Carvana’s (CVNA) “Hold” Rating Reaffirmed at Needham & Company LLC

Carvana (NYSE:CVNA)‘s stock had its “hold” rating reissued by analysts at Needham & Company LLC in a research report issued on Thursday, Benzinga reports.

Several other equities research analysts have also recently commented on CVNA. Wedbush reaffirmed a “neutral” rating and issued a $80.00 target price (up from $60.00) on shares of Carvana in a research report on Thursday, April 25th. Morgan Stanley lifted their price target on shares of Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, February 26th. Royal Bank of Canada raised shares of Carvana from an “underperform” rating to a “sector perform” rating and lifted their price target for the company from $45.00 to $90.00 in a research report on Friday, March 8th. William Blair raised shares of Carvana from a “market perform” rating to an “outperform” rating in a research report on Friday, February 23rd. Finally, JMP Securities reissued a “market outperform” rating and set a $80.00 price target on shares of Carvana in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $63.31.

Carvana Trading Up 5.1 %

NYSE:CVNA opened at $87.17 on Thursday. The company has a 50-day moving average price of $78.71 and a 200-day moving average price of $54.62. Carvana has a 12 month low of $6.70 and a 12 month high of $94.04. The stock has a market cap of $17.60 billion, a price-to-earnings ratio of 161.43 and a beta of 3.28.

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

Insiders Place Their Bets

In other news, insider Paul W. Breaux sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the completion of 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Neha Parikh bought 1,300 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average price of $77.00 per share, for a total transaction of $100,100.00. Following the completion of the transaction, the director now owns 58,495 shares in the company, valued at $4,504,115. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul W. Breaux sold 15,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the sale, the insider now directly owns 150,126 shares in the company, valued at approximately $10,358,694. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 287,883 shares of company stock valued at $23,778,678. Insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

A number of hedge funds have recently bought and sold shares of CVNA. Morgan Stanley raised its stake in Carvana by 13.8% during the third quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock valued at $619,478,000 after purchasing an additional 1,784,009 shares in the last quarter. Vanguard Group Inc. raised its stake in Carvana by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after purchasing an additional 655,603 shares in the last quarter. TD Asset Management Inc purchased a new stake in Carvana during the third quarter valued at $22,906,000. UBS Group AG raised its stake in Carvana by 132.6% during the third quarter. UBS Group AG now owns 81,620 shares of the company’s stock valued at $3,426,000 after purchasing an additional 331,892 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Carvana by 56.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock valued at $32,684,000 after purchasing an additional 280,851 shares in 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.