Carvana (NYSE:CVNA) Price Target Raised to $195.00

by · The Cerbat Gem

Carvana (NYSE:CVNA – Free Report) had its target price upped by Citigroup from $125.00 to $195.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. TD Cowen increased their target price on shares of Carvana from $110.00 to $148.00 and gave the company a hold rating in a research note on Thursday, August 1st. Bank of America reiterated a buy rating and issued a $185.00 price objective on shares of Carvana in a research report on Tuesday, September 17th. BTIG Research boosted their price objective on Carvana from $155.00 to $188.00 and gave the company a buy rating in a research report on Thursday, August 1st. Royal Bank of Canada raised Carvana to a sector perform rating and raised their target price for the stock from $166.00 to $170.00 in a research report on Monday, August 19th. Finally, JMP Securities reissued a market outperform rating and issued a $200.00 price target on shares of Carvana in a report on Monday, September 9th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Carvana presently has an average rating of Hold and a consensus target price of $157.33.

Read Our Latest Stock Analysis on CVNA

Carvana Price Performance

NYSE CVNA opened at $180.17 on Thursday. Carvana has a fifty-two week low of $25.09 and a fifty-two week high of $182.84. The stock’s 50-day moving average is $151.60 and its two-hundred day moving average is $121.68. The firm has a market cap of $36.50 billion, a P/E ratio of 79.02 and a beta of 3.44. 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 – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.23 billion. On average, analysts anticipate that Carvana will post 0.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $130.78, for a total value of $9,808,500.00. Following the completion of the sale, the insider now directly owns 112,500 shares of the company’s stock, valued at approximately $14,712,750. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Mark W. Jenkins sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $146.14, for a total transaction of $730,700.00. Following the completion of the sale, the chief financial officer now directly owns 180,609 shares of the company’s stock, valued at $26,394,199.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $130.78, for a total transaction of $9,808,500.00. Following the completion of the transaction, the insider now directly owns 112,500 shares in the company, valued at approximately $14,712,750. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,636,866 shares of company stock worth $390,626,784 in the last quarter. Insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Several institutional investors and hedge funds have recently made changes to their positions in the business. Ridgewood Investments LLC acquired a new stake in shares of Carvana during the second quarter worth $32,000. Parallel Advisors LLC grew its position in shares of Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after buying an additional 194 shares during the period. Summit Securities Group LLC grew its position in shares of Carvana by 110.0% during 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 during the period. Fifth Third Bancorp increased its stake in shares of Carvana by 450.8% in the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after acquiring an additional 275 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Carvana in the 2nd quarter valued at approximately $51,000. Institutional investors own 56.71% of the company’s stock.

Carvana Company Profile

(Get Free Report)

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.

See Also