Carvana Co. (NYSE:CVNA) Receives $253.59 Consensus Price Target from Analysts

Carvana Co. (NYSE:CVNA) has earned an average recommendation of “Moderate Buy” from the eighteen brokerages that are covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $253.59.

A number of equities analysts have issued reports on CVNA shares. Royal Bank of Canada increased their price target on Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Robert W. Baird cut their price target on shares of Carvana from $250.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, April 4th. Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “overweight” rating in a research report on Monday, March 31st. Piper Sandler raised shares of Carvana from a “neutral” rating to an “overweight” rating in a research note on Monday, March 31st. Finally, Bank of America cut their price objective on Carvana from $270.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, March 14th.

Carvana Trading Down 7.4 %

Shares of NYSE:CVNA opened at $195.76 on Tuesday. The company has a market capitalization of $41.73 billion, a PE ratio of 124.69 and a beta of 3.61. Carvana has a 12-month low of $67.61 and a 12-month high of $292.84. The business has a 50 day moving average of $209.33 and a two-hundred day moving average of $221.92. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82.

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

Insider Activity

In other news, insider Paul W. Breaux sold 1,362 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were 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. The trade was a 0.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas Taira sold 27,593 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total transaction of $6,209,252.79. Following the transaction, the insider now directly owns 179,673 shares of the company’s stock, valued at $40,431,815.19. The trade was a 13.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 330,810 shares of company stock valued at $69,243,820 in the last 90 days. Company insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CVNA. Quent Capital LLC purchased a new position in Carvana during the 4th quarter valued at about $28,000. Global Retirement Partners LLC grew its holdings in shares of Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in Carvana during the 4th quarter worth approximately $31,000. ORG Wealth Partners LLC acquired a new stake in Carvana during the 4th quarter worth approximately $34,000. Finally, Versant Capital Management Inc purchased a new position in Carvana in the 4th quarter valued at approximately $42,000. 56.71% 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 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.