Carvana (NYSE:CVNA) Earns “Market Outperform” Rating from JMP Securities

JMP Securities restated their market outperform rating on shares of Carvana (NYSE:CVNA) in a research report report published on Wednesday, Benzinga reports. JMP Securities currently has a $80.00 price objective on the stock.

CVNA has been the subject of a number of other research reports. William Blair upgraded shares of Carvana from a market perform rating to an outperform rating in a research note on Friday, February 23rd. Jefferies Financial Group upgraded shares of Carvana from an underperform rating to a hold rating and lifted their target price for the company from $30.00 to $85.00 in a research note on Tuesday, March 12th. Raymond James upgraded shares of Carvana from an underperform rating to a market perform rating in a research note on Friday, February 23rd. Evercore ISI cut their target price on shares of Carvana from $78.00 to $77.00 and set an in-line rating for the company in a research note on Tuesday. Finally, Morgan Stanley lifted 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. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $53.87.

Carvana Trading Up 0.3 %

NYSE CVNA opened at $71.39 on Wednesday. The stock’s 50 day moving average is $75.21 and its two-hundred day moving average is $52.34. The company has a market capitalization of $14.41 billion, a price-to-earnings ratio of 132.21 and a beta of 3.32. Carvana has a 1-year low of $6.70 and a 1-year high of $94.04.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. The company’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.97) earnings per share. On average, analysts predict that Carvana will post -3.4 earnings per share for the current year.

Insiders Place Their Bets

In other Carvana news, major shareholder Ernest C. Garcia II sold 50,000 shares of Carvana stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $80.13, for a total transaction of $4,006,500.00. Following the completion of the sale, the insider now owns 3,312,500 shares of the company’s stock, valued at approximately $265,430,625. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Ernest C. Garcia II sold 50,000 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $80.13, for a total value of $4,006,500.00. Following the completion of the transaction, the insider now owns 3,312,500 shares of the company’s stock, valued at approximately $265,430,625. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul W. Breaux sold 20,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $89.00, for a total transaction of $1,780,000.00. Following the completion of the transaction, the insider now directly owns 115,032 shares of the company’s stock, valued at approximately $10,237,848. The disclosure for this sale can be found here. In the last 90 days, insiders sold 187,883 shares of company stock valued at $15,505,178. Company insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVNA. Blue Trust Inc. acquired a new position in Carvana in the 4th quarter worth $29,000. Captrust Financial Advisors boosted its stake in Carvana by 270.9% in the 2nd quarter. Captrust Financial Advisors now owns 1,324 shares of the company’s stock worth $30,000 after purchasing an additional 967 shares during the period. Hanseatic Management Services Inc. acquired a new position in Carvana in the 3rd quarter worth $34,000. Parallel Advisors LLC boosted its stake in Carvana by 39.0% in the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares during the period. Finally, Meeder Asset Management Inc. boosted 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 worth $40,000 after purchasing an additional 8,454 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

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.