Carvana (NYSE:CVNA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Carvana (NYSE:CVNA) had its target price upped by JPMorgan Chase & Co. from $230.00 to $300.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 31.00% from the company’s current price.

A number of other research analysts have also recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Needham & Company LLC raised their target price on Carvana from $200.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday. JMP Securities reiterated a “market outperform” rating and issued a $200.00 price target on shares of Carvana in a research note on Monday, September 9th. Robert W. Baird raised their price objective on Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Stephens initiated coverage on Carvana in a research report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $208.88.

Carvana Trading Down 7.4 %

NYSE:CVNA opened at $229.01 on Thursday. The business’s 50-day moving average is $174.33 and its two-hundred day moving average is $137.76. The firm has a market capitalization of $47.39 billion, a PE ratio of 22,901.00 and a beta of 3.44. Carvana has a 12 month low of $27.75 and a 12 month high of $259.39. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. The business’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.23 earnings per share. Research analysts predict that Carvana will post 0.26 earnings per share for the current fiscal year.

Insider Activity at Carvana

In other news, major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $131.19, for a total value of $9,839,250.00. Following the completion of the sale, the insider now owns 1,090,814 shares in the company, valued at $143,103,888.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, COO Benjamin E. Huston sold 3,043 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $240.00, for a total transaction of $730,320.00. Following the sale, the chief operating officer now owns 218,686 shares in the company, valued at $52,484,640. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $131.19, for a total transaction of $9,839,250.00. Following the transaction, the insider now owns 1,090,814 shares in the company, valued at approximately $143,103,888.66. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,738,934 shares of company stock worth $463,538,905 over the last quarter. 17.12% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Sugarloaf Wealth Management LLC purchased a new stake in shares of Carvana in the third quarter worth approximately $32,000. Capital Performance Advisors LLP acquired a new position in Carvana in the 3rd quarter valued at approximately $40,000. Ridgewood Investments LLC acquired a new position in Carvana in the 2nd quarter valued at approximately $32,000. Summit Securities Group LLC lifted its position in Carvana by 110.0% in the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after buying an additional 3,300 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after buying an additional 275 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

About Carvana

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.