Carvana (NYSE:CVNA) Price Target Raised to $320.00

Carvana (NYSE:CVNA) had its target price increased by Royal Bank of Canada from $280.00 to $320.00 in a research report report published on Thursday morning, Marketbeat.com reports. The firm currently has an outperform rating on the stock.

A number of other analysts also recently issued reports on CVNA. Evercore ISI raised their price target on shares of Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a report on Tuesday, December 3rd. Needham & Company LLC raised their target price on shares of Carvana from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of Carvana from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Piper Sandler increased their price target on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Robert W. Baird lifted their price objective on Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $265.06.

Carvana Price Performance

Shares of NYSE CVNA opened at $223.14 on Thursday. The firm has a market cap of $46.33 billion, a P/E ratio of 142.13 and a beta of 3.37. Carvana has a twelve month low of $49.38 and a twelve month high of $292.84. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The company has a 50 day moving average of $234.35 and a 200 day moving average of $208.28.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. As a group, research analysts expect that Carvana will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Daniel J. Gill sold 44,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total value of $11,416,680.00. Following the transaction, the insider now directly owns 191,225 shares of the company’s stock, valued at approximately $49,617,150.75. The trade was a 18.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark W. Jenkins sold 28,422 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the sale, the chief financial officer now directly owns 219,962 shares of the company’s stock, valued at approximately $63,536,023.70. This trade represents a 11.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 173,629 shares of company stock worth $44,833,799 over the last three months. 17.12% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Carvana

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quent Capital LLC purchased a new stake in Carvana in the 4th quarter worth $28,000. Global Retirement Partners LLC lifted its position in shares of Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after buying an additional 78 shares in the last quarter. Rialto Wealth Management LLC bought a new position in Carvana during the fourth quarter valued at approximately $31,000. ORG Wealth Partners LLC purchased a new position in Carvana during the 4th quarter valued at approximately $34,000. Finally, Capital Performance Advisors LLP bought a new stake in Carvana in the 3rd quarter worth approximately $40,000. Institutional investors own 56.71% of the company’s stock.

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.