Carvana (NYSE:CVNA) Price Target Raised to $78.00 at Evercore ISI

Carvana (NYSE:CVNAFree Report) had its price objective raised by Evercore ISI from $75.00 to $78.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an in-line rating on the stock.

A number of other equities research analysts have also recently weighed in on CVNA. Raymond James upgraded Carvana from an underperform rating to a market perform rating in a research note on Friday, February 23rd. William Blair upgraded shares of Carvana from a market perform rating to an outperform rating in a research note on Friday, February 23rd. Wedbush lifted their target price on shares of Carvana from $40.00 to $50.00 and gave the stock a neutral rating in a report on Tuesday, February 20th. Jefferies Financial Group raised shares of Carvana from an underperform rating to a hold rating and increased their price target for the company from $30.00 to $85.00 in a report on Tuesday, March 12th. Finally, Royal Bank of Canada upgraded shares of Carvana from an underperform rating to a sector perform rating and raised their price objective for the stock from $45.00 to $90.00 in a research report on Friday, March 8th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Carvana presently has a consensus rating of Hold and a consensus target price of $50.60.

View Our Latest Analysis on Carvana

Carvana Price Performance

Shares of CVNA opened at $82.87 on Tuesday. The firm has a 50-day moving average of $66.92 and a 200-day moving average of $49.33. The company has a market cap of $16.73 billion, a PE ratio of 153.47 and a beta of 3.32. Carvana has a one year low of $6.70 and a one year high of $94.04.

Carvana (NYSE:CVNAGet Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period in the prior year, the firm earned ($0.97) EPS. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. Analysts expect that Carvana will post -3.4 earnings per share for the current year.

Insider Buying and Selling at Carvana

In related news, CFO Mark W. Jenkins sold 5,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $79.37, for a total transaction of $396,850.00. Following the completion of the sale, the chief financial officer now owns 183,156 shares of the company’s stock, valued at $14,537,091.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Mark W. Jenkins sold 5,000 shares of Carvana stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $79.37, for a total value of $396,850.00. Following the transaction, the chief financial officer now directly owns 183,156 shares of the company’s stock, valued at $14,537,091.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Neha Parikh bought 1,300 shares of the business’s stock in a transaction on Friday, March 1st. The shares were acquired at an average price of $77.00 per share, with a total value of $100,100.00. Following the completion of the purchase, the director now directly owns 58,495 shares of the company’s stock, valued at $4,504,115. The disclosure for this purchase can be found here. Insiders sold 55,000 shares of company stock valued at $4,396,850 in the last three months. Corporate insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Large investors have recently bought and sold shares of the business. Blue Trust Inc. bought a new stake in shares of Carvana during the fourth quarter worth $29,000. Captrust Financial Advisors raised its position in Carvana by 270.9% in the second quarter. Captrust Financial Advisors now owns 1,324 shares of the company’s stock valued at $30,000 after purchasing an additional 967 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in shares of Carvana during the second quarter valued at about $33,000. Hanseatic Management Services Inc. bought a new stake in shares of Carvana during the third quarter worth about $34,000. Finally, Parallel Advisors LLC increased its stake in shares of Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after buying an additional 194 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

About Carvana

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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.

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Analyst Recommendations for Carvana (NYSE:CVNA)

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