second quarter. Renaissance Technologies LLC now owns 813,400 shares of the company’s stock worth $104,701,000 after buying an additional 88,500 shares during the period. Finally, Driehaus Capital Management LLC lifted its stake in Carvana by 124.9% in the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after buying an additional 323,153 shares during the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

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.