Carvana (NYSE:CVNA) PT Raised to $65.00

Carvana (NYSE:CVNA) had its price objective hoisted by Robert W. Baird from $60.00 to $65.00 in a report published on Friday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts also recently commented on CVNA. JPMorgan Chase & Co. boosted their price objective on shares of Carvana from $65.00 to $70.00 and gave the company a neutral rating in a research report on Thursday. Wedbush boosted their price objective on shares of Carvana from $40.00 to $50.00 and gave the company a neutral rating in a research report on Tuesday, February 20th. Jefferies Financial Group raised shares of Carvana from an underperform rating to a hold rating and boosted their price objective for the company from $30.00 to $85.00 in a research report on Tuesday, March 12th. Royal Bank of Canada raised shares of Carvana from an underperform rating to a sector perform rating and boosted their price objective for the company from $45.00 to $90.00 in a research report on Friday, March 8th. Finally, JMP Securities reaffirmed a market outperform rating and set a $80.00 price objective on shares of Carvana in a research report on Wednesday. One analyst has rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Carvana has an average rating of Hold and an average target price of $53.87.

Carvana Price Performance

CVNA stock opened at $71.39 on Friday. Carvana has a 52-week low of $6.70 and a 52-week high of $94.04. The company’s 50 day simple moving average is $75.21 and its 200-day simple moving average is $52.34. The firm has a market capitalization of $14.41 billion, a P/E ratio of 132.21 and a beta of 3.32.

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

Insider Transactions at Carvana

In other news, Director Neha Parikh acquired 1,300 shares of Carvana stock in a transaction dated Friday, March 1st. The stock was acquired at an average cost of $77.00 per share, for a total transaction of $100,100.00. Following the completion of the purchase, the director now owns 58,495 shares of the company’s stock, valued at $4,504,115. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Mark W. Jenkins sold 55,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $86.76, for a total transaction of $4,771,800.00. Following the completion of the transaction, the chief financial officer now directly owns 178,156 shares in the company, valued at approximately $15,456,814.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Neha Parikh acquired 1,300 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were bought at an average cost of $77.00 per share, for a total transaction of $100,100.00. Following the acquisition, the director now owns 58,495 shares in the company, valued at $4,504,115. The disclosure for this purchase can be found here. Over the last three months, insiders sold 187,883 shares of company stock worth $15,505,178. 17.12% of the stock is owned by insiders.

Institutional Investors Weigh In On Carvana

A number of hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its holdings in Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after acquiring an additional 194 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Carvana by 1.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,160 shares of the company’s stock worth $697,000 after acquiring an additional 249 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Carvana by 17.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,929 shares of the company’s stock worth $230,000 after acquiring an additional 280 shares during the last quarter. Diversified Trust Co grew its holdings in Carvana by 6.0% during the 4th quarter. Diversified Trust Co now owns 5,659 shares of the company’s stock worth $300,000 after acquiring an additional 319 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its stake in shares of Carvana by 5.6% in the 4th quarter. Corient Private Wealth LLC now owns 6,713 shares of the company’s stock valued at $355,000 after purchasing an additional 358 shares during the last quarter. 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.