Carvana (NYSE:CVNA) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Carvana (NYSE:CVNA) had its price objective boosted by stock analysts at Needham & Company LLC from $330.00 to $340.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 21.13% from the company’s current price.

A number of other equities research analysts have also recently commented on CVNA. Robert W. Baird increased their price objective on shares of Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday. Stephens reiterated an “overweight” rating and issued a $300.00 price target on shares of Carvana in a research report on Thursday, February 6th. Citigroup upgraded Carvana from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $195.00 to $277.00 in a research report on Wednesday, January 8th. Morgan Stanley upgraded Carvana from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $110.00 to $260.00 in a report on Tuesday, November 5th. Finally, Wells Fargo & Company cut their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $250.47.

Carvana Price Performance

Shares of NYSE:CVNA opened at $280.68 on Thursday. The firm has a market capitalization of $58.28 billion, a price-to-earnings ratio of 28,096.50 and a beta of 3.37. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The business’s 50 day simple moving average is $234.84 and its 200-day simple moving average is $206.90. Carvana has a 12 month low of $48.15 and a 12 month high of $292.84.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. As a group, equities analysts forecast that Carvana will post 0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, CFO Mark W. Jenkins sold 28,422 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the completion of the sale, the chief financial officer now directly owns 219,962 shares in the company, valued at $63,536,023.70. This represents a 11.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Daniel J. Gill sold 44,000 shares of Carvana stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $259.47, for a total value of $11,416,680.00. Following the completion of the transaction, the insider now directly owns 191,225 shares in the company, valued at $49,617,150.75. This represents a 18.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 173,629 shares of company stock valued at $44,833,799 over the last quarter. Company insiders own 17.18% of the company’s stock.

Hedge Funds Weigh In On Carvana

A number of hedge funds have recently made changes to their positions in the business. Fidelis Capital Partners LLC raised its position in Carvana by 3.4% in the fourth quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock valued at $313,000 after purchasing an additional 51 shares during the period. Bleakley Financial Group LLC raised its holdings in shares of Carvana by 2.8% during the 4th quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock valued at $483,000 after buying an additional 65 shares during the period. EverSource Wealth Advisors LLC lifted its position in Carvana by 21.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock worth $87,000 after acquiring an additional 74 shares in the last quarter. Forum Financial Management LP boosted its holdings in Carvana by 3.8% in the 3rd quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock worth $361,000 after acquiring an additional 76 shares during the period. Finally, Great Lakes Advisors LLC grew its position in Carvana by 2.1% in the fourth quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock valued at $752,000 after acquiring an additional 77 shares in the last quarter. Hedge funds and other 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.