Robert W. Baird Raises Carvana (NYSE:CVNA) Price Target to $65.00

Carvana (NYSE:CVNA - Get Free Report) had its price objective boosted by research analysts at Robert W. Baird from $60.00 to $65.00 in a report released on Friday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Robert W. Baird's price target suggests a potential downside of 8.95% from the stock's previous close.

Several other analysts also recently commented on the stock. William Blair upgraded shares of Carvana from a "market perform" rating to an "outperform" rating in a research report on Friday, February 23rd. Jefferies Financial Group upgraded shares of Carvana from an "underperform" rating to a "hold" rating and upped their price target for the company from $30.00 to $85.00 in a research report on Tuesday, March 12th. JMP Securities reiterated a "market outperform" rating and issued a $80.00 price target on shares of Carvana in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Carvana from $65.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, Morgan Stanley boosted their price objective on shares of Carvana from $32.00 to $45.00 and gave the company an "underweight" rating in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $53.87.

Carvana Price Performance

Shares of NYSE:CVNA traded up $0.24 during trading on Friday, hitting $71.39. 3,362,201 shares of the company were exchanged, compared to its average volume of 6,159,500. The stock has a market capitalization of $14.41 billion, a P/E ratio of 132.21 and a beta of 3.32. Carvana has a 12-month low of $6.70 and a 12-month high of $94.04. The firm's 50 day moving average price is $75.21 and its 200-day moving average price is $52.34.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.56 billion. The company's revenue was down 14.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.97) EPS. As a group, equities research analysts anticipate that Carvana will post -3.4 EPS for the current year.

Insider Transactions at Carvana

In other news, major shareholder Ernest C. Garcia II sold 50,000 shares of the company's stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $80.13, for a total transaction of $4,006,500.00. Following the transaction, the insider now directly owns 3,312,500 shares of the company's stock, valued at approximately $265,430,625. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Ernest C. Garcia II sold 50,000 shares of the company's stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $80.13, for a total transaction of $4,006,500.00. Following the transaction, the insider now directly owns 3,312,500 shares of the company's stock, valued at approximately $265,430,625. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark W. Jenkins sold 55,000 shares of the firm's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $86.76, for a total transaction of $4,771,800.00. Following the transaction, the chief financial officer now owns 178,156 shares of the company's stock, valued at $15,456,814.56. The disclosure for this sale can be found here. Insiders have sold a total of 187,883 shares of company stock valued at $15,505,178 in the last ninety days. 17.12% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Carvana

Several hedge funds have recently added to or reduced their stakes in CVNA. Blue Trust Inc. purchased a new position in Carvana during the 4th quarter valued at about $29,000. Captrust Financial Advisors increased its holdings in Carvana by 270.9% during the 2nd quarter. Captrust Financial Advisors now owns 1,324 shares of the company's stock valued at $30,000 after acquiring an additional 967 shares in the last quarter. Hanseatic Management Services Inc. purchased a new position in Carvana during the 3rd quarter valued at about $34,000. Parallel Advisors LLC increased its holdings in Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company's stock valued at $37,000 after acquiring an additional 194 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in Carvana by 14,831.6% during the 4th quarter. Meeder Asset Management Inc. now owns 8,511 shares of the company's stock valued at $40,000 after acquiring an additional 8,454 shares in the last quarter. 56.71% of the stock is currently owned by hedge funds and other 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.