Robert W. Baird Forecasts Strong Price Appreciation for Carvana (NYSE:CVNA) Stock

Carvana (NYSE:CVNA - Get Free Report) had its price target lifted by investment analysts at Robert W. Baird from $200.00 to $275.00 in a report released on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Robert W. Baird's target price would suggest a potential upside of 6.41% from the stock's previous close.

Several other research firms have also commented on CVNA. Morgan Stanley upgraded shares of Carvana from an "underweight" rating to an "overweight" rating in a research note on Monday, March 31st. Wells Fargo & Company reiterated a "market outperform" rating on shares of Carvana in a report on Tuesday. William Blair restated an "outperform" rating on shares of Carvana in a research report on Thursday, February 20th. DA Davidson raised their price target on shares of Carvana from $220.00 to $260.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Finally, JMP Securities dropped their price target on Carvana from $340.00 to $275.00 and set a "market outperform" rating on the stock in a research report on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $259.18.

Carvana Stock Performance

Shares of Carvana stock opened at $258.44 on Thursday. Carvana has a 52 week low of $97.55 and a 52 week high of $292.84. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The business has a 50 day moving average price of $207.56 and a 200-day moving average price of $225.87. The company has a market cap of $55.09 billion, a PE ratio of 164.61 and a beta of 3.61.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.76. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $3.94 billion. During the same period last year, the business earned $0.23 EPS. The business's revenue was up 38.3% on a year-over-year basis. Equities analysts anticipate that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In other Carvana news, insider Thomas Taira sold 27,593 shares of the company's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total value of $6,209,252.79. Following the completion of the sale, the insider now owns 179,673 shares of the company's stock, valued at $40,431,815.19. This represents a 13.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul W. Breaux sold 1,362 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the sale, the insider now owns 153,240 shares of the company's stock, valued at approximately $41,387,059.20. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 348,560 shares of company stock worth $73,806,520 over the last 90 days. Corporate insiders own 17.12% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. XTX Topco Ltd purchased a new position in Carvana in the 1st quarter worth approximately $3,921,000. Banque Cantonale Vaudoise bought a new stake in Carvana during the 1st quarter valued at $633,000. N.E.W. Advisory Services LLC purchased a new stake in Carvana during the 1st quarter valued at $33,000. Mackenzie Financial Corp grew its holdings in Carvana by 25.2% in the 1st quarter. Mackenzie Financial Corp now owns 7,099 shares of the company's stock worth $1,484,000 after acquiring an additional 1,430 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in shares of Carvana in the first quarter valued at about $1,219,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

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.

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