Citigroup Issues Pessimistic Forecast for Carvana (NYSE:CVNA) Stock Price

Carvana (NYSE:CVNA) had its target price reduced by Citigroup from $320.00 to $280.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 58.79% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Wedbush set a $250.00 price objective on Carvana and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Piper Sandler raised shares of Carvana from a “neutral” rating to an “overweight” rating in a report on Monday, March 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $340.00 target price on shares of Carvana in a research note on Friday, March 7th. William Blair reiterated an “outperform” rating on shares of Carvana in a report on Thursday, February 20th. Finally, DA Davidson raised their price target on shares of Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Carvana has an average rating of “Moderate Buy” and a consensus target price of $256.24.

Carvana Price Performance

CVNA traded up $8.46 on Tuesday, hitting $176.33. 9,863,227 shares of the company’s stock were exchanged, compared to its average volume of 4,846,555. The firm has a 50-day moving average price of $221.99 and a 200-day moving average price of $219.74. The stock has a market cap of $37.59 billion, a price-to-earnings ratio of 112.31 and a beta of 3.61. 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 has a fifty-two week low of $67.61 and a fifty-two week high of $292.84.

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

Insider Transactions at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $250.12, for a total value of $2,501,200.00. Following the sale, the chief financial officer now owns 219,962 shares of the company’s stock, valued at $55,016,895.44. This trade represents a 4.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Benjamin E. Huston sold 50,000 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the transaction, the chief operating officer now directly owns 196,278 shares of the company’s stock, valued at approximately $35,033,660.22. This represents a 20.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 280,810 shares of company stock valued at $61,698,820. 16.36% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CVNA. Fidelis Capital Partners LLC raised its holdings in shares of Carvana by 3.4% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock valued at $313,000 after purchasing an additional 51 shares in the last quarter. Bleakley Financial Group LLC raised its stake in Carvana by 2.8% in the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock valued at $483,000 after buying an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Carvana by 21.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock valued at $87,000 after buying an additional 74 shares in the last quarter. Great Lakes Advisors LLC lifted its holdings in Carvana by 2.1% during the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock worth $752,000 after buying an additional 77 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after acquiring an additional 78 shares in the last quarter. 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.