Carvana (NYSE:CVNA) Price Target Raised to $260.00

Carvana (NYSE:CVNA) had its price objective hoisted by DA Davidson from $220.00 to $260.00 in a research note released on Thursday morning,Benzinga reports. DA Davidson currently has a neutral rating on the stock.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada lifted their price objective on shares of Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Thursday. Wedbush reiterated a “neutral” rating and set a $250.00 price objective on shares of Carvana in a report on Thursday, February 6th. Robert W. Baird lifted their price objective on shares of Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday. Wells Fargo & Company reduced their price objective on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Finally, JMP Securities reiterated a “market outperform” rating and set a $320.00 price objective on shares of Carvana in a report on Monday, December 16th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $265.06.

Carvana Trading Down 9.9 %

NYSE:CVNA opened at $223.14 on Thursday. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The stock has a market capitalization of $46.33 billion, a price-to-earnings ratio of 142.13 and a beta of 3.37. The firm has a fifty day simple moving average of $234.35 and a two-hundred day simple moving average of $208.28. Carvana has a 12 month low of $49.38 and a 12 month high of $292.84.

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

Insider Buying and Selling at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $255.07, for a total transaction of $2,550,700.00. Following the completion of the sale, the chief financial officer now owns 189,761 shares of the company’s stock, valued at $48,402,338.27. This represents a 5.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Daniel J. Gill sold 44,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the sale, the insider now directly owns 191,225 shares of the company’s stock, valued at $49,617,150.75. The trade was a 18.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 173,629 shares of company stock valued at $44,833,799 in the last quarter. Company insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Carvana by 90.8% in the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after purchasing an additional 5,882,656 shares during the period. Vanguard Group Inc. lifted its position in shares of Carvana by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock worth $2,323,463,000 after purchasing an additional 610,234 shares during the period. Lingotto Investment Management LLP lifted its position in shares of Carvana by 1.5% in the 4th quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock worth $810,827,000 after purchasing an additional 57,215 shares during the period. Durable Capital Partners LP lifted its position in shares of Carvana by 6.3% in the 4th quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company’s stock worth $440,932,000 after purchasing an additional 129,246 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Carvana by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company’s stock worth $381,592,000 after purchasing an additional 75,250 shares during the period. Hedge funds and other 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.