Carvana (NYSE:CVNA) Given “Neutral” Rating at Wedbush

Wedbush reiterated their neutral rating on shares of Carvana (NYSE:CVNA) in a report issued on Thursday morning, Benzinga reports. They currently have a $80.00 price target on the stock, up from their previous price target of $60.00.

A number of other research analysts have also commented on CVNA. Jefferies Financial Group upgraded shares of Carvana from an underperform rating to a hold rating and raised their price objective for the company from $30.00 to $85.00 in a research note on Tuesday, March 12th. Royal Bank of Canada upgraded Carvana from an underperform rating to a sector perform rating and upped their price objective for the company from $45.00 to $90.00 in a report on Friday, March 8th. Morgan Stanley lifted their target price on Carvana from $32.00 to $45.00 and gave the stock an underweight rating in a report on Monday, February 26th. JMP Securities reissued a market outperform rating and issued a $80.00 price target on shares of Carvana in a report on Wednesday, April 17th. Finally, Raymond James raised shares of Carvana from an underperform rating to a market perform rating in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Carvana has an average rating of Hold and an average target price of $55.87.

Carvana Price Performance

Shares of CVNA stock opened at $84.31 on Thursday. The business has a 50 day simple moving average of $77.47 and a 200 day simple moving average of $53.81. The firm has a market capitalization of $17.02 billion, a price-to-earnings ratio of 156.13 and a beta of 3.32. Carvana has a 12-month low of $6.70 and a 12-month high of $94.04.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the firm posted ($0.97) earnings per share. The business’s quarterly revenue was down 14.6% on a year-over-year basis. On average, equities analysts anticipate that Carvana will post -3.32 EPS for the current fiscal year.

Insider Transactions at Carvana

In related news, insider Paul W. Breaux sold 15,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the transaction, the insider now directly owns 150,126 shares of the company’s stock, valued at $10,358,694. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Carvana news, insider Paul W. Breaux sold 15,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the completion of the sale, the insider now directly owns 150,126 shares in the company, valued at approximately $10,358,694. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Neha Parikh bought 1,300 shares of the stock in a transaction on Friday, March 1st. The shares were acquired at an average cost of $77.00 per share, for a total transaction of $100,100.00. Following the purchase, the director now owns 58,495 shares in the company, valued at $4,504,115. The disclosure for this purchase can be found here. Insiders sold a total of 187,883 shares of company stock valued at $15,505,178 over the last quarter. Company insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. purchased a new position in shares of Carvana during the 4th quarter valued at $29,000. Parallel Advisors LLC grew its stake in Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after purchasing an additional 194 shares in the last quarter. Hanseatic Management Services Inc. acquired a new position in Carvana in the 3rd quarter worth about $34,000. Tidemark LLC purchased a new stake in shares of Carvana during the 4th quarter worth about $50,000. Finally, Harvest Fund Management Co. Ltd lifted its holdings in shares of Carvana by 1,225.6% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company’s stock valued at $50,000 after buying an additional 1,103 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.