Carvana (NYSE:CVNA) Rating Increased 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 released on Saturday morning.

A number of other analysts have also issued reports on the company. Wedbush upgraded Carvana to a "hold" rating in a report on Thursday, May 8th. Needham & Company LLC restated a "buy" rating and issued a $340.00 target price on shares of Carvana in a report on Thursday, May 8th. Citigroup restated an "outperform" rating on shares of Carvana in a report on Wednesday. Piper Sandler set a $340.00 target price on Carvana and gave the company an "overweight" rating in a report on Thursday, May 22nd. Finally, Bank of America increased their price objective on Carvana from $325.00 to $375.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, Carvana currently has an average rating of "Moderate Buy" and an average price target of $293.88.

Carvana Stock Up 1.5%

Shares of CVNA traded up $5.12 during mid-day trading on Friday, reaching $348.51. The company's stock had a trading volume of 1,542,889 shares, compared to its average volume of 3,860,027. The business has a fifty day moving average of $305.85 and a 200 day moving average of $248.20. The company has a market cap of $74.63 billion, a price-to-earnings ratio of 122.28, a price-to-earnings-growth ratio of 1.36 and a beta of 3.59. Carvana has a 1 year low of $118.50 and a 1 year high of $351.43. The company has a quick ratio of 2.70, a current ratio of 3.81 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, beating analysts' consensus estimates 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 return on equity of 44.86% and a net margin of 2.68%. The company's revenue for the quarter was up 38.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 earnings per share. As a group, analysts forecast that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Daniel J. Gill sold 70,166 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $281.43, for a total value of $19,746,817.38. Following the transaction, the insider directly owned 201,087 shares of the company's stock, valued at approximately $56,591,914.41. This trade represents a 25.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark W. Jenkins sold 51,380 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $326.03, for a total value of $16,751,421.40. Following the completion of the transaction, the chief financial officer directly owned 162,079 shares in the company, valued at $52,842,616.37. The trade was a 24.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,379,861 shares of company stock valued at $434,528,045 over the last 90 days. 17.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Brooklyn Investment Group increased its stake in shares of Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after purchasing an additional 125 shares during the period. Rialto Wealth Management LLC bought a new position in shares of Carvana in the fourth quarter worth about $31,000. N.E.W. Advisory Services LLC bought a new position in shares of Carvana in the first quarter worth about $33,000. Transce3nd LLC bought a new position in shares of Carvana in the fourth quarter worth about $48,000. Finally, Geneos Wealth Management Inc. increased its stake in shares of Carvana by 251.4% in 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 period. 56.71% of the stock is 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.