Carvana (NYSE:CVNA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Carvana (NYSE:CVNA - Get Free Report) had its price objective lifted by equities research analysts at JPMorgan Chase & Co. from $325.00 to $350.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 0.79% from the company's previous close.

A number of other analysts also recently issued reports on CVNA. Gordon Haskett began coverage on shares of Carvana in a research report on Monday, July 14th. They set a "hold" rating and a $329.00 target price for the company. Wall Street Zen raised shares of Carvana from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Robert W. Baird increased their target price on shares of Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Bank of America increased their target price on shares of Carvana from $325.00 to $375.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Finally, JMP Securities set a $440.00 price objective on shares of Carvana and gave the company a "market outperform" rating in a research report on Wednesday, July 2nd. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $310.83.

Carvana Price Performance

NYSE:CVNA opened at $347.25 on Monday. The firm has a market cap of $74.36 billion, a price-to-earnings ratio of 121.84, a price-to-earnings-growth ratio of 1.36 and a beta of 3.59. 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's 50-day moving average is $324.19 and its two-hundred day moving average is $257.82. Carvana has a 12-month low of $118.50 and a 12-month high of $364.00.

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, beating analysts' consensus estimates 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%. The firm's quarterly revenue was up 38.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 EPS. Research analysts expect that Carvana will post 2.85 EPS for the current year.

Insiders Place Their Bets

In other Carvana news, CEO Ernest C. Garcia III sold 10,000 shares of Carvana stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $349.59, for a total value of $3,495,900.00. Following the completion of the transaction, the chief executive officer owned 641,440 shares of the company's stock, valued at $224,241,009.60. The trade was a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $352.40, for a total transaction of $35,240,000.00. Following the completion of the transaction, the insider directly owned 35,892,792 shares of the company's stock, valued at approximately $12,648,619,900.80. This represents a 0.28% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,001,515 shares of company stock valued at $661,862,748. Insiders own 16.36% of the company's stock.

Hedge Funds Weigh In On Carvana

A number of hedge funds have recently added to or reduced their stakes in the business. Warren Street Wealth Advisors LLC boosted its holdings in Carvana by 2.8% in the second quarter. Warren Street Wealth Advisors LLC now owns 1,153 shares of the company's stock worth $388,000 after purchasing an additional 31 shares during the period. Yousif Capital Management LLC boosted its holdings in Carvana by 4.1% in the first quarter. Yousif Capital Management LLC now owns 1,266 shares of the company's stock worth $265,000 after purchasing an additional 50 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Carvana by 5.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company's stock valued at $256,000 after acquiring an additional 60 shares during the period. Commerce Bank boosted its holdings in shares of Carvana by 1.6% during the first quarter. Commerce Bank now owns 4,446 shares of the company's stock valued at $930,000 after acquiring an additional 69 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Carvana by 3.3% during the first quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the company's stock valued at $466,000 after acquiring an additional 72 shares during the period. Institutional investors and hedge funds 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.

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