Carvana (NYSE:CVNA) Stock Rating Reaffirmed by Wedbush

Carvana (NYSE:CVNA)‘s stock had its “neutral” rating restated by research analysts at Wedbush in a report issued on Thursday, Benzinga reports. They presently have a $80.00 price target on the stock, up from their prior price target of $60.00. Wedbush’s target price would suggest a potential upside of 6.28% from the stock’s previous close.

A number of other analysts have also commented on CVNA. William Blair raised Carvana from a “market perform” rating to an “outperform” rating in a research note on Friday, February 23rd. Morgan Stanley boosted their price objective on Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a report on Monday, February 26th. Jefferies Financial Group raised Carvana from an “underperform” rating to a “hold” rating and lifted their target price for the company from $30.00 to $85.00 in a research report on Tuesday, March 12th. JPMorgan Chase & Co. lifted their target price on Carvana from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, April 18th. Finally, Evercore ISI cut their target price on Carvana from $78.00 to $77.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $55.87.

Carvana Stock Down 0.5 %

NYSE:CVNA opened at $75.27 on Thursday. The stock’s 50-day simple moving average is $76.43 and its 200 day simple moving average is $53.22. The firm has a market capitalization of $15.20 billion, a PE ratio of 139.39 and a beta of 3.32. Carvana has a twelve month low of $6.70 and a twelve month high of $94.04.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share 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 analyst estimates of $2.56 billion. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.97) earnings per share. On average, analysts anticipate that Carvana will post -3.36 EPS for the current fiscal year.

Insider Activity

In other news, insider Paul W. Breaux sold 15,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the transaction, the insider now owns 150,126 shares of the company’s stock, valued at approximately $10,358,694. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Paul W. Breaux sold 15,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the transaction, the insider now owns 150,126 shares of the company’s stock, valued at approximately $10,358,694. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ernest C. Garcia II sold 50,000 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $80.13, for a total value of $4,006,500.00. Following the transaction, the insider now directly owns 3,312,500 shares in the company, valued at approximately $265,430,625. The disclosure for this sale can be found here. Insiders have sold 187,883 shares of company stock valued at $15,505,178 in the last 90 days. Insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. bought a new stake in shares of Carvana during the 4th quarter valued at $29,000. Vanguard Group Inc. increased its stake in Carvana by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock worth $393,268,000 after acquiring an additional 62,820 shares during the last quarter. Quantbot Technologies LP bought a new position in Carvana in the 3rd quarter worth about $2,879,000. Charles Schwab Investment Management Inc. increased its stake in Carvana by 56.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock worth $32,684,000 after acquiring an additional 280,851 shares during the last quarter. Finally, TD Asset Management Inc bought a new position in Carvana in the 3rd quarter worth about $22,906,000. 56.71% 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 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.