Carvana (NYSE:CVNA) PT Raised to $110.00

Carvana (NYSE:CVNA) had its price objective increased by equities researchers at Robert W. Baird from $65.00 to $110.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 26.19% from the company’s current price.

Other research analysts have also issued research reports about the company. Wedbush reissued a “neutral” rating and issued a $80.00 target price (up previously from $60.00) on shares of Carvana in a research report on Thursday, April 25th. 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. JPMorgan Chase & Co. upgraded Carvana from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $70.00 to $130.00 in a research note on Thursday. Raymond James raised Carvana from an “underperform” rating to a “market perform” rating in a research report on Friday, February 23rd. Finally, Evercore ISI reduced their price objective on Carvana from $78.00 to $77.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $63.31.

Carvana Stock Performance

Shares of NYSE CVNA opened at $87.17 on Thursday. Carvana has a fifty-two week low of $6.70 and a fifty-two week high of $94.04. The stock has a fifty day moving average of $78.71 and a 200-day moving average of $54.62. The stock has a market cap of $17.60 billion, a PE ratio of 161.43 and a beta of 3.28.

Carvana (NYSE:CVNA) last posted its earnings results on Thursday, February 22nd. The company reported ($1.00) EPS 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. During the same period last year, the firm posted ($0.97) EPS. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, sell-side analysts predict that Carvana will post -3.32 EPS for the current year.

Insider Activity at Carvana

In related news, insider Paul W. Breaux sold 20,000 shares of Carvana stock in a transaction on Friday, March 8th. The stock was sold at an average price of $89.00, for a total transaction of $1,780,000.00. Following the transaction, the insider now directly owns 115,032 shares in the company, valued at $10,237,848. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Ernest C. Garcia III sold 9,390 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $82.83, for a total value of $777,773.70. Following the transaction, the chief executive officer now directly owns 861,458 shares in the company, valued at $71,354,566.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul W. Breaux sold 20,000 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $89.00, for a total value of $1,780,000.00. Following the completion of the transaction, the insider now owns 115,032 shares in the company, valued at $10,237,848. The disclosure for this sale can be found here. Over the last three months, insiders have sold 287,883 shares of company stock worth $23,778,678. Corporate insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Large investors have recently made changes to their positions in the business. Blue Trust Inc. purchased a new position in shares of Carvana in the fourth quarter valued at about $29,000. Parallel Advisors LLC increased its holdings in shares of Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares during the last quarter. Hanseatic Management Services Inc. bought a new stake in shares of Carvana in the third quarter worth about $34,000. Tidemark LLC bought a new stake in shares of Carvana in the fourth quarter worth about $50,000. Finally, Harvest Fund Management Co. Ltd increased its holdings in shares of Carvana by 1,225.6% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company’s stock worth $50,000 after purchasing an additional 1,103 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

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.