Carvana Co. (NYSE:CVNA) Receives $418.00 Consensus Target Price from Brokerages

Carvana Co. (NYSE:CVNA) has been given a consensus rating of “Moderate Buy” by the twenty-one brokerages that are currently covering the company, Marketbeat reports. Six analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $415.50.

Several research firms have commented on CVNA. Wells Fargo & Company upped their price objective on Carvana from $390.00 to $425.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Citigroup reduced their price objective on Carvana from $490.00 to $445.00 and set a “buy” rating for the company in a research note on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $500.00 price objective on shares of Carvana in a research note on Thursday. Stephens reaffirmed an “overweight” rating and set a $440.00 price objective on shares of Carvana in a research note on Tuesday, September 23rd. Finally, Oppenheimer upgraded Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 target price on the stock in a research report on Friday, July 25th.

Carvana Stock Up 8.7%

CVNA opened at $333.12 on Friday. The business has a 50 day moving average price of $362.00 and a two-hundred day moving average price of $332.73. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63. The company has a market cap of $71.69 billion, a PE ratio of 76.05, a P/E/G ratio of 1.04 and a beta of 3.50. Carvana has a 52 week low of $148.25 and a 52 week high of $413.33.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.26). The company had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.04 billion. Carvana had a net margin of 3.44% and a return on equity of 30.62%. The firm’s revenue was up 54.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.64 earnings per share. As a group, research analysts anticipate that Carvana will post 2.85 EPS for the current year.

Insiders Place Their Bets

In other Carvana news, Director Ira J. Platt sold 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $379.14, for a total transaction of $5,307,960.00. Following the transaction, the director owned 7,231 shares in the company, valued at approximately $2,741,561.34. The trade was a 65.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul W. Breaux sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $375.00, for a total value of $5,625,000.00. Following the transaction, the insider owned 83,018 shares in the company, valued at $31,131,750. The trade was a 15.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 804,855 shares of company stock worth $289,775,284. Company insiders own 16.36% of the company’s stock.

Hedge Funds Weigh In On Carvana

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Carvana by 13.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock worth $3,125,749,000 after acquiring an additional 1,823,218 shares during the period. Vanguard Group Inc. grew its holdings in shares of Carvana by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 12,764,230 shares of the company’s stock worth $4,301,035,000 after acquiring an additional 229,387 shares during the period. State Street Corp grew its holdings in shares of Carvana by 15.0% in the 2nd quarter. State Street Corp now owns 2,765,046 shares of the company’s stock worth $931,710,000 after acquiring an additional 361,624 shares during the period. Geode Capital Management LLC grew its holdings in shares of Carvana by 11.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,232,179 shares of the company’s stock worth $750,301,000 after acquiring an additional 221,161 shares during the period. Finally, Sands Capital Management LLC grew its holdings in shares of Carvana by 1,374.3% in the 2nd quarter. Sands Capital Management LLC now owns 901,227 shares of the company’s stock worth $303,677,000 after acquiring an additional 840,096 shares during the period. Institutional investors and hedge funds 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.