Carvana (NYSE:CVNA) Upgraded to "Buy" at Wall Street Zen

Wall Street Zen upgraded shares of Carvana (NYSE:CVNA - Free Report) from a hold rating to a buy rating in a research report report published on Saturday.

Several other brokerages have also weighed in on CVNA. Royal Bank Of Canada increased their price objective on Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Morgan Stanley increased their price target on Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Evercore ISI lifted their price objective on Carvana from $295.00 to $305.00 and gave the stock an "in-line" rating in a report on Tuesday, June 24th. Robert W. Baird boosted their price objective on Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Finally, JMP Securities set a $440.00 target price on shares of Carvana and gave the stock a "market outperform" rating in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $293.88.

Carvana Stock Up 1.5%

Shares of CVNA stock traded up $5.12 on Friday, hitting $348.51. The stock had a trading volume of 1,542,889 shares, compared to its average volume of 3,865,512. The business has a 50 day moving average of $305.85 and a 200 day moving average of $248.31. The stock has a market cap of $74.63 billion, a price-to-earnings ratio of 122.22, a price-to-earnings-growth ratio of 1.36 and a beta of 3.59. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70. Carvana has a 12-month low of $118.50 and a 12-month high of $351.43.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.76. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate 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 quarter last year, the company posted $0.23 earnings per share. As a group, analysts expect that Carvana will post 2.85 EPS for the current year.

Insiders Place Their Bets

In other Carvana news, COO Benjamin E. Huston sold 10,000 shares of Carvana stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $338.02, for a total transaction of $3,380,200.00. Following the transaction, the chief operating officer directly owned 126,855 shares of the company's stock, valued at approximately $42,879,527.10. This trade represents a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 50,000 shares of Carvana stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $327.07, for a total transaction of $16,353,500.00. Following the transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,379,861 shares of company stock worth $434,528,045. Insiders own 16.36% of the company's stock.

Hedge Funds Weigh In On Carvana

Large investors have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. grew its holdings in shares of Carvana by 19.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 2,289 shares of the company's stock worth $465,000 after purchasing an additional 374 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Carvana by 80.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 576 shares of the company's stock valued at $121,000 after buying an additional 256 shares during the period. Jones Financial Companies Lllp boosted its position in Carvana by 265.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,697 shares of the company's stock valued at $345,000 after buying an additional 1,233 shares during the period. SBI Securities Co. Ltd. bought a new stake in Carvana in the 4th quarter worth $146,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Carvana by 9.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company's stock worth $94,148,000 after acquiring an additional 39,089 shares during the last quarter. Hedge funds and other 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.