Evercore ISI Issues Positive Forecast for Carvana (NYSE:CVNA) Stock Price

Carvana (NYSE:CVNA - Get Free Report) had its price target boosted by stock analysts at Evercore ISI from $290.00 to $295.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an "in-line" rating on the stock. Evercore ISI's price objective points to a potential downside of 8.12% from the stock's current price.

Other research analysts have also issued reports about the stock. Wedbush upgraded shares of Carvana to a "hold" rating in a research note on Thursday, May 8th. Robert W. Baird upped their price target on shares of Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. JMP Securities decreased their price target on shares of Carvana from $340.00 to $275.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 9th. JPMorgan Chase & Co. decreased their price target on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Finally, DA Davidson upped their price target on shares of Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, Carvana has an average rating of "Moderate Buy" and an average target price of $283.59.

Carvana Stock Performance

Shares of Carvana stock traded up $13.15 during trading on Tuesday, hitting $321.06. 5,266,626 shares of the stock were exchanged, compared to its average volume of 3,952,606. The stock has a market capitalization of $68.75 billion, a price-to-earnings ratio of 112.65, a price-to-earnings-growth ratio of 1.20 and a beta of 3.65. The company has a fifty day moving average price of $282.80 and a 200-day moving average price of $242.70. Carvana has a 1-year low of $107.75 and a 1-year 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 quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate 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 net margin of 2.68% and a return on equity of 44.86%. 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 business earned $0.23 EPS. As a group, equities analysts predict that Carvana will post 2.85 EPS for the current fiscal year.

Insider Transactions at Carvana

In other news, COO Benjamin E. Huston sold 50,000 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $210.35, for a total transaction of $10,517,500.00. Following the completion of the sale, the chief operating officer now owns 146,278 shares of the company's stock, valued at approximately $30,769,577.30. This represents a 25.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $346.99, for a total transaction of $34,699,000.00. Following the sale, the insider now directly owns 37,092,317 shares of the company's stock, valued at approximately $12,870,663,075.83. This trade represents a 0.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,343,166 shares of company stock valued at $403,944,081. Company insiders own 17.12% of the company's stock.

Hedge Funds Weigh In On Carvana

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brooklyn Investment Group lifted its stake in Carvana by 961.5% in the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company's stock valued at $29,000 after purchasing an additional 125 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after purchasing an additional 78 shares during the last quarter. Rialto Wealth Management LLC bought a new position in Carvana in the 4th quarter valued at approximately $31,000. N.E.W. Advisory Services LLC bought a new position in Carvana in the 1st quarter valued at approximately $33,000. Finally, Venturi Wealth Management LLC lifted its stake in Carvana by 79.2% in the 4th quarter. Venturi Wealth Management LLC now owns 224 shares of the company's stock valued at $46,000 after purchasing an additional 99 shares during the last quarter. Institutional investors own 56.71% of the company's stock.

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.