Carvana (NYSE:CVNA - Get Free Report) received a $500.00 price objective from stock analysts at Needham & Company LLC in a research report issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's price target would indicate a potential upside of 35.73% from the stock's current price.
Other equities analysts have also issued reports about the company. Bank of America increased their price objective on Carvana from $375.00 to $425.00 and gave the company a "buy" rating in a report on Thursday. William Blair reiterated an "outperform" rating on shares of Carvana in a research report on Wednesday, July 23rd. Citigroup raised their price objective on shares of Carvana from $325.00 to $415.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. JMP Securities set a $440.00 price objective on shares of Carvana and gave the company a "market outperform" rating in a research note on Wednesday, July 2nd. Finally, Royal Bank Of Canada upped their target price on Carvana from $320.00 to $340.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $379.65.
Read Our Latest Report on Carvana
Carvana Stock Performance
NYSE:CVNA opened at $368.39 on Thursday. The firm has a market capitalization of $78.89 billion, a P/E ratio of 92.33, a P/E/G ratio of 1.39 and a beta of 3.57. The company has a fifty day moving average of $333.58 and a 200-day moving average of $267.81. The company has a quick ratio of 2.70, a current ratio of 4.00 and a debt-to-equity ratio of 2.51. Carvana has a twelve month low of $118.50 and a twelve month high of $413.33.
Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.19. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The firm's revenue was up 41.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.05) EPS. As a group, sell-side analysts anticipate that Carvana will post 2.85 EPS for the current year.
Insider Buying and Selling
In related news, CFO Mark W. Jenkins sold 51,380 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $326.03, for a total transaction of $16,751,421.40. Following the sale, the chief financial officer directly owned 162,079 shares of the company's stock, valued at $52,842,616.37. This trade represents a 24.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Daniel J. Gill sold 70,166 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $281.43, for a total transaction of $19,746,817.38. Following the transaction, the insider directly owned 201,087 shares of the company's stock, valued at $56,591,914.41. The trade was a 25.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,343,765 shares of company stock worth $780,120,744 in the last three months. 17.12% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of CVNA. Hilltop National Bank bought a new position in shares of Carvana in the second quarter worth about $25,000. Brooklyn Investment Group boosted its position in shares of Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after acquiring an additional 125 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new stake in Carvana in the 1st quarter worth $33,000. SJS Investment Consulting Inc. lifted its stake in Carvana by 960.0% in the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company's stock worth $36,000 after purchasing an additional 96 shares in the last quarter. Finally, LRI Investments LLC bought a new position in shares of Carvana during the 2nd quarter valued at about $42,000. Institutional investors own 56.71% of the company's stock.
Carvana Company Profile
(
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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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