Carvana (NYSE:CVNA) Receives New Coverage from Analysts at Northcoast Research

Northcoast Research began coverage on shares of Carvana (NYSE:CVNAGet Rating) in a report released on Monday, Marketbeat reports. The brokerage issued a neutral rating on the stock.

Several other research analysts have also issued reports on CVNA. Stifel Nicolaus dropped their target price on Carvana from $220.00 to $180.00 and set a buy rating for the company in a research report on Friday, February 25th. Robert W. Baird dropped their target price on Carvana from $350.00 to $300.00 and set an outperform rating for the company in a research report on Monday, December 27th. Piper Sandler dropped their target price on Carvana from $317.00 to $130.00 and set a neutral rating for the company in a research report on Wednesday, March 30th. Stephens dropped their target price on Carvana from $200.00 to $167.00 and set an equal weight rating for the company in a research report on Monday, February 28th. Finally, Oppenheimer lowered their price target on Carvana from $430.00 to $220.00 and set an outperform rating for the company in a report on Friday, April 8th. Seven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, Carvana has an average rating of Buy and a consensus price target of $259.00.

Shares of NYSE CVNA opened at $105.09 on Monday. The business’s 50 day moving average is $128.96 and its two-hundred day moving average is $207.30. The company has a debt-to-equity ratio of 6.11, a current ratio of 1.69 and a quick ratio of 0.60. Carvana has a 1-year low of $97.05 and a 1-year high of $376.83. The stock has a market capitalization of $18.18 billion, a P/E ratio of -65.68 and a beta of 2.30.

Carvana (NYSE:CVNAGet Rating) last issued its quarterly earnings data on Thursday, February 24th. The company reported ($1.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.79) by ($0.23). Carvana had a negative return on equity of 19.82% and a negative net margin of 1.05%. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.51 billion. During the same period in the previous year, the firm earned ($0.41) earnings per share. The company’s revenue was up 110.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Carvana will post -3.99 earnings per share for the current fiscal year.

In other Carvana news, Director Michael E. Maroone purchased 25,000 shares of Carvana stock in a transaction dated Friday, March 4th. The shares were acquired at an average cost of $104.77 per share, with a total value of $2,619,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Stephen R. Palmer sold 1,000 shares of the company’s stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $148.73, for a total value of $148,730.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,026 shares of company stock valued at $153,014. 10.70% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of CVNA. Morgan Stanley increased its position in shares of Carvana by 0.8% during the second quarter. Morgan Stanley now owns 6,570,893 shares of the company’s stock worth $1,983,226,000 after purchasing an additional 50,682 shares in the last quarter. Private Advisor Group LLC acquired a new position in shares of Carvana in the 3rd quarter valued at $482,000. Kestra Private Wealth Services LLC acquired a new position in shares of Carvana in the 3rd quarter valued at $273,000. DekaBank Deutsche Girozentrale increased its position in shares of Carvana by 12.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,287 shares of the company’s stock valued at $2,224,000 after acquiring an additional 803 shares during the period. Finally, Strs Ohio increased its position in shares of Carvana by 329.1% in the 3rd quarter. Strs Ohio now owns 3,128 shares of the company’s stock valued at $943,000 after acquiring an additional 2,399 shares during the period. 97.61% of the stock is currently owned by institutional investors and hedge funds.

Carvana Company Profile (Get Rating)

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. The company's 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.

Further Reading

Analyst Recommendations for Carvana (NYSE:CVNA)

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