Analysts Set Carvana Co. (NYSE:CVNA) Price Target at $265.06

Carvana Co. (NYSE:CVNA) has received a consensus recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $265.06.

A number of research firms recently weighed in on CVNA. Royal Bank of Canada boosted their target price on Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. boosted their price objective on shares of Carvana from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Robert W. Baird upped their price objective on shares of Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Citigroup lifted their target price on shares of Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $110.00 to $260.00 in a research report on Tuesday, November 5th.

Carvana Price Performance

CVNA stock opened at $232.08 on Monday. The firm has a 50 day moving average of $232.88 and a 200-day moving average of $210.17. The firm has a market capitalization of $48.19 billion, a P/E ratio of 147.82 and a beta of 3.37. Carvana has a 12 month low of $67.61 and a 12 month high of $292.84. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. As a group, sell-side analysts predict that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Transactions at Carvana

In related news, insider Daniel J. Gill sold 44,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total value of $11,416,680.00. Following the transaction, the insider now directly owns 191,225 shares of the company’s stock, valued at approximately $49,617,150.75. This trade represents a 18.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul W. Breaux sold 1,362 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $270.08, for a total value of $367,848.96. Following the sale, the insider now directly owns 153,240 shares of the company’s stock, valued at $41,387,059.20. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 173,629 shares of company stock worth $44,833,799 in the last 90 days. 17.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Carvana

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Carvana by 90.8% in the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after purchasing an additional 5,882,656 shares in the last quarter. Whale Rock Capital Management LLC bought a new position in Carvana in the 3rd quarter worth $162,953,000. Norges Bank purchased a new stake in Carvana in the 4th quarter worth $179,364,000. Vanguard Group Inc. raised its holdings in Carvana by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock valued at $2,323,463,000 after acquiring an additional 610,234 shares during the period. Finally, Castle Hook Partners LP purchased a new position in shares of Carvana in the fourth quarter valued at about $116,020,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

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.