Carvana Co. (NYSE:CVNA) Receives $284.18 Consensus Target Price from Analysts

Shares of Carvana Co. (NYSE:CVNA - Get Free Report) have received an average rating of "Moderate Buy" from the eighteen ratings firms that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $284.18.

Several equities analysts have weighed in on the stock. Royal Bank Of Canada lifted their price objective on shares of Carvana from $320.00 to $340.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Needham & Company LLC reissued a "buy" rating and set a $340.00 price target on shares of Carvana in a research report on Thursday, May 8th. JMP Securities dropped their target price on Carvana from $340.00 to $275.00 and set a "market outperform" rating on the stock in a report on Wednesday, April 9th. Piper Sandler set a $340.00 price objective on shares of Carvana and gave the company an "overweight" rating in a research report on Thursday, May 22nd. Finally, Citigroup lifted their target price on shares of Carvana from $280.00 to $325.00 and gave the company a "buy" rating in a research note on Thursday, May 8th.

Carvana Price Performance

Shares of CVNA traded up $18.58 during mid-day trading on Friday, hitting $337.84. The company's stock had a trading volume of 4,569,446 shares, compared to its average volume of 3,864,880. Carvana has a fifty-two week low of $118.50 and a fifty-two week high of $351.43. The stock has a market capitalization of $72.35 billion, a price-to-earnings ratio of 118.54, a PEG ratio of 1.24 and a beta of 3.65. The firm has a 50-day moving average price of $293.50 and a 200 day moving average price of $244.97. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.76. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $3.94 billion. Carvana had a return on equity of 44.86% and a net margin of 2.68%. Carvana's revenue for the quarter was up 38.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 earnings per share. On average, research analysts predict that Carvana will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling at Carvana

In related news, CEO Ernest C. Garcia III sold 10,000 shares of Carvana stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $325.11, for a total transaction of $3,251,100.00. Following the sale, the chief executive officer directly owned 716,440 shares of the company's stock, valued at $232,921,808.40. This trade represents a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 4,971 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $325.15, for a total value of $1,616,320.65. Following the completion of the sale, the insider owned 36,837,346 shares of the company's stock, valued at $11,977,663,051.90. This represents a 0.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,310,544 shares of company stock valued at $406,383,249 in the last ninety days. Company insiders own 16.36% of the company's stock.

Hedge Funds Weigh In On Carvana

A number of hedge funds have recently modified their holdings of CVNA. Price T Rowe Associates Inc. MD boosted its stake in shares of Carvana by 13.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock valued at $3,125,749,000 after purchasing an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. increased its holdings in Carvana by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock valued at $2,620,785,000 after purchasing an additional 1,109,476 shares in the last quarter. Norges Bank acquired a new position in Carvana in the fourth quarter worth $179,364,000. Castle Hook Partners LP acquired a new stake in shares of Carvana in the fourth quarter valued at $116,020,000. Finally, BNP Paribas Financial Markets lifted its position in Carvana by 89.8% during the 4th quarter. BNP Paribas Financial Markets now owns 1,018,321 shares of the company's stock worth $207,086,000 after buying an additional 481,912 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

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.