Carvana (NYSE:CVNA) Stock Price Expected to Rise, Piper Sandler Analyst Says

Carvana (NYSE:CVNA - Get Free Report) had its price target boosted by equities researchers at Piper Sandler from $225.00 to $230.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Piper Sandler's target price points to a potential downside of 2.88% from the stock's current price.

A number of other analysts have also commented on CVNA. Royal Bank of Canada lifted their target price on Carvana from $280.00 to $320.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. JMP Securities reduced their price objective on Carvana from $340.00 to $275.00 and set a "market outperform" rating for the company in a report on Wednesday, April 9th. Morgan Stanley upgraded shares of Carvana from an "underweight" rating to an "overweight" rating in a research note on Monday, March 31st. Needham & Company LLC reaffirmed a "buy" rating and set a $340.00 price target on shares of Carvana in a report on Friday, March 7th. Finally, Citigroup decreased their price objective on shares of Carvana from $320.00 to $280.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, Carvana currently has an average rating of "Moderate Buy" and an average target price of $253.88.

Carvana Stock Up 0.8 %

Carvana stock traded up $1.80 during mid-day trading on Tuesday, hitting $236.82. The company had a trading volume of 2,947,267 shares, compared to its average volume of 4,061,562. Carvana has a 12 month low of $80.07 and a 12 month high of $292.84. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The stock's 50 day moving average price is $204.82 and its two-hundred day moving average price is $222.76. The company has a market capitalization of $50.48 billion, a PE ratio of 150.84 and a beta of 3.61.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.27. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. As a group, sell-side analysts anticipate that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In other Carvana news, insider Thomas Taira sold 27,593 shares of Carvana stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $225.03, for a total transaction of $6,209,252.79. Following the transaction, the insider now owns 179,673 shares of the company's stock, valued at $40,431,815.19. The trade was a 13.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the completion of the sale, the chief financial officer now directly owns 219,962 shares of the company's stock, valued at approximately $55,016,895.44. This trade represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 330,810 shares of company stock valued at $69,243,820. Company insiders own 17.12% of the company's stock.

Hedge Funds Weigh In On Carvana

Several large investors have recently made changes to their positions in the business. Quent Capital LLC purchased a new position in Carvana in the 4th quarter worth approximately $28,000. Global Retirement Partners LLC lifted its holdings in shares of Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock worth $30,000 after buying an additional 78 shares in the last quarter. Rialto Wealth Management LLC bought a new position in shares of Carvana during the fourth quarter worth $31,000. ORG Wealth Partners LLC purchased a new position in Carvana during the fourth quarter valued at $34,000. Finally, Versant Capital Management Inc purchased a new position in Carvana during the fourth quarter valued at $42,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

About Carvana

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.