Carvana (NYSE:CVNA) PT Lowered to $80.00

Carvana (NYSE:CVNA – Get Rating) had its target price cut by investment analysts at Needham & Company LLC from $121.00 to $80.00 in a research report issued on Monday, The Fly reports. Needham & Company LLC’s price target would indicate a potential upside of 88.95% from the stock’s current price.

Several other equities analysts have also recently commented on the company. Evercore ISI upgraded Carvana from an “in-line” rating to an “outperform” rating and increased their target price for the company from $175.00 to $210.00 in a research note on Friday, February 25th. Cowen dropped their target price on Carvana from $300.00 to $230.00 and set an “outperform” rating on the stock in a research report on Thursday, April 21st. Oppenheimer dropped their target price on Carvana from $430.00 to $220.00 and set an “outperform” rating on the stock in a research report on Friday, April 8th. Stephens decreased their price target on Carvana from $200.00 to $167.00 and set an “equal weight” rating for the company in a research note on Monday, February 28th. Finally, Truist Financial decreased their price target on Carvana from $160.00 to $80.00 in a research note on Monday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Carvana presently has an average rating of “Hold” and an average target price of $168.57.

Shares of NYSE:CVNA opened at $42.34 on Monday. The company has a debt-to-equity ratio of 63.19, a quick ratio of 0.60 and a current ratio of 1.36. Carvana has a 1 year low of $28.35 and a 1 year high of $376.83. The stock has a market capitalization of $7.32 billion, a P/E ratio of -10.51 and a beta of 2.56. The stock has a 50-day simple moving average of $98.13 and a 200-day simple moving average of $170.96.

Carvana (NYSE:CVNA – Get Rating) last issued its earnings results on Wednesday, April 20th. The company reported ($2.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.72) by ($1.17). The firm had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.37 billion. Carvana had a negative return on equity of 69.88% and a negative net margin of 2.55%. The firm’s revenue for the quarter was up 55.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.46) EPS. Analysts predict that Carvana will post -6.66 earnings per share for the current year.

In other Carvana news, VP Stephen R. Palmer sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $148.73, for a total value of $148,730.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ernest C. Garcia III bought 300,000 shares of the stock in a transaction dated Tuesday, April 26th. The shares were purchased at an average price of $80.00 per share, for a total transaction of $24,000,000.00. Following the purchase, the chief executive officer now owns 804,809 shares of the company’s stock, valued at approximately $64,384,720. The disclosure for this purchase can be found here. Insiders have purchased 3,687,500 shares of company stock worth $295,619,250 in the last quarter. 17.67% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of CVNA. Assetmark Inc. acquired a new stake in shares of Carvana in the 3rd quarter valued at $30,000. OLD Second National Bank of Aurora bought a new position in shares of Carvana in the 3rd quarter valued at $30,000. Sandy Cove Advisors LLC bought a new position in shares of Carvana in the 4th quarter valued at $33,000. Lloyd Advisory Services LLC. lifted its stake in shares of Carvana by 66.3% in the 4th quarter. Lloyd Advisory Services LLC. now owns 173 shares of the company’s stock valued at $40,000 after acquiring an additional 69 shares during the last quarter. Finally, HM Payson & Co. bought a new position in shares of Carvana in the 4th quarter valued at $45,000.

About Carvana (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.

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