Carvana (NYSE:CVNA) Price Target Raised to $365.00

Carvana (NYSE:CVNA) had its price target hoisted by JPMorgan Chase & Co. from $350.00 to $365.00 in a research report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities research analysts have also issued reports about the stock. Bank of America boosted their price objective on shares of Carvana from $252.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Needham & Company LLC reiterated a “buy” rating and issued a $340.00 price objective on shares of Carvana in a research report on Friday. DA Davidson boosted their price objective on shares of Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Wedbush set a $250.00 target price on shares of Carvana and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, JMP Securities reissued a “market outperform” rating and issued a $320.00 target price on shares of Carvana in a research note on Monday, December 16th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $265.94.

Carvana Stock Performance

Shares of Carvana stock opened at $188.19 on Friday. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The stock has a market capitalization of $40.11 billion, a price-to-earnings ratio of 119.86 and a beta of 3.56. The firm’s fifty day simple moving average is $231.41 and its 200-day simple moving average is $213.67. Carvana has a 12 month low of $67.61 and a 12 month high of $292.84.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.27. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. As a group, equities analysts forecast that Carvana will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In other Carvana news, CFO Mark W. Jenkins sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $275.68, for a total value of $5,513,600.00. Following the completion of the transaction, the chief financial officer now owns 199,962 shares in the company, valued at $55,125,524.16. This represents a 9.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul W. Breaux sold 1,362 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the completion of the transaction, the insider now owns 153,240 shares of the company’s stock, valued at approximately $41,387,059.20. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,629 shares of company stock valued at $30,866,419. 17.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Carvana

Several institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC boosted its stake in shares of Carvana by 90.8% during the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock valued at $2,152,311,000 after buying an additional 5,882,656 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Carvana by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock valued at $2,323,463,000 after buying an additional 610,234 shares during the last quarter. Lingotto Investment Management LLP lifted its stake in Carvana by 1.5% during the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock worth $810,827,000 after purchasing an additional 57,215 shares during the last quarter. Durable Capital Partners LP lifted its stake in Carvana by 6.3% during the fourth quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company’s stock worth $440,932,000 after purchasing an additional 129,246 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Carvana by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company’s stock worth $381,592,000 after purchasing an additional 75,250 shares during the last quarter. 56.71% of the stock is currently 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.