Carvana (NYSE:CVNA) Price Target Raised to $135.00 at JMP Securities

Carvana (NYSE:CVNA - Get Free Report) had its target price upped by equities research analysts at JMP Securities from $80.00 to $135.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. JMP Securities' target price indicates a potential upside of 10.91% from the stock's current price.

Several other equities analysts have also commented on the company. Jefferies Financial Group raised Carvana from an "underperform" rating to a "hold" rating and increased their target price for the company from $30.00 to $85.00 in a report on Tuesday, March 12th. Wedbush boosted their target price on Carvana from $80.00 to $120.00 and gave the stock a "neutral" rating in a research note on Thursday. Royal Bank of Canada increased their price target on shares of Carvana from $90.00 to $130.00 and gave the company a "sector perform" rating in a research note on Thursday. Robert W. Baird boosted their price objective on shares of Carvana from $65.00 to $110.00 and gave the stock a "neutral" rating in a research report on Thursday. Finally, Morgan Stanley increased their target price on shares of Carvana from $32.00 to $45.00 and gave the company an "underweight" rating in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Carvana has an average rating of "Hold" and an average price target of $73.44.

Carvana Price Performance

Shares of NYSE CVNA traded up $5.22 during midday trading on Friday, hitting $121.72. The company's stock had a trading volume of 8,523,599 shares, compared to its average volume of 6,314,580. The business's fifty day simple moving average is $80.75 and its two-hundred day simple moving average is $55.27. Carvana has a 1 year low of $6.92 and a 1 year high of $124.20. The firm has a market capitalization of $24.58 billion, a price-to-earnings ratio of 53.36 and a beta of 3.28.

Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results 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 company had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.56 billion. During the same quarter last year, the business posted ($0.97) earnings per share. The firm's quarterly revenue was down 14.6% compared to the same quarter last year. Analysts anticipate that Carvana will post -3.32 EPS for the current fiscal year.

Insider Activity at Carvana

In related news, insider Paul W. Breaux sold 15,000 shares of the business's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $69.00, for a total value of $1,035,000.00. Following the transaction, the insider now owns 150,126 shares in the company, valued at approximately $10,358,694. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Neha Parikh purchased 1,300 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average price of $77.00 per share, for a total transaction of $100,100.00. Following the acquisition, the director now directly owns 58,495 shares in the company, valued at approximately $4,504,115. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul W. Breaux sold 15,000 shares of the company's stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $69.00, for a total value of $1,035,000.00. Following the completion of the sale, the insider now owns 150,126 shares in the company, valued at approximately $10,358,694. The disclosure for this sale can be found here. Insiders have sold 337,883 shares of company stock worth $27,930,178 in the last quarter. Company insiders own 17.12% of the company's stock.

Institutional Investors Weigh In On Carvana

A number of institutional investors and hedge funds have recently bought and sold shares of CVNA. Blue Trust Inc. purchased a new stake in Carvana in the 4th quarter valued at approximately $29,000. Hanseatic Management Services Inc. purchased a new stake in Carvana in the 3rd quarter valued at approximately $34,000. Parallel Advisors LLC lifted its stake in Carvana by 39.0% in the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company's stock valued at $37,000 after buying an additional 194 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its stake in shares of Carvana by 1,225.6% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company's stock worth $50,000 after purchasing an additional 1,103 shares during the period. Finally, Tidemark LLC purchased a new position in shares of Carvana during the 4th quarter worth $50,000. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.