Carvana (NYSE:CVNA) Earns "Buy" Rating from BTIG Research

Key Points

• Carvana's stock has received a "buy" rating from BTIG Research, with a target price of $450.00, indicating a potential upside of 25.06% from its previous close.
• The average consensus rating for Carvana is a "Moderate Buy," with a total of fourteen analysts issuing a Buy rating and a forecasted price target of $407.44.
• Carvana reported $1.28 earnings per share for the last quarter, beating the estimated $1.09 by $0.19, with quarterly revenue increasing 41.9% year-over-year.

Carvana (NYSE:CVNA - Get Free Report)'s stock had its "buy" rating restated by investment analysts at BTIG Research in a research note issued on Friday,Benzinga reports. They presently have a $450.00 target price on the stock. BTIG Research's target price indicates a potential upside of 25.06% from the stock's previous close.

Several other research analysts have also recently weighed in on CVNA. Zacks Research raised Carvana from a "hold" rating to a "strong-buy" rating in a research report on Monday. Needham & Company LLC boosted their price objective on Carvana from $340.00 to $500.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Wells Fargo & Company boosted their target price on Carvana from $390.00 to $425.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Jefferies Financial Group set a $475.00 target price on Carvana and gave the company a "buy" rating in a research note on Wednesday, October 1st. Finally, Royal Bank Of Canada boosted their target price on Carvana from $400.00 to $460.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Carvana has an average rating of "Moderate Buy" and a consensus price target of $407.44.

Carvana Stock Down 0.3%

Shares of NYSE:CVNA opened at $359.82 on Friday. The stock has a market cap of $77.43 billion, a price-to-earnings ratio of 90.18, a PEG ratio of 1.18 and a beta of 3.55. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. Carvana has a 12-month low of $148.25 and a 12-month high of $413.33. The business's 50 day moving average is $365.93 and its 200 day moving average is $313.81.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.19. The company had revenue of $4.84 billion for the quarter, compared to analysts' expectations of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.During the same quarter in the previous year, the firm earned ($0.05) earnings per share. Carvana's quarterly revenue was up 41.9% on a year-over-year basis. On average, sell-side analysts forecast that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Daniel J. Gill sold 80,000 shares of the business's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $398.91, for a total transaction of $31,912,800.00. Following the completion of the transaction, the insider directly owned 197,832 shares in the company, valued at $78,917,163.12. The trade was a 28.79% 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 100,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $352.40, for a total value of $35,240,000.00. Following the transaction, the insider owned 35,892,792 shares of the company's stock, valued at approximately $12,648,619,900.80. The trade was a 0.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,993,940 shares of company stock worth $718,680,199 over the last ninety days. 17.12% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Carvana

A number of hedge funds and other institutional investors have recently modified their holdings of CVNA. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Carvana by 16.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,513 shares of the company's stock worth $511,000 after purchasing an additional 348 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Carvana by 333.1% in the 1st quarter. Farther Finance Advisors LLC now owns 3,482 shares of the company's stock worth $740,000 after purchasing an additional 2,678 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in shares of Carvana by 4.1% in the 1st quarter. Yousif Capital Management LLC now owns 1,266 shares of the company's stock worth $265,000 after purchasing an additional 50 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Carvana by 31.4% in the 1st quarter. GAMMA Investing LLC now owns 1,030 shares of the company's stock worth $215,000 after purchasing an additional 246 shares in the last quarter. Finally, Integrated Advisors Network LLC purchased a new stake in Carvana during the 1st quarter valued at about $773,000. 56.71% of the stock is currently 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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