Carvana (NYSE:CVNA - Get Free Report) had its price objective raised by equities researchers at DA Davidson from $260.00 to $380.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. DA Davidson's price target would indicate a potential downside of 2.37% from the company's current price.
A number of other brokerages have also recently issued reports on CVNA. JMP Securities upped their target price on Carvana from $440.00 to $460.00 and gave the stock a "market outperform" rating in a research report on Thursday. Robert W. Baird boosted their price target on Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Wall Street Zen upgraded Carvana from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Evercore ISI raised their target price on Carvana from $295.00 to $305.00 and gave the stock an "in-line" rating in a research report on Tuesday, June 24th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Carvana in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $350.00.
Check Out Our Latest Research Report on Carvana
Carvana Stock Up 16.7%
Shares of CVNA traded up $55.62 during mid-day trading on Thursday, hitting $389.21. The company's stock had a trading volume of 9,700,073 shares, compared to its average volume of 4,258,159. Carvana has a 52-week low of $118.50 and a 52-week high of $413.34. The company's 50-day moving average is $330.55 and its 200-day moving average is $264.88. 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 firm has a market capitalization of $83.34 billion, a price-to-earnings ratio of 136.56, a PEG ratio of 1.27 and a beta of 3.59.
Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.19. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The business had revenue of $4.84 billion during the quarter, compared to analysts' expectations of $4.54 billion. During the same period last year, the business earned ($0.05) earnings per share. The business's revenue for the quarter was up 41.9% on a year-over-year basis. On average, equities research analysts forecast that Carvana will post 2.85 EPS for the current fiscal year.
Insider Buying and Selling at Carvana
In other Carvana news, major shareholder Ernest C. Garcia II sold 50,000 shares of Carvana stock in a transaction on Monday, July 28th. The shares were sold at an average price of $335.66, for a total transaction of $16,783,000.00. Following the sale, the insider owned 35,442,792 shares in the company, valued at $11,896,727,562.72. The trade was a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ernest C. Garcia III sold 5,766 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $334.98, for a total value of $1,931,494.68. Following the sale, the chief executive officer directly owned 601,440 shares of the company's stock, valued at $201,470,371.20. This represents a 0.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,273,765 shares of company stock worth $756,222,904. 17.12% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of CVNA. Price T Rowe Associates Inc. MD grew its holdings in Carvana by 13.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock worth $3,125,749,000 after buying an additional 1,823,218 shares in the last quarter. Vanguard Group Inc. boosted its position in Carvana by 9.7% in the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock worth $2,620,785,000 after purchasing an additional 1,109,476 shares during the last quarter. Durable Capital Partners LP boosted its position in Carvana by 6.3% in the fourth quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock worth $440,932,000 after purchasing an additional 129,246 shares during the last quarter. Geode Capital Management LLC boosted its position in Carvana by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock worth $381,592,000 after purchasing an additional 75,250 shares during the last quarter. Finally, Whale Rock Capital Management LLC lifted its position in shares of Carvana by 29.8% during the 4th quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company's stock valued at $247,017,000 after buying an additional 278,760 shares during the last quarter. Institutional investors own 56.71% of the company's stock.
Carvana Company Profile
(
Get Free Report)
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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