Needham & Company LLC began coverage on shares of Carvana (NYSE:CVNA) in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $105.00 target price on the stock.

CVNA has been the topic of several other reports. JMP Securities raised their price objective on Carvana from $64.00 to $80.00 and gave the company an outperform rating in a report on Thursday, August 8th. ValuEngine lowered Carvana from a buy rating to a hold rating in a report on Thursday, August 1st. Bank of America reissued a buy rating and issued a $86.00 price objective (up from $82.00) on shares of Carvana in a report on Thursday, August 8th. Zacks Investment Research lowered Carvana from a hold rating to a sell rating in a report on Tuesday, July 9th. Finally, BMO Capital Markets raised their price objective on Carvana from $65.00 to $68.00 and gave the company a market perform rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $76.25.

Carvana stock opened at $80.28 on Thursday. The firm has a market cap of $12.15 billion, a price-to-earnings ratio of -46.40 and a beta of 2.24. Carvana has a 52 week low of $28.44 and a 52 week high of $85.07. The business’s 50-day moving average price is $75.37 and its 200 day moving average price is $64.68. The company has a quick ratio of 1.40, a current ratio of 3.83 and a debt-to-equity ratio of 2.10.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, August 7th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.01). Carvana had a negative return on equity of 30.55% and a negative net margin of 3.49%. The company had revenue of $986.22 million for the quarter, compared to analyst estimates of $914.50 million. During the same period last year, the business earned ($0.37) earnings per share. The firm’s revenue was up 107.5% on a year-over-year basis. Equities analysts expect that Carvana will post -1.81 EPS for the current year.

In other news, insider Daniel J. Gill sold 12,500 shares of Carvana stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $67.65, for a total value of $845,625.00. Following the sale, the insider now directly owns 10,683 shares of the company’s stock, valued at $722,704.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan S. Keeton sold 28,930 shares of Carvana stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $71.18, for a total value of $2,059,237.40. Following the completion of the sale, the insider now directly owns 45,547 shares in the company, valued at $3,242,035.46. The disclosure for this sale can be found here. Insiders sold 189,861 shares of company stock worth $14,527,351 over the last ninety days. Corporate insiders own 13.02% of the company’s stock.

Large investors have recently modified their holdings of the company. FNY Investment Advisers LLC lifted its position in Carvana by 12,800.0% during the second quarter. FNY Investment Advisers LLC now owns 1,290 shares of the company’s stock worth $80,000 after buying an additional 1,280 shares in the last quarter. Meridian Wealth Management LLC purchased a new position in Carvana during the second quarter worth approximately $118,000. Gamco Investors INC. ET AL purchased a new position in Carvana during the first quarter worth approximately $656,000. Advisor Group Inc. lifted its position in Carvana by 993.4% during the first quarter. Advisor Group Inc. now owns 17,342 shares of the company’s stock worth $1,006,000 after buying an additional 15,756 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in Carvana by 1.4% during the first quarter. First Trust Advisors LP now owns 201,433 shares of the company’s stock worth $11,695,000 after buying an additional 2,815 shares in the last quarter. 37.05% of the stock is currently 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 proprietary 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.

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Analyst Recommendations for Carvana (NYSE:CVNA)

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