DA Davidson Increases Carvana (NYSE:CVNA) Price Target to $260.00

Carvana (NYSE:CVNA) had its price target raised by analysts at DA Davidson from $220.00 to $260.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. DA Davidson’s target price would indicate a potential upside of 16.52% from the company’s current price.

Several other research firms have also recently issued reports on CVNA. Evercore ISI raised their price objective on Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a report on Tuesday, December 3rd. Citigroup upgraded Carvana from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $195.00 to $277.00 in a report on Wednesday, January 8th. Needham & Company LLC raised their price objective on Carvana from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday. Robert W. Baird raised their price objective on Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, William Blair restated an “outperform” rating on shares of Carvana in a report on Thursday. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $265.06.

Carvana Stock Performance

NYSE CVNA opened at $223.14 on Thursday. 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 business has a 50 day moving average price of $234.35 and a 200 day moving average price of $207.79. The company has a market capitalization of $46.33 billion, a P/E ratio of 142.13 and a beta of 3.37. Carvana has a 1-year low of $49.38 and a 1-year high of $292.84.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.27. Carvana had a return on equity of 446.67% and a net margin of 1.54%. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. Sell-side analysts expect that Carvana will post 2.85 EPS for the current fiscal year.

Insider Activity

In other Carvana news, insider Ryan S. Keeton sold 24,845 shares of the business’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 transaction, the insider now owns 151,029 shares in the company, valued at $37,440,089.10. The trade was a 14.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mark W. Jenkins sold 20,000 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $275.68, for a total value of $5,513,600.00. Following the sale, the chief financial officer now owns 199,962 shares of the company’s stock, valued at $55,125,524.16. This represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 173,629 shares of company stock worth $44,833,799. 17.12% of the stock is currently owned by corporate insiders.

Institutional Trading of Carvana

Large investors have recently modified their holdings of the business. Quent Capital LLC acquired a new stake in shares of Carvana during the fourth quarter valued at about $28,000. Global Retirement Partners LLC grew its stake in shares of Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after acquiring an additional 78 shares in the last quarter. Rialto Wealth Management LLC acquired a new stake in shares of Carvana during the fourth quarter valued at about $31,000. ORG Wealth Partners LLC acquired a new stake in shares of Carvana during the fourth quarter valued at about $34,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Carvana during the third quarter valued at about $40,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.