Carvana (NYSE:CVNA) Price Target Raised to $225.00 at Piper Sandler

Carvana (NYSE:CVNA) had its price target boosted by analysts at Piper Sandler from $151.00 to $225.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s target price suggests a potential downside of 1.75% from the company’s current price.

Other analysts have also recently issued reports about the stock. Needham & Company LLC upped their price target on shares of Carvana from $200.00 to $300.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank of Canada upgraded shares of Carvana to a “sector perform” rating and upped their target price for the company from $166.00 to $170.00 in a research note on Monday, August 19th. Wells Fargo & Company lifted their price target on Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. TD Cowen upped their price objective on Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, Citigroup lifted their target price on Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $208.88.

Carvana Stock Down 7.4 %

Shares of Carvana stock opened at $229.01 on Thursday. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02. Carvana has a 1-year low of $27.75 and a 1-year high of $259.39. The business has a 50-day moving average of $174.33 and a 200-day moving average of $137.76. The company has a market capitalization of $47.39 billion, a PE ratio of 22,901.00 and a beta of 3.44.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter last year, the business earned $0.23 EPS. Carvana’s revenue for the quarter was up 31.8% compared to the same quarter last year. As a group, equities analysts forecast that Carvana will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $148.68, for a total value of $14,868,000.00. Following the completion of the transaction, the insider now owns 690,814 shares in the company, valued at approximately $102,710,225.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $131.19, for a total value of $9,839,250.00. Following the completion of the sale, the insider now owns 1,090,814 shares of the company’s stock, valued at $143,103,888.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $148.68, for a total value of $14,868,000.00. Following the transaction, the insider now directly owns 690,814 shares of the company’s stock, valued at approximately $102,710,225.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,738,934 shares of company stock valued at $463,538,905 in the last quarter. Company insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its position in shares of Carvana by 39.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock valued at $655,727,000 after acquiring an additional 2,112,463 shares during the last quarter. Sylebra Capital LLC acquired a new stake in shares of Carvana during the second quarter worth $67,686,000. Senator Investment Group LP purchased a new stake in shares of Carvana during the second quarter valued at $63,767,000. Driehaus Capital Management LLC boosted its position in shares of Carvana by 124.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after purchasing an additional 323,153 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in Carvana in the 2nd quarter worth about $39,997,000. 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.