Carvana Co. (NYSE:CVNA – Get Free Report)’s stock price shot up 4.2% during trading on Monday after Evercore ISI raised their price target on the stock from $142.00 to $157.00. Evercore ISI currently has an in-line rating on the stock. Carvana traded as high as $147.84 and last traded at $147.79. 693,304 shares changed hands during trading, a decline of 86% from the average session volume of 5,091,181 shares. The stock had previously closed at $141.90.
CVNA has been the subject of a number of other reports. Needham & Company LLC increased their price objective on shares of Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird initiated coverage on shares of Carvana in a research note on Thursday, August 1st. They set a “neutral” rating and a $160.00 price objective on the stock. Morgan Stanley boosted their target price on Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. Royal Bank of Canada raised shares of Carvana to a “sector perform” rating and increased their price target for the company from $166.00 to $170.00 in a report on Monday, August 19th. Finally, TD Cowen increased their price objective on Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $151.94.
Read Our Latest Analysis on Carvana
Insider Buying and Selling at Carvana
Institutional Investors Weigh In On Carvana
Several institutional investors and hedge funds have recently made changes to their positions in CVNA. Ridgewood Investments LLC bought a new stake in Carvana in the 2nd quarter valued at about $32,000. Summit Securities Group LLC boosted its stake in Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 3,300 shares during the last quarter. Fifth Third Bancorp increased its holdings in Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new stake in Carvana during the second quarter worth $51,000. Finally, GAMMA Investing LLC grew its stake in shares of Carvana by 127.9% in the 2nd quarter. GAMMA Investing LLC now owns 458 shares of the company’s stock worth $59,000 after acquiring an additional 257 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.
Carvana Stock Performance
The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. The stock has a market cap of $31.60 billion, a PE ratio of 66.97 and a beta of 3.43. The company’s 50 day simple moving average is $140.31 and its 200 day simple moving average is $113.19.
Carvana (NYSE:CVNA – Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.23 billion. Analysts expect that Carvana Co. will post 0.18 earnings per share for the current year.
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.
See Also
- Five stocks we like better than Carvana
- Breakout Stocks: What They Are and How to Identify Them
- Palo Alto Analysts Drive it to New Highs: 50% Upside Is Possible
- Market Cap Calculator: How to Calculate Market Cap
- Roblox’s Growth Beyond Kids: Stock Set for Major Moves
- Investing in Travel Stocks Benefits
- 5 Oversold Stocks to Buy Right Now
Receive News & Ratings for Carvana Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carvana and related companies with MarketBeat.com's FREE daily email newsletter.