JPMorgan Chase & Co. Increases Carvana (NYSE:CVNA) Price Target to $155.00

Carvana (NYSE:CVNA) had its target price hoisted by JPMorgan Chase & Co. from $150.00 to $155.00 in a research report report published on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also commented on CVNA. William Blair reiterated an outperform rating on shares of Carvana in a report on Thursday, May 2nd. TD Cowen upped their price target on Carvana from $58.00 to $70.00 and gave the stock a hold rating in a report on Monday, April 29th. Wedbush reiterated a neutral rating and set a $120.00 price target on shares of Carvana in a report on Wednesday, June 26th. Evercore ISI upped their price target on Carvana from $135.00 to $140.00 and gave the stock an in-line rating in a report on Tuesday, July 16th. Finally, BTIG Research initiated coverage on Carvana in a report on Friday, July 12th. They set a buy rating and a $155.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $100.93.

Carvana Stock Performance

CVNA opened at $130.06 on Friday. The business has a 50 day moving average price of $117.60 and a 200 day moving average price of $86.83. Carvana has a twelve month low of $25.09 and a twelve month high of $147.25. The firm has a market cap of $26.35 billion, a P/E ratio of 57.04 and a beta of 3.37.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.35. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $2.72 billion. As a group, analysts anticipate that Carvana will post -0.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In other Carvana news, COO Benjamin E. Huston sold 18,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $115.07, for a total value of $2,071,260.00. Following the sale, the chief operating officer now directly owns 213,548 shares in the company, valued at $24,572,968.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Carvana news, VP Stephen R. Palmer sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $85.71, for a total value of $428,550.00. Following the sale, the vice president now directly owns 56,872 shares in the company, valued at $4,874,499.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Benjamin E. Huston sold 18,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $115.07, for a total value of $2,071,260.00. Following the completion of the sale, the chief operating officer now owns 213,548 shares in the company, valued at $24,572,968.36. The disclosure for this sale can be found here. Insiders have sold 2,376,446 shares of company stock worth $274,746,431 over the last three months. Company insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Large investors have recently made changes to their positions in the business. Blue Trust Inc. bought a new stake in shares of Carvana during the fourth quarter worth $29,000. Parallel Advisors LLC grew its holdings in shares of Carvana by 39.0% during the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares during the last quarter. Tidemark LLC bought a new stake in shares of Carvana during the fourth quarter worth $50,000. Plato Investment Management Ltd bought a new stake in shares of Carvana during the first quarter worth $55,000. Finally, GAMMA Investing LLC grew its holdings in shares of Carvana by 127.9% during the second quarter. GAMMA Investing LLC now owns 458 shares of the company’s stock worth $59,000 after purchasing an additional 257 shares during the last quarter. Institutional investors 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.