Piper Sandler Raises Carvana (NYSE:CVNA) Price Target to $151.00

Carvana (NYSE:CVNA) had its price objective hoisted by Piper Sandler from $105.00 to $151.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities analysts also recently issued reports on the stock. JMP Securities reaffirmed a market outperform rating and set a $150.00 price objective on shares of Carvana in a report on Wednesday, July 10th. DA Davidson upped their target price on Carvana from $110.00 to $155.00 and gave the company a neutral rating in a report on Thursday. William Blair reissued an outperform rating on shares of Carvana in a research report on Thursday, May 2nd. JPMorgan Chase & Co. raised their price objective on shares of Carvana from $150.00 to $155.00 and gave the stock an overweight rating in a research report on Friday, July 19th. Finally, Wedbush reiterated a neutral rating and issued a $120.00 target price on shares of Carvana in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $143.60.

Carvana Price Performance

NYSE:CVNA opened at $137.20 on Thursday. The firm has a market cap of $27.79 billion, a price-to-earnings ratio of 60.18 and a beta of 3.37. The firm’s fifty day moving average is $120.56 and its two-hundred day moving average is $92.52. The company has a debt-to-equity ratio of 47.20, a quick ratio of 1.62 and a current ratio of 3.11. Carvana has a one year low of $25.09 and a one year high of $154.00.

Carvana (NYSE:CVNA) last released its quarterly earnings data 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 firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $2.72 billion. Research analysts expect that Carvana will post -0.71 EPS for the current year.

Insider Transactions at Carvana

In related news, insider Daniel J. Gill sold 26,930 shares of Carvana stock in a transaction on Monday, May 6th. The stock was 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 directly owns 382,497 shares in the company, valued at $47,842,724.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Daniel J. Gill sold 26,930 shares of the firm’s 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 sale, the insider now 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. Also, insider Daniel J. Gill sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $150.00, for a total transaction of $3,000,000.00. Following the transaction, the insider now owns 359,370 shares of the company’s stock, valued at approximately $53,905,500. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,537,096 shares of company stock valued at $307,151,139. 17.12% of the stock is currently owned by corporate insiders.

Institutional Trading of Carvana

A number of institutional investors have recently bought and sold shares of CVNA. SG Americas Securities LLC acquired a new stake in shares of Carvana during the 4th quarter worth about $117,000. Raymond James Financial Services Advisors Inc. increased its stake in Carvana by 2.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 55,669 shares of the company’s stock valued at $2,947,000 after purchasing an additional 1,125 shares during the last quarter. Blue Trust Inc. acquired a new stake in Carvana during the fourth quarter worth approximately $29,000. International Assets Investment Management LLC purchased a new stake in shares of Carvana during the 4th quarter worth approximately $5,610,000. Finally, Stratos Wealth Partners LTD. acquired a new position in shares of Carvana in the 4th quarter valued at $380,000. 56.71% of the stock is owned by hedge funds and other 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.