Gordon Haskett Lowers Carvana (NYSE:CVNA) Price Target to $335.00

Carvana (NYSE:CVNAGet Free Report) had its price objective reduced by equities research analysts at Gordon Haskett from $350.00 to $335.00 in a research report issued on Monday,MarketScreener reports. The firm currently has a “hold” rating on the stock. Gordon Haskett’s price objective indicates a potential upside of 8.81% from the stock’s current price.

CVNA has been the topic of several other research reports. UBS Group set a $485.00 target price on Carvana in a research note on Friday, February 20th. Argus raised Carvana to a “strong-buy” rating in a report on Tuesday, March 3rd. William Blair reiterated an “outperform” rating on shares of Carvana in a report on Friday, March 13th. BTIG Research reduced their target price on shares of Carvana from $535.00 to $455.00 and set a “buy” rating for the company in a report on Thursday, February 19th. Finally, Weiss Ratings cut shares of Carvana from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $437.18.

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Carvana Price Performance

CVNA opened at $307.88 on Monday. The stock has a market cap of $67.38 billion, a P/E ratio of 38.43 and a beta of 3.61. Carvana has a 12 month low of $171.78 and a 12 month high of $486.89. The company has a quick ratio of 2.73, a current ratio of 4.31 and a debt-to-equity ratio of 1.15. The company has a fifty day simple moving average of $339.79 and a 200 day simple moving average of $371.48.

Shares of Carvana are going to split before the market opens on Thursday, May 7th. The 5-1 split was announced on Friday, March 13th. The newly issued shares will be payable to shareholders after the closing bell on Wednesday, May 6th.

Carvana (NYSE:CVNAGet Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $4.22 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $3.12. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.24 billion. Carvana had a net margin of 6.92% and a return on equity of 50.96%. The firm’s quarterly revenue was up 58.0% on a year-over-year basis. During the same period last year, the business posted $0.56 earnings per share. On average, research analysts expect that Carvana will post 2.85 EPS for the current year.

Insider Activity

In other Carvana news, Director J Danforth Quayle sold 2,900 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $309.97, for a total transaction of $898,913.00. Following the sale, the director directly owned 41,913 shares in the company, valued at $12,991,772.61. This represents a 6.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Thomas Taira sold 1,174 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $447.00, for a total transaction of $524,778.00. Following the transaction, the insider owned 68,252 shares of the company’s stock, valued at approximately $30,508,644. This represents a 1.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 53,574 shares of company stock worth $19,259,412. 17.12% of the stock is currently owned by insiders.

Institutional Trading of Carvana

Institutional investors have recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Carvana in the 4th quarter valued at about $29,000. Farmers & Merchants Investments Inc. bought a new position in shares of Carvana in the fourth quarter valued at $29,000. Motiv8 Investments LLC acquired a new stake in shares of Carvana in the 4th quarter worth about $33,000. Salomon & Ludwin LLC lifted its position in Carvana by 112.5% in the 4th quarter. Salomon & Ludwin LLC now owns 85 shares of the company’s stock valued at $37,000 after acquiring an additional 45 shares in the last quarter. Finally, ORG Partners LLC boosted its stake in Carvana by 8,700.0% during the 3rd quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after purchasing an additional 87 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

More Carvana News

Here are the key news stories impacting Carvana this week:

Carvana Company Profile

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Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.

Further Reading

Analyst Recommendations for Carvana (NYSE:CVNA)

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