Carvana (NYSE:CVNA) Given New $67.00 Price Target at BNP Paribas Exane

Key Points

• BNP Paribas Exane lowered Carvana’s price target from $69 to $67 and maintained a “neutral” rating, implying 2.19% downside from the prior close.
• Analyst sentiment remains mixed: Carvana has a “Moderate Buy” consensus rating and an average price target of $81.91, with targets ranging from $48 to $100 among recent analysts.
• Carvana’s latest quarter showed strong revenue growth of 42.4% to $8.04 billion, but earnings per share of $0.39 missed the $0.44 consensus estimate, reflecting weaker profitability per vehicle.

Carvana (NYSE:CVNA - Get Free Report) had its price objective decreased by equities researchers at BNP Paribas Exane from $69.00 to $67.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. BNP Paribas Exane's price objective would indicate a potential downside of 2.19% from the stock's previous close.

CVNA has been the subject of a number of other research reports. DA Davidson reiterated a "neutral" rating and set a $67.00 price objective on shares of Carvana in a research report on Thursday. Needham & Company LLC cut their target price on Carvana from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday. Hovde Group upped their target price on Carvana from $39.50 to $48.00 and gave the company a "market perform" rating in a report on Tuesday, August 4th. Evercore set a $75.00 price target on Carvana in a research report on Thursday, July 30th. Finally, BTIG Research set a $82.00 price target on Carvana and gave the stock a "buy" rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $81.91.

Carvana Price Performance

NYSE:CVNA traded up $9.45 during mid-day trading on Thursday, reaching $68.50. 14,718,238 shares of the stock were exchanged, compared to its average volume of 12,999,243. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94. The business has a fifty day moving average price of $65.89 and a 200 day moving average price of $69.64. Carvana has a 1-year low of $54.46 and a 1-year high of $97.38. The firm has a market capitalization of $75.38 billion, a PE ratio of 37.84, a PEG ratio of 1.71 and a beta of 3.55.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.05). Carvana had a net margin of 6.26% and a return on equity of 37.06%. The business had revenue of $8.04 billion during the quarter, compared to analyst estimates of $7.71 billion. During the same period in the previous year, the company posted $1.03 earnings per share. Carvana's revenue was up 42.4% compared to the same quarter last year. Research analysts expect that Carvana will post 1.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In other Carvana news, COO Benjamin Huston sold 50,000 shares of Carvana stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $71.55, for a total transaction of $3,577,500.00. Following the transaction, the chief operating officer owned 478,693 shares of the company's stock, valued at $34,250,484.15. The trade was a 9.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark W. Jenkins sold 63,750 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $64.50, for a total value of $4,111,875.00. Following the completion of the transaction, the chief financial officer owned 1,156,534 shares in the company, valued at $74,596,443. This represents a 5.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 358,161 shares of company stock valued at $24,164,285 in the last ninety days. Company insiders own 15.19% of the company's stock.

Institutional Investors Weigh In On Carvana

A number of institutional investors have recently modified their holdings of the stock. State Street Corp boosted its holdings in shares of Carvana by 417.1% during the 2nd quarter. State Street Corp now owns 29,435,364 shares of the company's stock worth $1,937,436,000 after buying an additional 23,742,422 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Carvana by 345.8% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,237 shares of the company's stock worth $218,867,000 after purchasing an additional 2,579,295 shares during the last quarter. Amundi lifted its position in shares of Carvana by 379.7% during the 2nd quarter. Amundi now owns 2,421,045 shares of the company's stock worth $159,353,000 after purchasing an additional 1,916,349 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Carvana by 384.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,898,095 shares of the company's stock valued at $124,933,000 after purchasing an additional 1,506,145 shares during the period. Finally, Bank of America Corp DE boosted its stake in Carvana by 372.0% during the 2nd quarter. Bank of America Corp DE now owns 1,791,844 shares of the company's stock valued at $117,939,000 after purchasing an additional 1,412,188 shares during the period. Institutional investors and hedge funds own 56.71% of the company's stock.

Trending Headlines about Carvana

Here are the key news stories impacting Carvana this week:

• Positive Sentiment: Record operating performance: Carvana reported third-quarter revenue of $8.04 billion, up 42.4% year over year, and sold 217,385 retail units—nearly 40% more than a year earlier. The company also reported $289 million in profit. Carvana Profit Soars as Vehicle Sales Climb Nearly 40%
• Positive Sentiment: Revenue beat expectations: Sales exceeded the roughly $7.71 billion analyst consensus, reinforcing the view that strong demand for used vehicles is supporting Carvana’s growth. Carvana Beats Revenue Estimates
• Positive Sentiment: Improving financial profile: Management highlighted positive free cash flow and net debt at its best level in nearly five years. It also reiterated ambitious long-term goals of three million annual retail units and a 12.5% operating margin by 2030–2035. Carvana Continues to Improve
• Neutral Sentiment: Mixed analyst view: Needham maintained a “buy” rating while lowering its price target from $120 to $100, implying substantial potential upside. DA Davidson reaffirmed a “neutral” rating with a $67 target, slightly below the current trading level. Needham Price Target Update
• Negative Sentiment: Profitability missed estimates: Adjusted earnings were $0.39 per share, below consensus estimates near $0.44–$0.47. Lower gross profit per unit and weaker wholesale-related profitability tempered the otherwise strong quarter. Carvana Misses Q3 Earnings Estimates

Carvana Company Profile

Carvana Co NYSE: CVNA is an online automotive retailer that sells used vehicles through its digital platform. Customers can browse vehicles, review detailed descriptions and vehicle history information, arrange financing, complete transactions online and choose home delivery or pickup at a Carvana location.

The company also provides vehicle trade-in services and offers related products, including vehicle protection plans and other automotive services. Carvana is known for its automated, glass-enclosed vehicle vending machines, which provide an alternative pickup experience in select markets.

Founded in 2012 and headquartered in Tempe, Arizona, Carvana began operations as an online used-car retailer in 2013 and went public in 2017.

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