Carvana (NYSE:CVNA) Price Target Increased to $135.00 by Analysts at JMP Securities

Carvana (NYSE:CVNA) had its price objective upped by JMP Securities from $80.00 to $135.00 in a research report released on Friday morning, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC reiterated a hold rating on shares of Carvana in a report on Thursday. Wedbush increased their target price on shares of Carvana from $80.00 to $120.00 and gave the stock a neutral rating in a research report on Thursday. Evercore ISI dropped their price objective on shares of Carvana from $78.00 to $77.00 and set an in-line rating for the company in a research report on Tuesday, April 16th. Jefferies Financial Group upgraded Carvana from an underperform rating to a hold rating and boosted their target price for the stock from $30.00 to $85.00 in a research report on Tuesday, March 12th. Finally, Morgan Stanley raised 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, thirteen have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $73.44.

Carvana Price Performance

Shares of CVNA opened at $121.72 on Friday. The stock has a market cap of $24.58 billion, a price-to-earnings ratio of 53.39 and a beta of 3.28. The company has a 50-day moving average of $81.81 and a two-hundred day moving average of $55.88. Carvana has a one year low of $6.92 and a one year high of $124.20.

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 business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.56 billion. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.97) earnings per share. Analysts anticipate that Carvana will post -3.32 earnings per share for the current year.

Insider Buying and Selling at Carvana

In other news, insider Paul W. Breaux sold 15,000 shares of Carvana stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $69.00, for a total value of $1,035,000.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Neha Parikh purchased 1,300 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average cost of $77.00 per share, with a total value of $100,100.00. Following the purchase, the director now owns 58,495 shares in the company, valued at $4,504,115. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul W. Breaux sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $69.00, for a total value of $1,035,000.00. Following the completion of the sale, the insider now directly owns 150,126 shares of the company’s stock, valued at approximately $10,358,694. The disclosure for this sale can be found here. Over the last three months, insiders have sold 442,233 shares of company stock valued at $38,200,169. 17.12% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Carvana

A number of institutional investors have recently modified their holdings of CVNA. Morgan Stanley boosted its stake in Carvana by 13.8% during the 3rd quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock valued at $619,478,000 after purchasing an additional 1,784,009 shares during the last quarter. Vanguard Group Inc. lifted 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 in the last quarter. FMR LLC boosted its holdings in Carvana by 0.5% during the 3rd quarter. FMR LLC now owns 4,696,510 shares of the company’s stock worth $197,160,000 after acquiring an additional 24,560 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Carvana by 17.1% in the 4th quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock worth $78,560,000 after acquiring an additional 216,893 shares in the last quarter. Finally, Goodnow Investment Group LLC boosted its holdings in Carvana by 1.6% during the fourth quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock worth $77,532,000 after purchasing an additional 23,140 shares during the last quarter. 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.