Brokerages Set Carvana Co. (NYSE:CVNA) PT at $222.71

Shares of Carvana Co. (NYSE:CVNA) have received an average rating of “Hold” from the nineteen ratings firms that are covering the company, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $222.71.

Several analysts have commented on the company. Stephens started coverage on Carvana in a report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price objective on the stock. Piper Sandler boosted their price target on shares of Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Jefferies Financial Group increased their price objective on shares of Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Evercore ISI boosted their target price on shares of Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a research note on Tuesday, December 3rd. Finally, JMP Securities raised their price target on shares of Carvana from $200.00 to $320.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st.

Insider Activity at Carvana

In other Carvana news, COO Benjamin E. Huston sold 3,043 shares of Carvana stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $240.00, for a total value of $730,320.00. Following the sale, the chief operating officer now owns 218,686 shares in the company, valued at $52,484,640. The trade was a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan S. Keeton sold 24,845 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $247.90, for a total value of $6,159,075.50. Following the completion of the transaction, the insider now directly owns 151,029 shares in the company, valued at approximately $37,440,089.10. This trade represents a 14.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,071,908 shares of company stock valued at $395,374,785. 17.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carvana

Institutional investors have recently made changes to their positions in the stock. Eagle Asset Management Inc. purchased a new position in shares of Carvana during the 3rd quarter worth approximately $50,531,000. Driehaus Capital Management LLC boosted its position in shares of Carvana by 124.9% during the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after buying an additional 323,153 shares during the period. Swiss National Bank grew its stake in shares of Carvana by 6.9% in the third quarter. Swiss National Bank now owns 207,900 shares of the company’s stock valued at $36,197,000 after buying an additional 13,400 shares in the last quarter. Integrated Advisors Network LLC grew its stake in shares of Carvana by 89.2% in the third quarter. Integrated Advisors Network LLC now owns 53,004 shares of the company’s stock valued at $9,229,000 after buying an additional 24,996 shares in the last quarter. Finally, Colonial River Investments LLC purchased a new stake in shares of Carvana in the 3rd quarter valued at $786,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Performance

CVNA opened at $248.29 on Wednesday. The stock has a market cap of $51.55 billion, a P/E ratio of 24,829.00 and a beta of 3.32. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The firm has a fifty day moving average price of $228.64 and a 200 day moving average price of $168.46. Carvana has a 1 year low of $40.21 and a 1 year high of $268.34.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. Carvana’s revenue was up 31.8% on a year-over-year basis. During the same quarter last year, the business earned $0.23 earnings per share. Equities research analysts anticipate that Carvana will post 0.76 earnings per share for the current year.

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.