Carvana Co. (NYSE:CVNA) Receives $57.50 Consensus Target Price from Analysts

Carvana Co. (NYSE:CVNAGet Rating) has received a consensus rating of “Hold” from the twenty-four brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $57.50.

Several analysts recently commented on CVNA shares. Bank of America cut their price objective on shares of Carvana from $225.00 to $80.00 in a research report on Thursday, May 19th. JMP Securities started coverage on shares of Carvana in a research report on Thursday, June 30th. They set a “buy” rating and a $35.00 price objective on the stock. Evercore ISI cut their price objective on shares of Carvana to $45.00 in a research report on Thursday, June 9th. Oppenheimer cut their price objective on shares of Carvana from $220.00 to $100.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 16th. Finally, Needham & Company LLC cut their price objective on shares of Carvana from $80.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday, July 5th.

Insider Transactions at Carvana

In other news, insider Daniel J. Gill bought 94,000 shares of the firm’s stock in a transaction on Wednesday, June 15th. The shares were bought at an average price of $21.77 per share, for a total transaction of $2,046,380.00. Following the purchase, the insider now owns 131,023 shares in the company, valued at $2,852,370.71. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Ernest C. Garcia II bought 1,191,468 shares of the firm’s stock in a transaction on Monday, June 13th. The shares were bought at an average price of $20.67 per share, for a total transaction of $24,627,643.56. Following the purchase, the insider now owns 2,578,314 shares in the company, valued at $53,293,750.38. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel J. Gill bought 94,000 shares of the firm’s stock in a transaction on Wednesday, June 15th. The shares were purchased at an average price of $21.77 per share, for a total transaction of $2,046,380.00. Following the purchase, the insider now owns 131,023 shares in the company, valued at approximately $2,852,370.71. The disclosure for this purchase can be found here. Company insiders own 10.70% of the company’s stock.

Institutional Investors Weigh In On Carvana

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in shares of Carvana by 49.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 20,100,843 shares of the company’s stock valued at $453,877,000 after buying an additional 6,670,993 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Carvana by 46.8% during the first quarter. Vanguard Group Inc. now owns 7,297,426 shares of the company’s stock valued at $870,511,000 after buying an additional 2,325,545 shares during the last quarter. D1 Capital Partners L.P. raised its position in shares of Carvana by 77.7% during the fourth quarter. D1 Capital Partners L.P. now owns 4,211,082 shares of the company’s stock valued at $976,087,000 after buying an additional 1,841,141 shares during the last quarter. Baillie Gifford & Co. raised its position in shares of Carvana by 15.0% during the second quarter. Baillie Gifford & Co. now owns 10,901,629 shares of the company’s stock valued at $246,159,000 after buying an additional 1,418,746 shares during the last quarter. Finally, Tiger Global Management LLC raised its position in shares of Carvana by 17.5% during the first quarter. Tiger Global Management LLC now owns 8,531,177 shares of the company’s stock valued at $1,017,684,000 after buying an additional 1,268,272 shares during the last quarter.

Carvana Stock Up 7.8 %

Shares of Carvana stock opened at $36.62 on Thursday. The company has a debt-to-equity ratio of 7.64, a current ratio of 2.32 and a quick ratio of 1.11. The company has a 50-day moving average of $33.34 and a 200 day moving average of $60.06. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of -5.52 and a beta of 2.60. Carvana has a 1 year low of $19.45 and a 1 year high of $345.98.

Carvana (NYSE:CVNAGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($2.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.81) by ($0.54). The business had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.99 billion. Carvana had a negative return on equity of 115.22% and a negative net margin of 4.24%. The firm’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.26 earnings per share. As a group, sell-side analysts anticipate that Carvana will post -7.76 earnings per share for the current fiscal year.

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.

Read More

Analyst Recommendations for Carvana (NYSE:CVNA)

Receive News & Ratings for Carvana Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carvana and related companies with MarketBeat.com's FREE daily email newsletter.