Carvana (NYSE:CVNA) Price Target Raised to $150.00 at JPMorgan Chase & Co.

Carvana (NYSE:CVNAFree Report) had its target price upped by JPMorgan Chase & Co. from $130.00 to $150.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts have also issued research reports about the stock. Evercore ISI reduced their price target on shares of Carvana from $78.00 to $77.00 and set an in-line rating for the company in a research report on Tuesday, April 16th. Morgan Stanley increased their price target on shares of Carvana from $32.00 to $45.00 and gave the company an underweight rating in a research report on Monday, February 26th. JMP Securities increased their price target on shares of Carvana from $135.00 to $150.00 and gave the company a market outperform rating in a research report on Friday. Raymond James upgraded shares of Carvana from an underperform rating to a market perform rating in a research report on Friday, February 23rd. Finally, Royal Bank of Canada increased their price target on shares of Carvana from $90.00 to $130.00 and gave the company a sector perform rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $84.36.

View Our Latest Report on CVNA

Carvana Price Performance

NYSE CVNA opened at $107.92 on Monday. Carvana has a 1 year low of $18.46 and a 1 year high of $129.00. The firm has a market cap of $21.86 billion, a price-to-earnings ratio of 47.39 and a beta of 3.29. The company has a fifty day moving average price of $96.75 and a 200-day moving average price of $70.39.

Carvana (NYSE:CVNAGet Free Report) last posted its earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.35. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $2.72 billion. On average, research analysts anticipate that Carvana will post -0.8 EPS for the current fiscal year.

Insider Transactions at Carvana

In other news, COO Benjamin E. Huston sold 9,296 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $82.92, for a total value of $770,824.32. Following the sale, the chief operating officer now directly owns 178,885 shares of the company’s stock, valued at $14,833,144.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, COO Benjamin E. Huston sold 9,296 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $82.92, for a total value of $770,824.32. Following the sale, the chief operating officer now directly owns 178,885 shares of the company’s stock, valued at $14,833,144.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Taira sold 4,197 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $82.84, for a total transaction of $347,679.48. Following the completion of the sale, the insider now directly owns 164,827 shares in the company, valued at $13,654,268.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,258,273 shares of company stock valued at $133,148,690. 17.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Carvana

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. purchased a new position in shares of Carvana during the fourth quarter worth approximately $29,000. Plato Investment Management Ltd bought a new position in shares of Carvana in the first quarter worth approximately $55,000. Parallel Advisors LLC grew its holdings in shares of Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares during the last quarter. Hanseatic Management Services Inc. bought a new position in shares of Carvana in the third quarter worth approximately $34,000. Finally, Tidemark LLC bought a new position in shares of Carvana in the fourth quarter worth approximately $50,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

About Carvana

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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.

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Analyst Recommendations for Carvana (NYSE:CVNA)

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