Carvana (NYSE:CVNA) PT Raised to $65.00

Carvana (NYSE:CVNA) had its target price hoisted by Robert W. Baird from $60.00 to $65.00 in a research note issued to investors on Friday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

CVNA has been the subject of a number of other research reports. Evercore ISI cut their price target on shares of Carvana from $78.00 to $77.00 and set an in-line rating for the company in a research note on Tuesday, April 16th. Morgan Stanley raised their target price on Carvana from $32.00 to $45.00 and gave the stock an underweight rating in a research report on Monday, February 26th. Jefferies Financial Group raised Carvana from an underperform rating to a hold rating and boosted their price target for the company from $30.00 to $85.00 in a research note on Tuesday, March 12th. JMP Securities reiterated a market outperform rating and set a $80.00 price objective on shares of Carvana in a research note on Wednesday, April 17th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Carvana from $65.00 to $70.00 and gave the company a neutral rating in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Carvana currently has a consensus rating of Hold and a consensus price target of $53.87.

Carvana Trading Up 0.1 %

CVNA opened at $71.44 on Friday. The business has a 50 day moving average of $75.53 and a 200-day moving average of $52.80. The stock has a market capitalization of $14.42 billion, a price-to-earnings ratio of 132.30 and a beta of 3.32. Carvana has a 1-year low of $6.70 and a 1-year high of $94.04.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter last year, the company earned ($0.97) EPS. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. Equities analysts predict that Carvana will post -3.4 EPS for the current year.

Insider Activity at Carvana

In other Carvana news, COO Benjamin E. Huston sold 9,296 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $82.92, for a total transaction of $770,824.32. Following the transaction, the chief operating officer now owns 178,885 shares of the company’s stock, valued at approximately $14,833,144.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Mark W. Jenkins sold 55,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 178,156 shares of the company’s stock, valued at $15,456,814.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Benjamin E. Huston sold 9,296 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $82.92, for a total transaction of $770,824.32. Following the completion of the transaction, the chief operating officer now directly owns 178,885 shares in the company, valued at $14,833,144.20. The disclosure for this sale can be found here. Insiders sold a total of 187,883 shares of company stock valued at $15,505,178 over the last quarter. Corporate insiders own 17.18% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Morgan Stanley increased its holdings in Carvana by 13.8% in the third quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock valued at $619,478,000 after purchasing an additional 1,784,009 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Carvana by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after buying an additional 655,603 shares during the period. FMR LLC grew its position in shares of Carvana by 0.5% during the 3rd quarter. FMR LLC now owns 4,696,510 shares of the company’s stock worth $197,160,000 after buying an additional 24,560 shares during the period. First Trust Advisors LP increased its stake in shares of Carvana by 17.1% in the 4th quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock valued at $78,560,000 after acquiring an additional 216,893 shares during the last quarter. Finally, Goodnow Investment Group LLC raised its position in shares of Carvana by 1.6% in the 4th quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock valued at $77,532,000 after acquiring an additional 23,140 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Company Profile

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.