Evercore ISI Boosts Carvana (NYSE:CVNA) Price Target to $78.00

Carvana (NYSE:CVNA - Get Free Report) had its price objective lifted by stock analysts at Evercore ISI from $75.00 to $78.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an "in-line" rating on the stock. Evercore ISI's price objective points to a potential downside of 5.88% from the company's previous close.

Other equities analysts also recently issued research reports about the company. Morgan Stanley upped their target price on Carvana from $32.00 to $45.00 and gave the company an "underweight" rating in a research report on Monday, February 26th. Wedbush lifted their target price on Carvana from $40.00 to $50.00 and gave the stock a "neutral" rating in a report on Tuesday, February 20th. Jefferies Financial Group raised shares of Carvana from an "underperform" rating to a "hold" rating and boosted their target price for the company from $30.00 to $85.00 in a research report on Tuesday, March 12th. William Blair raised shares of Carvana from a "market perform" rating to an "outperform" rating in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. raised shares of Carvana from an "underweight" rating to a "neutral" rating and boosted their price objective for the company from $25.00 to $40.00 in a report on Monday, December 4th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $50.60.

Carvana Stock Down 4.5 %

Shares of NYSE CVNA traded down $3.92 during midday trading on Tuesday, hitting $82.87. 3,076,363 shares of the company's stock were exchanged, compared to its average volume of 6,678,042. The firm has a market capitalization of $16.73 billion, a PE ratio of 153.23 and a beta of 3.32. Carvana has a 12 month low of $6.70 and a 12 month high of $94.04. The company's 50 day moving average price is $66.17 and its 200 day moving average price is $49.12.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The business had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.56 billion. Carvana's revenue was down 14.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.97) EPS. On average, equities research analysts anticipate that Carvana will post -3.4 EPS for the current year.

Insider Buying and Selling

In related news, CFO Mark W. Jenkins sold 5,000 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $79.37, for a total value of $396,850.00. Following the completion of the sale, the chief financial officer now directly owns 183,156 shares in the company, valued at $14,537,091.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Carvana news, insider Paul W. Breaux sold 15,000 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the completion of the sale, the insider now directly owns 150,126 shares in the company, valued at approximately $10,358,694. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark W. Jenkins sold 5,000 shares of the business's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $79.37, for a total value of $396,850.00. Following the completion of the transaction, the chief financial officer now directly owns 183,156 shares in the company, valued at $14,537,091.72. The disclosure for this sale can be found here. Insiders have sold a total of 55,000 shares of company stock worth $4,396,850 in the last ninety days. Company insiders own 17.12% of the company's stock.

Institutional Trading of Carvana

Hedge funds have recently modified their holdings of the stock. 1832 Asset Management L.P. bought a new position in Carvana during the 1st quarter valued at $59,000. Blue Trust Inc. bought a new position in shares of Carvana during the 4th quarter worth approximately $29,000. Parallel Advisors LLC boosted its stake in shares of Carvana by 39.0% in the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company's stock worth $37,000 after buying an additional 194 shares during the last quarter. Hanseatic Management Services Inc. bought a new position in shares of Carvana in the third quarter valued at approximately $34,000. Finally, Studio Investment Management LLC purchased a new stake in shares of Carvana during the fourth quarter valued at approximately $47,000. 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.