Carvana’s (CVNA) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Carvana (NYSE:CVNA) in a research report released on Friday,Benzinga reports. They currently have a $340.00 price target on the stock.

A number of other analysts have also recently commented on CVNA. JPMorgan Chase & Co. upped their price target on shares of Carvana from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. Stephens reaffirmed an “overweight” rating and set a $300.00 price target on shares of Carvana in a research report on Monday, March 3rd. Bank of America upped their price objective on shares of Carvana from $252.00 to $270.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Robert W. Baird upped their price objective on shares of Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $265.94.

Carvana Stock Performance

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

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The business 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%. Sell-side analysts forecast that Carvana will post 2.85 EPS for the current year.

Insider Buying and Selling

In other Carvana news, Director Ira J. Platt sold 25,000 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $244.30, for a total value of $6,107,500.00. Following the completion of the sale, the director now owns 5,227 shares in the company, valued at approximately $1,276,956.10. This trade represents a 82.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark W. Jenkins sold 20,000 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $275.68, for a total transaction of $5,513,600.00. Following the completion of the sale, the chief financial officer now owns 199,962 shares of the company’s stock, valued at approximately $55,125,524.16. This trade represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 119,629 shares of company stock worth $30,866,419 in the last quarter. Insiders own 17.18% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CVNA. Wealth Enhancement Advisory Services LLC bought a new position in shares of Carvana during the 3rd quarter valued at approximately $377,000. QRG Capital Management Inc. grew its position in shares of Carvana by 16.2% during the 3rd quarter. QRG Capital Management Inc. now owns 6,713 shares of the company’s stock valued at $1,169,000 after acquiring an additional 935 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Carvana during the 3rd quarter valued at approximately $40,000. Sigma Planning Corp bought a new position in shares of Carvana during the 3rd quarter valued at approximately $228,000. Finally, Axxcess Wealth Management LLC bought a new position in shares of Carvana during the 3rd quarter valued at approximately $784,000. 56.71% of the stock is owned by 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.