Carvana (NYSE:CVNA) Price Target Raised to $135.00

Carvana (NYSE:CVNA) had its target price upped by stock analysts at Evercore ISI from $118.00 to $135.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “in-line” rating on the stock. Evercore ISI’s target price suggests a potential upside of 10.66% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company increased their target price on shares of Carvana from $60.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. TD Cowen upped their target price on Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Wedbush reaffirmed a “neutral” rating and set a $120.00 price target on shares of Carvana in a research note on Wednesday, June 26th. William Blair reissued an “outperform” rating on shares of Carvana in a research note on Thursday, May 2nd. Finally, Royal Bank of Canada raised their price objective on shares of Carvana from $90.00 to $130.00 and gave the company a “sector perform” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Carvana has a consensus rating of “Hold” and a consensus target price of $88.50.

Carvana Stock Performance

NYSE:CVNA traded down $2.35 during trading hours on Tuesday, hitting $122.00. 700,103 shares of the company’s stock traded hands, compared to its average volume of 5,652,788. The stock’s fifty day moving average price is $108.80 and its two-hundred day moving average price is $79.21. The firm has a market cap of $24.71 billion, a P/E ratio of 53.51 and a beta of 3.37. Carvana has a twelve month low of $23.43 and a twelve month high of $136.92.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.35. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $2.72 billion. On average, equities research analysts predict that Carvana will post -0.75 earnings per share for the current year.

Insider Buying and Selling

In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $131.76, for a total value of $9,882,000.00. Following the completion of the transaction, the insider now owns 637,500 shares of the company’s stock, valued at approximately $83,997,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Carvana news, VP Stephen R. Palmer sold 5,000 shares of Carvana stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $85.71, for a total transaction of $428,550.00. Following the sale, the vice president now directly owns 56,872 shares of the company’s stock, valued at $4,874,499.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $131.76, for a total value of $9,882,000.00. Following the completion of the transaction, the insider now directly owns 637,500 shares of the company’s stock, valued at $83,997,000. The disclosure for this sale can be found here. Insiders have sold a total of 1,793,946 shares of company stock valued at $196,342,406 over the last three months. 17.18% of the stock is owned by corporate insiders.

Institutional Trading of Carvana

A number of large investors have recently bought and sold shares of CVNA. Vanguard Group Inc. grew its holdings in shares of Carvana by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after purchasing an additional 655,603 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Carvana by 6.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 831,879 shares of the company’s stock worth $44,040,000 after buying an additional 53,318 shares in the last quarter. Blue Trust Inc. bought a new position in shares of Carvana in the fourth quarter valued at approximately $29,000. Rafferty Asset Management LLC grew its position in Carvana by 38.6% during the 4th quarter. Rafferty Asset Management LLC now owns 43,792 shares of the company’s stock worth $2,318,000 after acquiring an additional 12,193 shares during the last quarter. Finally, Investmentaktiengesellschaft Fuer Langfristige Investoren TGV increased its holdings in Carvana by 17.6% during the 4th quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 500,000 shares of the company’s stock valued at $26,470,000 after purchasing an additional 75,000 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

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.