Carvana Co. (NYSE:CVNA) Receives $56.75 Average Target Price from Brokerages

Shares of Carvana Co. (NYSE:CVNA) have been given a consensus rating of “Hold” by the seventeen analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $73.44.

CVNA has been the subject of several analyst reports. JPMorgan Chase & Co. raised Carvana from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $70.00 to $130.00 in a research report on Thursday, May 2nd. Wedbush increased their price target on shares of Carvana from $80.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. TD Cowen upped their target price on shares of Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a report on Monday, April 29th. Evercore ISI cut their price target on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. Finally, Raymond James upgraded shares of Carvana from an “underperform” rating to a “market perform” rating in a research report on Friday, February 23rd.

Insider Buying and Selling at Carvana

In related 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 sale, the insider now owns 150,126 shares in the company, valued at approximately $10,358,694. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Carvana news, major shareholder Ernest C. Garcia II sold 60,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $120.35, for a total value of $7,221,000.00. Following the sale, the insider now owns 2,992,500 shares of the company’s stock, valued at $360,147,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul W. Breaux sold 15,000 shares of the firm’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 transaction of $1,035,000.00. Following the transaction, the insider now directly owns 150,126 shares of the company’s stock, valued at $10,358,694. The disclosure for this sale can be found here. Over the last three months, insiders sold 502,233 shares of company stock valued at $45,421,169. Corporate insiders own 17.18% of the company’s stock.

Institutional Investors Weigh In On Carvana

Large investors have recently bought and sold shares of the stock. Morgan Stanley lifted its position in shares of Carvana by 13.8% in the third quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock valued at $619,478,000 after acquiring an additional 1,784,009 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Carvana by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after purchasing an additional 655,603 shares in the last quarter. TD Asset Management Inc acquired a new stake in shares of Carvana during the 3rd quarter worth about $22,906,000. UBS Group AG grew its holdings in shares of Carvana by 132.6% during the third quarter. UBS Group AG now owns 81,620 shares of the company’s stock worth $3,426,000 after buying an additional 331,892 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Carvana by 56.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock valued at $32,684,000 after buying an additional 280,851 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Stock Performance

Shares of Carvana stock opened at $123.03 on Tuesday. The business has a 50-day simple moving average of $82.87 and a 200-day simple moving average of $56.84. The company has a market cap of $24.84 billion, a PE ratio of 53.96 and a beta of 3.28. Carvana has a one year low of $8.86 and a one year high of $129.00.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) 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 company’s revenue was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.97) earnings per share. On average, sell-side analysts predict that Carvana will post -3.05 earnings per share for the current fiscal year.

Carvana Company Profile

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.