Carvana (NYSE:CVNA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Carvana (NYSE:CVNA) had its target price hoisted by stock analysts at JPMorgan Chase & Co. from $350.00 to $365.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 93.96% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird raised their target price on shares of Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Citigroup lifted their target price on shares of Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Stephens restated an “overweight” rating and set a $300.00 price target on shares of Carvana in a research note on Monday, March 3rd. JMP Securities reiterated a “market outperform” rating and set a $320.00 price objective on shares of Carvana in a research note on Monday, December 16th. Finally, Royal Bank of Canada upped their target price on Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Carvana has a consensus rating of “Moderate Buy” and an average target price of $265.94.

Carvana Price Performance

NYSE CVNA opened at $188.19 on Friday. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The firm’s 50 day moving average price is $231.41 and its 200-day moving average price is $213.28. Carvana has a 52-week low of $67.61 and a 52-week high of $292.84. The company has a market cap of $40.11 billion, a PE ratio of 119.86 and a beta of 3.56.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. Sell-side analysts forecast that Carvana will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, insider Paul W. Breaux sold 1,362 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the sale, the insider now directly owns 153,240 shares of the company’s stock, valued at approximately $41,387,059.20. This trade represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark W. Jenkins sold 28,422 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total value of $8,209,694.70. Following the completion of the sale, the chief financial officer now owns 219,962 shares of the company’s stock, valued at $63,536,023.70. This trade represents a 11.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,629 shares of company stock valued at $30,866,419. 17.18% of the stock is owned by insiders.

Institutional Investors Weigh In On Carvana

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Carvana in the third quarter valued at about $377,000. QRG Capital Management Inc. lifted its position in shares of Carvana by 16.2% in the third quarter. QRG Capital Management Inc. now owns 6,713 shares of the company’s stock valued at $1,169,000 after acquiring an additional 935 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Carvana in the third quarter valued at approximately $40,000. Sigma Planning Corp purchased a new position in shares of Carvana in the third quarter valued at approximately $228,000. Finally, Axxcess Wealth Management LLC purchased a new position in shares of Carvana in the third quarter valued at approximately $784,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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 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.