Carvana (NYSE:CVNA) Stock Rating Reaffirmed by JMP Securities

JMP Securities reissued their market outperform rating on shares of Carvana (NYSE:CVNA) in a research report released on Wednesday, Benzinga reports. JMP Securities currently has a $80.00 price target on the stock.

A number of other analysts also recently issued reports on the stock. Raymond James upgraded shares of Carvana from an underperform rating to a market perform rating in a report on Friday, February 23rd. Royal Bank of Canada upgraded shares of Carvana from an underperform rating to a sector perform rating and boosted their target price for the stock from $45.00 to $90.00 in a report on Friday, March 8th. Evercore ISI lowered their target price on shares of Carvana from $78.00 to $77.00 and set an in-line rating on the stock in a report on Tuesday. Jefferies Financial Group upgraded shares of 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 report on Tuesday, March 12th. Finally, Wedbush boosted their target price on shares of Carvana from $40.00 to $50.00 and gave the stock a neutral rating in a report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $50.53.

Carvana Stock Down 2.1 %

NYSE CVNA opened at $69.16 on Wednesday. Carvana has a 12-month low of $6.70 and a 12-month high of $94.04. The company has a market capitalization of $13.96 billion, a PE ratio of 128.08 and a beta of 3.32. The firm’s 50 day moving average is $74.47 and its 200-day moving average is $51.99.

Carvana (NYSE:CVNA) last posted its quarterly earnings data 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 firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the business earned ($0.97) EPS. The firm’s revenue was down 14.6% compared to the same quarter last year. As a group, sell-side analysts expect that Carvana will post -3.4 EPS for the current year.

Insider Buying and Selling at Carvana

In other Carvana news, VP Stephen R. Palmer sold 5,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $86.75, for a total value of $433,750.00. Following the transaction, the vice president now directly owns 62,514 shares in the company, valued at $5,423,089.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Paul W. Breaux sold 15,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $10,358,694. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Stephen R. Palmer sold 5,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $86.75, for a total transaction of $433,750.00. Following the completion of the sale, the vice president now directly owns 62,514 shares of the company’s stock, valued at approximately $5,423,089.50. The disclosure for this sale can be found here. Insiders have sold a total of 187,883 shares of company stock worth $15,505,178 over the last ninety days. Insiders own 17.18% of the company’s stock.

Institutional Investors Weigh In On Carvana

A number of institutional investors have recently modified their holdings of the business. Parallel Advisors LLC boosted its position in shares of Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after acquiring an additional 194 shares during the period. Tower Research Capital LLC TRC lifted its position in Carvana by 1.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,160 shares of the company’s stock worth $697,000 after purchasing an additional 249 shares during the period. Geneos Wealth Management Inc. lifted its position in Carvana by 17.0% during the first quarter. Geneos Wealth Management Inc. now owns 1,929 shares of the company’s stock worth $230,000 after purchasing an additional 280 shares during the period. Diversified Trust Co lifted its position in Carvana by 6.0% during the fourth quarter. Diversified Trust Co now owns 5,659 shares of the company’s stock worth $300,000 after purchasing an additional 319 shares during the period. Finally, Corient Private Wealth LLC lifted its position in Carvana by 5.6% during the fourth quarter. Corient Private Wealth LLC now owns 6,713 shares of the company’s stock worth $355,000 after purchasing an additional 358 shares during the period. Institutional investors own 56.71% of the company’s stock.

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.