Robert W. Baird Increases Carvana (NYSE:CVNA) Price Target to $65.00

Carvana (NYSE:CVNA) had its price objective boosted by stock analysts at Robert W. Baird from $60.00 to $65.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price target would indicate a potential downside of 8.58% from the company’s previous close.

Other research analysts have also issued reports about the company. JMP Securities reaffirmed a “market outperform” rating and issued a $80.00 target price on shares of Carvana in a research report on Wednesday. William Blair raised Carvana from a “market perform” rating to an “outperform” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. increased their target price on Carvana from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday. Morgan Stanley increased their target price on Carvana from $32.00 to $45.00 and gave the stock an “underweight” rating in a research report on Monday, February 26th. Finally, Jefferies Financial Group upgraded Carvana from an “underperform” rating to a “hold” rating and increased their price target for the company from $30.00 to $85.00 in a report on Tuesday, March 12th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Carvana presently has a consensus rating of “Hold” and an average price target of $53.87.

Carvana Stock Up 2.8 %

Shares of Carvana stock opened at $71.10 on Friday. Carvana has a fifty-two week low of $6.70 and a fifty-two week high of $94.04. The firm has a market cap of $14.36 billion, a PE ratio of 131.67 and a beta of 3.32. The business’s fifty day moving average is $74.84 and its two-hundred day moving average is $52.12.

Carvana (NYSE:CVNA) last issued its earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.56 billion. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.97) earnings per share. Equities research analysts anticipate that Carvana will post -3.4 EPS for the current year.

Insider Activity

In other news, insider Paul W. Breaux sold 15,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the completion of the sale, the insider now directly owns 150,126 shares in the company, valued at $10,358,694. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Carvana news, insider Paul W. Breaux sold 15,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $69.00, for a total value of $1,035,000.00. Following the transaction, the insider now owns 150,126 shares of the company’s stock, valued at $10,358,694. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Neha Parikh bought 1,300 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was acquired at an average cost of $76.68 per share, for a total transaction of $99,684.00. Following the acquisition, the director now directly owns 59,795 shares of the company’s stock, valued at $4,585,080.60. The disclosure for this purchase can be found here. Insiders sold 187,883 shares of company stock worth $15,505,178 over the last ninety days. Corporate insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

A number of large investors have recently bought and sold shares of CVNA. US Bancorp DE lifted its holdings in Carvana by 248.0% in the first quarter. US Bancorp DE now owns 1,646 shares of the company’s stock worth $197,000 after acquiring an additional 1,173 shares during the last quarter. MetLife Investment Management LLC bought a new stake in shares of Carvana during the first quarter valued at approximately $603,000. Panagora Asset Management Inc. raised its holdings in shares of Carvana by 86.7% during the first quarter. Panagora Asset Management Inc. now owns 3,022 shares of the company’s stock valued at $360,000 after buying an additional 1,403 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Carvana by 2.4% during the first quarter. Great West Life Assurance Co. Can now owns 69,919 shares of the company’s stock valued at $8,842,000 after buying an additional 1,636 shares during the last quarter. Finally, Aviva PLC raised its holdings in shares of Carvana by 62.5% during the first quarter. Aviva PLC now owns 41,710 shares of the company’s stock valued at $4,976,000 after buying an additional 16,037 shares during the last quarter. 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.