Carvana Co. (NYSE:CVNA) Receives $229.18 Average Price Target from Brokerages

Shares of Carvana Co. (NYSE:CVNA) have earned a consensus rating of “Hold” from the nineteen ratings firms that are currently covering the company, Marketbeat.com reports. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $237.12.

Several equities analysts have recently weighed in on CVNA shares. Royal Bank of Canada upgraded Carvana from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $270.00 to $280.00 in a report on Tuesday. Citigroup raised their price objective on shares of Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Piper Sandler upped their target price on shares of Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Bank of America raised their price target on shares of Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upped their price objective on Carvana from $230.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st.

Insiders Place Their Bets

In related news, COO Benjamin E. Huston sold 3,043 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $240.00, for a total value of $730,320.00. Following the completion of the sale, the chief operating officer now directly owns 218,686 shares of the company’s stock, valued at approximately $52,484,640. This represents a 1.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the sale, the chief financial officer now owns 189,097 shares in the company, valued at approximately $37,961,222.75. The trade was a 5.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,051,908 shares of company stock worth $218,824,285. Company insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Hedge funds and other institutional investors have recently modified their holdings of the company. Forum Financial Management LP boosted its holdings in Carvana by 3.8% in the 3rd quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock worth $361,000 after buying an additional 76 shares during the period. Empirical Asset Management LLC boosted its stake in shares of Carvana by 2.0% in the third quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock worth $890,000 after acquiring an additional 100 shares during the period. CIBC Asset Management Inc grew its position in shares of Carvana by 3.5% during the third quarter. CIBC Asset Management Inc now owns 3,366 shares of the company’s stock worth $586,000 after purchasing an additional 115 shares in the last quarter. MML Investors Services LLC raised its stake in Carvana by 3.0% during the 3rd quarter. MML Investors Services LLC now owns 4,172 shares of the company’s stock valued at $726,000 after purchasing an additional 122 shares during the period. Finally, Bleakley Financial Group LLC raised its stake in Carvana by 6.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock valued at $402,000 after purchasing an additional 130 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Performance

Shares of CVNA stock opened at $198.67 on Friday. The company’s fifty day moving average price is $236.14 and its 200-day moving average price is $182.59. The stock has a market cap of $41.25 billion, a PE ratio of 19,886.89 and a beta of 3.38. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. Carvana has a 12 month low of $40.21 and a 12 month high of $268.34.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter last year, the company posted $0.23 EPS. Carvana’s revenue for the quarter was up 31.8% compared to the same quarter last year. On average, equities analysts expect that Carvana will post 0.76 EPS for the current fiscal 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.