Carvana (NYSE:CVNA) PT Raised to $75.00

Carvana (NYSE:CVNA) had its price objective increased by Wedbush from $70.00 to $75.00 in a research report report published on Thursday morning, Stock Target Advisor reports. Wedbush currently has a neutral rating on the stock. Wedbush also issued estimates for Carvana’s FY2021 earnings at ($0.74) EPS and FY2022 earnings at ($0.68) EPS.

Other analysts also recently issued reports about the company. Barrington Research reiterated a hold rating on shares of Carvana in a research note on Monday, August 5th. BMO Capital Markets increased their target price on Carvana from $65.00 to $68.00 and gave the company a market perform rating in a research note on Thursday, August 8th. JMP Securities increased their target price on Carvana from $64.00 to $80.00 and gave the company an outperform rating in a research note on Thursday, August 8th. Oppenheimer began coverage on Carvana in a research note on Thursday, September 19th. They set an outperform rating and a $95.00 target price on the stock. Finally, Wells Fargo & Co reiterated a buy rating and set a $95.00 target price on shares of Carvana in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $79.40.

CVNA traded up $4.84 during trading on Thursday, hitting $77.96. 1,733,233 shares of the company’s stock traded hands, compared to its average volume of 1,693,685. The company’s 50 day simple moving average is $74.12 and its two-hundred day simple moving average is $70.02. The company has a current ratio of 3.83, a quick ratio of 1.40 and a debt-to-equity ratio of 2.10. Carvana has a 12-month low of $28.44 and a 12-month high of $85.97. The stock has a market capitalization of $11.00 billion, a price-to-earnings ratio of -45.06 and a beta of 2.20.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, November 6th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.17). Carvana had a negative net margin of 3.49% and a negative return on equity of 30.55%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $997.46 million. During the same quarter in the prior year, the business posted ($0.40) earnings per share. The business’s revenue for the quarter was up 104.7% on a year-over-year basis. On average, equities analysts expect that Carvana will post -1.82 EPS for the current year.

In other news, Director Ira J. Platt sold 10,700 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $84.51, for a total value of $904,257.00. Following the transaction, the director now directly owns 33,082 shares in the company, valued at approximately $2,795,759.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul W. Breaux sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $80.04, for a total value of $1,600,800.00. Following the completion of the transaction, the insider now owns 30,497 shares in the company, valued at $2,440,979.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,000 shares of company stock worth $8,004,447. Company insiders own 13.02% of the company’s stock.

A number of institutional investors have recently made changes to their positions in CVNA. Vanguard Group Inc. raised its holdings in Carvana by 28.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,859,649 shares of the company’s stock worth $241,576,000 after purchasing an additional 846,994 shares during the period. Balyasny Asset Management LLC raised its holdings in Carvana by 39.7% in the 2nd quarter. Balyasny Asset Management LLC now owns 591,518 shares of the company’s stock worth $37,023,000 after purchasing an additional 168,212 shares during the period. Nuveen Asset Management LLC bought a new position in Carvana in the 2nd quarter worth $9,013,000. Wells Fargo & Company MN raised its holdings in Carvana by 123.5% in the 2nd quarter. Wells Fargo & Company MN now owns 249,525 shares of the company’s stock worth $15,617,000 after purchasing an additional 137,863 shares during the period. Finally, Bank of America Corp DE raised its holdings in Carvana by 221.3% in the 2nd quarter. Bank of America Corp DE now owns 191,341 shares of the company’s stock worth $11,976,000 after purchasing an additional 131,795 shares during the period. 37.06% of the stock is currently owned by 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 proprietary 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.

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Analyst Recommendations for Carvana (NYSE:CVNA)

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