Carvana (NYSE:CVNA) Coverage Initiated at Gordon Haskett

Stock analysts at Gordon Haskett initiated coverage on shares of Carvana (NYSE:CVNA - Get Free Report) in a research report issued on Monday,Briefing.com Automated Import reports. The firm set a "hold" rating and a $329.00 price target on the stock. Gordon Haskett's price objective points to a potential downside of 6.40% from the stock's previous close.

Several other research analysts have also recently weighed in on the company. Wedbush upgraded Carvana to a "hold" rating in a research report on Thursday, May 8th. Piper Sandler set a $340.00 price objective on Carvana and gave the company an "overweight" rating in a research report on Thursday, May 22nd. Morgan Stanley boosted their price objective on Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. Royal Bank Of Canada boosted their price objective on Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. cut their price objective on Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Carvana has a consensus rating of "Moderate Buy" and an average price target of $305.00.

Carvana Price Performance

Shares of NYSE:CVNA opened at $351.50 on Monday. Carvana has a twelve month low of $118.50 and a twelve month high of $364.00. The company's 50 day moving average is $315.96 and its 200 day moving average is $252.86. The company has a current ratio of 3.81, a quick ratio of 2.70 and a debt-to-equity ratio of 2.97. The company has a market cap of $75.27 billion, a PE ratio of 124.27, a price-to-earnings-growth ratio of 1.34 and a beta of 3.59.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.76. The company had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $3.94 billion. Carvana had a return on equity of 44.86% and a net margin of 2.68%. Carvana's quarterly revenue was up 38.3% on a year-over-year basis. During the same period last year, the business earned $0.23 earnings per share. On average, sell-side analysts forecast that Carvana will post 2.85 EPS for the current year.

Insiders Place Their Bets

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $352.36, for a total transaction of $35,236,000.00. Following the completion of the sale, the insider directly owned 36,237,346 shares of the company's stock, valued at approximately $12,768,591,236.56. This trade represents a 0.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel J. Gill sold 7,100 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $350.00, for a total value of $2,485,000.00. Following the completion of the sale, the insider directly owned 197,832 shares of the company's stock, valued at $69,241,200. This represents a 3.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,626,961 shares of company stock valued at $531,064,642. 16.36% of the stock is owned by company insiders.

Hedge Funds Weigh In On Carvana

Several hedge funds have recently bought and sold shares of the company. Brooklyn Investment Group increased its position in Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after buying an additional 125 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in Carvana during the first quarter worth $33,000. Transce3nd LLC purchased a new position in Carvana during the fourth quarter worth $48,000. Geneos Wealth Management Inc. increased its position in Carvana by 251.4% during the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company's stock worth $53,000 after buying an additional 181 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Carvana by 39.4% during the first quarter. Versant Capital Management Inc now owns 290 shares of the company's stock worth $61,000 after purchasing an additional 82 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

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.

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