Carvana (NYSE:CVNA) Price Target Increased to $148.00 by Analysts at TD Cowen

Carvana (NYSE:CVNA) had its price target raised by TD Cowen from $110.00 to $148.00 in a research note released on Thursday, Benzinga reports. They currently have a hold rating on the stock.

A number of other analysts have also recently commented on the company. William Blair reiterated an outperform rating on shares of Carvana in a research report on Thursday, May 2nd. JMP Securities restated a market outperform rating and issued a $150.00 price target on shares of Carvana in a research report on Wednesday, July 10th. Wells Fargo & Company raised Carvana from an equal weight rating to an overweight rating and boosted their price target for the stock from $77.00 to $175.00 in a research note on Thursday. Royal Bank of Canada boosted their price target on Carvana from $90.00 to $130.00 and gave the stock a sector perform rating in a research note on Thursday, May 2nd. Finally, Evercore ISI boosted their price target on Carvana from $135.00 to $140.00 and gave the stock an in-line rating in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Carvana has an average rating of Hold and an average target price of $140.27.

Carvana Stock Performance

NYSE CVNA traded down $6.31 during trading on Thursday, reaching $140.21. 2,730,477 shares of the company’s stock were exchanged, compared to its average volume of 5,520,010. The stock has a market cap of $28.40 billion, a P/E ratio of 60.52 and a beta of 3.37. The company has a 50 day moving average price of $119.99 and a two-hundred day moving average price of $91.51. Carvana has a 1 year low of $25.09 and a 1 year high of $154.00.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, May 1st. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.35. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.72 billion. Research analysts forecast that Carvana will post -0.71 EPS for the current fiscal year.

Insider Activity at Carvana

In other news, insider Daniel J. Gill sold 26,930 shares of Carvana stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $125.08, for a total transaction of $3,368,404.40. Following the sale, the insider now directly owns 382,497 shares of the company’s stock, valued at $47,842,724.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $125.43, for a total value of $9,407,250.00. Following the completion of the transaction, the insider now directly owns 2,917,500 shares in the company, valued at $365,942,025. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel J. Gill sold 26,930 shares of Carvana stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $125.08, for a total value of $3,368,404.40. Following the completion of the transaction, the insider now owns 382,497 shares of the company’s stock, valued at $47,842,724.76. The disclosure for this sale can be found here. In the last three months, insiders sold 2,512,096 shares of company stock worth $303,420,439. Corporate insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Carvana by 2.7% during the first quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock valued at $904,642,000 after buying an additional 266,972 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Carvana by 39.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock valued at $655,727,000 after buying an additional 2,112,463 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Carvana by 17.1% during the fourth quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock valued at $78,560,000 after buying an additional 216,893 shares during the last quarter. Goodnow Investment Group LLC raised its holdings in shares of Carvana by 1.6% during the fourth quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock valued at $77,532,000 after buying an additional 23,140 shares during the last quarter. Finally, Steadview Capital Management LLC raised its holdings in shares of Carvana by 15.6% during the fourth quarter. Steadview Capital Management LLC now owns 876,905 shares of the company’s stock valued at $46,423,000 after buying an additional 118,500 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.