Carvana (NYSE:CVNA) Given a $440.00 Price Target by JMP Securities Analysts

Carvana (NYSE:CVNA - Get Free Report) received a $440.00 price target from research analysts at JMP Securities in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm currently has a "market outperform" rating on the stock. JMP Securities' price objective indicates a potential upside of 26.57% from the stock's current price.

CVNA has been the subject of a number of other reports. Piper Sandler set a $340.00 price objective on shares of Carvana and gave the company an "overweight" rating in a report on Thursday, May 22nd. Evercore ISI increased their price objective on shares of Carvana from $295.00 to $305.00 and gave the company an "in-line" rating in a report on Tuesday, June 24th. Morgan Stanley raised their target price on shares of Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Robert W. Baird raised their target price on shares of Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Finally, Wall Street Zen lowered shares of Carvana from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Carvana presently has a consensus rating of "Moderate Buy" and a consensus price target of $293.88.

Carvana Stock Performance

Carvana stock traded up $4.24 during midday trading on Wednesday, hitting $347.63. The stock had a trading volume of 1,165,872 shares, compared to its average volume of 3,849,858. The firm's fifty day moving average is $301.34 and its two-hundred day moving average is $246.91. The company has a market capitalization of $74.44 billion, a PE ratio of 121.80, a P/E/G ratio of 1.32 and a beta of 3.59. Carvana has a 52-week low of $118.50 and a 52-week high of $351.43. The company has a current ratio of 3.81, a quick ratio of 2.70 and a debt-to-equity ratio of 2.97.

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

Insiders Place Their Bets

In related news, major shareholder Ernest C. Garcia II sold 50,000 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $327.07, for a total value of $16,353,500.00. Following the completion of the sale, the insider directly owned 36,737,346 shares in the company, valued at $12,015,683,756.22. This trade represents a 0.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ernest C. Garcia III sold 420 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $335.29, for a total value of $140,821.80. Following the completion of the sale, the chief executive officer owned 701,440 shares of the company's stock, valued at approximately $235,185,817.60. This represents a 0.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,337,111 shares of company stock valued at $420,026,399. 17.12% of the stock is owned by corporate insiders.

Institutional Trading of Carvana

Several institutional investors and hedge funds have recently made changes to their positions in the business. AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Carvana during the first quarter worth $1,448,000. Swedbank AB lifted its position in shares of Carvana by 29.2% during the first quarter. Swedbank AB now owns 69,013 shares of the company's stock worth $14,429,000 after purchasing an additional 15,600 shares during the last quarter. Strs Ohio bought a new stake in shares of Carvana during the first quarter worth $852,000. Geneos Wealth Management Inc. lifted its position in shares of 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 purchasing an additional 181 shares during the last quarter. Finally, IFM Investors Pty Ltd lifted its position in shares of Carvana by 0.6% during the first quarter. IFM Investors Pty Ltd now owns 21,061 shares of the company's stock worth $4,403,000 after purchasing an additional 135 shares during the last quarter. 56.71% of the stock is currently owned by 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.