Carvana (NYSE:CVNA) Price Target Raised to $70.00 at JPMorgan Chase & Co.

Carvana (NYSE:CVNA) had its price objective boosted by JPMorgan Chase & Co. from $65.00 to $70.00 in a report released on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

CVNA has been the subject of several other research reports. Morgan Stanley boosted their target price 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. Jefferies Financial Group raised shares of Carvana from an underperform rating to a hold rating and upped their price objective for the company from $30.00 to $85.00 in a research note on Tuesday, March 12th. Wedbush boosted their price objective 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. Raymond James raised Carvana from an underperform rating to a market perform rating in a research report on Friday, February 23rd. Finally, Evercore ISI lowered their price target on Carvana from $78.00 to $77.00 and set an in-line rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $52.53.

Carvana Trading Up 2.8 %

Shares of CVNA opened at $71.10 on Thursday. Carvana has a 12-month low of $6.70 and a 12-month high of $94.04. The stock has a market cap of $14.36 billion, a P/E ratio of 131.67 and a beta of 3.32. The company has a 50-day moving average of $74.84 and a two-hundred day moving average of $52.12.

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

Insider Activity at Carvana

In other Carvana news, 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 transaction, the insider now owns 150,126 shares in the company, valued at approximately $10,358,694. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Carvana news, Director Neha Parikh bought 1,300 shares of the stock in a transaction dated Friday, March 1st. The stock was bought at an average cost of $77.00 per share, for a total transaction of $100,100.00. Following the completion of the purchase, the director now directly owns 58,495 shares of the company’s stock, valued at $4,504,115. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 completion of the transaction, 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. In the last ninety days, insiders have sold 187,883 shares of company stock worth $15,505,178. 17.12% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Carvana

Hedge funds have recently bought and sold shares of the business. Diversified Trust Co boosted its stake in shares of Carvana by 53.3% during the 1st quarter. Diversified Trust Co now owns 8,678 shares of the company’s stock valued at $763,000 after buying an additional 3,019 shares during the last quarter. Quadrature Capital Ltd increased its stake in shares of Carvana by 128.1% in the fourth quarter. Quadrature Capital Ltd now owns 118,196 shares of the company’s stock worth $6,269,000 after buying an additional 66,386 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Carvana by 63.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,481 shares of the company’s stock valued at $131,000 after acquiring an additional 965 shares in the last quarter. Vanguard Group Inc. boosted its stake in Carvana by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after acquiring an additional 655,603 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new position in Carvana during the 4th quarter worth $4,703,000. Institutional investors and hedge funds 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.