Carvana (NYSE:CVNA) Price Target Lowered to $77.00 at Evercore ISI

Carvana (NYSE:CVNA) had its target price lowered by stock analysts at Evercore ISI from $78.00 to $77.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s target price suggests a potential upside of 11.34% from the stock’s current price.

CVNA has been the topic of a number of other research reports. Wedbush upped their target price on shares of Carvana from $40.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, February 20th. Jefferies Financial Group upgraded shares of Carvana from an “underperform” rating to a “hold” rating and increased their price objective for the stock from $30.00 to $85.00 in a research note on Tuesday, March 12th. William Blair upgraded shares of Carvana from a “market perform” rating to an “outperform” rating in a research note on Friday, February 23rd. Morgan Stanley increased their price objective on shares of Carvana from $32.00 to $45.00 and gave the stock an “underweight” rating in a research note on Monday, February 26th. Finally, JMP Securities increased their price objective on shares of Carvana from $60.00 to $80.00 and gave the stock a “market outperform” rating in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $50.53.

Carvana Trading Down 1.0 %

NYSE:CVNA traded down $0.67 on Tuesday, reaching $69.16. The stock had a trading volume of 1,409,951 shares, compared to its average volume of 6,207,948. The stock has a market cap of $13.96 billion, a P/E ratio of 128.08 and a beta of 3.32. The company has a 50-day moving average of $73.60 and a 200 day moving average of $51.66. Carvana has a 12-month low of $6.70 and a 12-month high of $94.04.

Carvana (NYSE:CVNA) last issued its earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.97) EPS. On average, equities analysts predict that Carvana will post -3.4 EPS for the current year.

Insider Activity

In other news, VP Stephen R. Palmer sold 5,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $86.75, for a total value of $433,750.00. Following the completion of the transaction, the vice president now directly owns 62,514 shares in the company, valued at $5,423,089.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Stephen R. Palmer sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $86.75, for a total transaction of $433,750.00. Following the completion of the sale, the vice president now directly owns 62,514 shares in the company, valued at $5,423,089.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Benjamin E. Huston sold 9,296 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $82.92, for a total transaction of $770,824.32. Following the completion of the transaction, the chief operating officer now directly owns 178,885 shares of the company’s stock, valued at approximately $14,833,144.20. The disclosure for this sale can be found here. Insiders sold 187,883 shares of company stock worth $15,505,178 over the last three months. Corporate insiders own 17.18% of the company’s stock.

Institutional Investors Weigh In On Carvana

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. bought a new position in shares of Carvana during the 4th quarter valued at $29,000. Captrust Financial Advisors raised its holdings in shares of 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 purchasing an additional 967 shares in the last quarter. Hanseatic Management Services Inc. acquired a new position in Carvana in the 3rd quarter valued at $34,000. Parallel Advisors LLC grew 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 during the last quarter. Finally, Meeder Asset Management Inc. grew its stake in Carvana by 14,831.6% in the 4th quarter. Meeder Asset Management Inc. now owns 8,511 shares of the company’s stock valued at $40,000 after buying an additional 8,454 shares during the last quarter. 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.