Brokerages Set Carvana Co. (NYSE:CVNA) Price Target at $93.14

Carvana Co. (NYSE:CVNA) has received a consensus recommendation of “Moderate Buy” from the twenty-four analysts that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $93.1391.

CVNA has been the topic of a number of recent research reports. BTIG Research reissued a “buy” rating and issued a $97.00 target price on shares of Carvana in a report on Friday, June 5th. Gordon Haskett boosted their target price on Carvana from $67.00 to $85.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Argus dropped their target price on Carvana from $500.00 to $100.00 in a report on Monday, May 11th. Weiss Ratings lowered Carvana from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 24th. Finally, William Blair reaffirmed an “outperform” rating on shares of Carvana in a report on Friday, March 13th.

Carvana Stock Performance

NYSE:CVNA opened at $66.56 on Friday. The firm has a market cap of $73.01 billion, a P/E ratio of 40.49, a PEG ratio of 11.23 and a beta of 3.45. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05. The stock’s 50 day simple moving average is $71.59 and its 200-day simple moving average is $75.09. Carvana has a 12-month low of $54.46 and a 12-month high of $97.38.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $1.37. The business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.12 billion. Carvana had a return on equity of 41.46% and a net margin of 6.40%. Equities analysts anticipate that Carvana will post 1.58 EPS for the current year.

Insider Activity

In related news, insider Thomas Taira sold 18,850 shares of the company’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $68.20, for a total transaction of $1,285,570.00. Following the transaction, the insider owned 292,820 shares of the company’s stock, valued at $19,970,324. This represents a 6.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director J Danforth Quayle sold 14,525 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $70.00, for a total value of $1,016,750.00. Following the transaction, the director directly owned 214,960 shares in the company, valued at $15,047,200. This represents a 6.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 415,812 shares of company stock valued at $29,056,896 over the last three months. 15.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. First Horizon Corp increased its position in shares of Carvana by 6.4% during the 4th quarter. First Horizon Corp now owns 418 shares of the company’s stock valued at $176,000 after purchasing an additional 25 shares during the period. Gilder Gagnon Howe & Co. LLC increased its position in shares of Carvana by 1.7% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock valued at $622,000 after purchasing an additional 31 shares during the period. Finivi Inc. boosted its stake in shares of Carvana by 4.6% during the 4th quarter. Finivi Inc. now owns 698 shares of the company’s stock worth $295,000 after acquiring an additional 31 shares in the last quarter. HB Wealth Management LLC boosted its stake in shares of Carvana by 1.0% during the 4th quarter. HB Wealth Management LLC now owns 3,190 shares of the company’s stock worth $1,346,000 after acquiring an additional 31 shares in the last quarter. Finally, Insigneo Advisory Services LLC boosted its stake in shares of Carvana by 4.8% during the 4th quarter. Insigneo Advisory Services LLC now owns 696 shares of the company’s stock worth $294,000 after acquiring an additional 32 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.