Robert W. Baird Boosts Carvana (NYSE:CVNA) Price Target to $110.00

Carvana (NYSE:CVNA) had its price target upped by Robert W. Baird from $65.00 to $110.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other brokerages have also recently weighed in on CVNA. Evercore ISI decreased their price target on Carvana from $78.00 to $77.00 and set an in-line rating for the company in a research note on Tuesday, April 16th. Royal Bank of Canada raised shares of Carvana from an underperform rating to a sector perform rating and increased their target price for the company from $45.00 to $90.00 in a research report on Friday, March 8th. Morgan Stanley boosted their price target on shares of Carvana from $32.00 to $45.00 and gave the stock an underweight rating in a research report on Monday, February 26th. TD Cowen upped their price objective on shares of Carvana from $58.00 to $70.00 and gave the company a hold rating in a research note on Monday, April 29th. Finally, William Blair raised shares of Carvana from a market perform rating to an outperform rating in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $73.44.

Carvana Price Performance

CVNA opened at $121.67 on Thursday. Carvana has a fifty-two week low of $6.92 and a fifty-two week high of $124.20. The company’s 50 day moving average price is $81.81 and its two-hundred day moving average price is $56.03. The firm has a market capitalization of $24.57 billion, a price-to-earnings ratio of 53.36 and a beta of 3.28.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) 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. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.97) EPS. As a group, equities research analysts predict that Carvana will post -3.05 EPS for the current year.

Insider Transactions at Carvana

In other news, insider Paul W. Breaux sold 15,000 shares of Carvana stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the completion of the transaction, the insider now directly owns 150,126 shares in the company, valued at $10,358,694. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Paul W. Breaux sold 15,000 shares of the firm’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 transaction, the insider now owns 150,126 shares of the company’s stock, valued at approximately $10,358,694. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Mark W. Jenkins sold 55,000 shares of Carvana stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $86.76, for a total value of $4,771,800.00. Following the transaction, the chief financial officer now owns 178,156 shares of the company’s stock, valued at approximately $15,456,814.56. The disclosure for this sale can be found here. Insiders have sold 442,233 shares of company stock valued at $38,200,169 over the last ninety days. 17.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carvana

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Morgan Stanley boosted its holdings in Carvana by 13.8% during the 3rd quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock worth $619,478,000 after acquiring an additional 1,784,009 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Carvana by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after purchasing an additional 655,603 shares during the last quarter. TD Asset Management Inc purchased a new position in Carvana during the third quarter worth about $22,906,000. UBS Group AG grew its position in Carvana by 132.6% in the 3rd quarter. UBS Group AG now owns 81,620 shares of the company’s stock worth $3,426,000 after purchasing an additional 331,892 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Carvana by 56.4% in the 3rd 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 last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

About Carvana

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.