Carvana (NYSE:CVNA) Price Target Raised to $110.00

Carvana (NYSE:CVNA) had its price target raised by Robert W. Baird from $65.00 to $110.00 in a research note published on Thursday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

A number of other equities analysts have also commented on CVNA. TD Cowen boosted their price objective on Carvana from $58.00 to $70.00 and gave the stock a hold rating in a research note on Monday, April 29th. JMP Securities reiterated a market outperform rating and set a $80.00 price target on shares of Carvana in a research report on Wednesday, April 17th. Royal Bank of Canada upgraded shares of Carvana from an underperform rating to a sector perform rating and raised their price objective for the company from $45.00 to $90.00 in a research report on Friday, March 8th. Morgan Stanley upped their target price on shares of Carvana from $32.00 to $45.00 and gave the stock an underweight rating in a research report on Monday, February 26th. Finally, William Blair raised shares of Carvana from a market perform rating to an outperform rating in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Carvana has a consensus rating of Hold and an average price target of $73.44.

Carvana Trading Up 4.4 %

Shares of Carvana stock traded up $5.17 during mid-day trading on Thursday, reaching $121.67. 8,528,363 shares of the stock were exchanged, compared to its average volume of 5,397,261. The company has a market cap of $24.57 billion, a price-to-earnings ratio of 53.36 and a beta of 3.28. Carvana has a fifty-two week low of $6.92 and a fifty-two week high of $124.20. The firm has a 50-day simple moving average of $81.81 and a 200 day simple moving average of $56.03.

Carvana (NYSE:CVNA) last posted its earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.56 billion. The company’s revenue was down 14.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.97) EPS. On average, research analysts predict that Carvana will post -3.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Neha Parikh bought 1,300 shares of Carvana stock in a transaction on Friday, March 1st. The shares were purchased at an average price of $77.00 per share, for a total transaction of $100,100.00. Following the completion of the acquisition, the director now owns 58,495 shares in the company, valued at $4,504,115. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Neha Parikh bought 1,300 shares of the stock in a transaction on Friday, March 1st. The stock was purchased at an average price of $77.00 per share, with a total value of $100,100.00. Following the completion of the purchase, the director now owns 58,495 shares of the company’s stock, valued at $4,504,115. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Benjamin E. Huston sold 18,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $115.07, for a total transaction of $2,071,260.00. Following the completion of the transaction, the chief operating officer now directly owns 213,548 shares of the company’s stock, valued at approximately $24,572,968.36. The disclosure for this sale can be found here. Insiders sold a total of 442,233 shares of company stock valued at $38,200,169 over the last three months. Company insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

Several large investors have recently modified their holdings of CVNA. Morgan Stanley grew its position in shares of Carvana by 13.8% in the 3rd 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 during the period. Vanguard Group Inc. lifted its stake in Carvana by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after buying an additional 655,603 shares in the last quarter. TD Asset Management Inc acquired a new position in shares of Carvana in the third quarter valued at approximately $22,906,000. UBS Group AG boosted its holdings in shares of Carvana by 132.6% in the third quarter. UBS Group AG now owns 81,620 shares of the company’s stock valued at $3,426,000 after buying an additional 331,892 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Carvana by 56.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock worth $32,684,000 after acquiring an additional 280,851 shares in the last quarter. 56.71% of the stock is currently 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.