Citigroup Boosts Carvana (NYSE:CVNA) Price Target to $195.00

Carvana (NYSE:CVNA) had its price objective boosted by equities research analysts at Citigroup from $125.00 to $195.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective would indicate a potential upside of 10.53% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Bank of America reiterated a “buy” rating and issued a $185.00 target price on shares of Carvana in a report on Tuesday, September 17th. Robert W. Baird began coverage on shares of Carvana in a report on Thursday, August 1st. They set a “neutral” rating and a $160.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of Carvana from $150.00 to $155.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Piper Sandler raised their price objective on shares of Carvana from $105.00 to $151.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, TD Cowen raised their price objective on shares of Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $157.33.

Carvana Stock Down 0.3 %

CVNA traded down $0.52 during trading on Thursday, hitting $176.43. 1,174,634 shares of the company’s stock were exchanged, compared to its average volume of 4,998,356. The business’s 50 day moving average is $149.60 and its two-hundred day moving average is $120.60. The stock has a market cap of $35.74 billion, a P/E ratio of 77.74 and a beta of 3.43. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20. Carvana has a fifty-two week low of $25.09 and a fifty-two week high of $179.93.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.23 billion. As a group, equities analysts expect that Carvana will post 0.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $125.72, for a total transaction of $9,429,000.00. Following the transaction, the insider now directly owns 337,500 shares of the company’s stock, valued at $42,430,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $125.72, for a total transaction of $9,429,000.00. Following the transaction, the insider now directly owns 337,500 shares of the company’s stock, valued at $42,430,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul W. Breaux sold 15,000 shares of Carvana stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $145.00, for a total transaction of $2,175,000.00. Following the transaction, the insider now directly owns 114,124 shares in the company, valued at $16,547,980. The disclosure for this sale can be found here. Insiders sold a total of 2,611,866 shares of company stock worth $382,591,784 over the last three months. 17.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Ridgewood Investments LLC purchased a new position in shares of Carvana in the second quarter worth $32,000. Summit Securities Group LLC boosted its holdings in Carvana by 110.0% in the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after acquiring an additional 3,300 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after acquiring an additional 275 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new stake in Carvana in the second quarter valued at $51,000. Finally, GAMMA Investing LLC boosted its holdings in Carvana by 127.9% in the second quarter. GAMMA Investing LLC now owns 458 shares of the company’s stock valued at $59,000 after acquiring an additional 257 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

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.