Carvana (NYSE:CVNA) Price Target Raised to $230.00

Carvana (NYSE:CVNA) had its target price boosted by Piper Sandler from $225.00 to $230.00 in a report released on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research analysts also recently commented on the stock. JMP Securities dropped their price objective on shares of Carvana from $340.00 to $275.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $340.00 price objective on shares of Carvana in a research report on Friday, March 7th. Wells Fargo & Company cut their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. DA Davidson increased their price objective on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Finally, Evercore ISI cut their target price on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research note on Tuesday, March 11th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $253.88.

Carvana Stock Performance

NYSE CVNA opened at $234.67 on Tuesday. Carvana has a 1-year low of $71.39 and a 1-year high of $292.84. The company has a market capitalization of $50.02 billion, a P/E ratio of 149.47 and a beta of 3.61. The business has a 50 day moving average price of $205.78 and a 200 day moving average price of $222.22. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.27. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. Sell-side analysts expect that Carvana will post 2.85 EPS for the current fiscal year.

Insider Transactions at Carvana

In other news, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $250.12, for a total value of $2,501,200.00. Following the completion of the sale, the chief financial officer now owns 219,962 shares in the company, valued at $55,016,895.44. This represents a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas Taira sold 27,593 shares of Carvana stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $225.03, for a total value of $6,209,252.79. Following the transaction, the insider now owns 179,673 shares in the company, valued at $40,431,815.19. This represents a 13.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 330,810 shares of company stock valued at $69,243,820 over the last three months. Company insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Carvana by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock valued at $2,323,463,000 after purchasing an additional 610,234 shares during the last quarter. Lingotto Investment Management LLP lifted its holdings in shares of Carvana by 1.5% during the 4th quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock valued at $810,827,000 after buying an additional 57,215 shares during the last quarter. Durable Capital Partners LP grew its stake in shares of Carvana by 6.3% in the 4th quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company’s stock valued at $440,932,000 after buying an additional 129,246 shares in the last quarter. Geode Capital Management LLC increased its holdings in Carvana by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company’s stock worth $381,592,000 after buying an additional 75,250 shares during the last quarter. Finally, Whale Rock Capital Management LLC raised its position in Carvana by 29.8% during the fourth quarter. Whale Rock Capital Management LLC now owns 1,214,679 shares of the company’s stock valued at $247,017,000 after acquiring an additional 278,760 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.