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

Carvana (NYSE:CVNA) had its target price hoisted by JPMorgan Chase & Co. from $230.00 to $300.00 in a research note published on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms also recently weighed in on CVNA. Royal Bank of Canada upgraded Carvana to a “sector perform” rating and lifted their target price for the company from $166.00 to $170.00 in a research report on Monday, August 19th. Morgan Stanley boosted their price objective on Carvana from $75.00 to $110.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. BTIG Research raised their target price on shares of Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Bank of America upped their price target on shares of Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, TD Cowen raised their price objective on shares of Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Carvana currently has an average rating of “Hold” and a consensus price target of $208.88.

Carvana Trading Down 7.4 %

NYSE:CVNA opened at $229.08 on Thursday. The company has a market cap of $47.41 billion, a PE ratio of 22,930.93 and a beta of 3.37. The company has a current ratio of 3.25, a quick ratio of 2.02 and a debt-to-equity ratio of 18.99. The company has a 50 day simple moving average of $174.33 and a two-hundred day simple moving average of $138.23. Carvana has a 12 month low of $27.75 and a 12 month high of $259.39.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the previous year, the firm earned $0.23 EPS. The business’s revenue was up 31.8% on a year-over-year basis. Research analysts forecast that Carvana will post 0.26 earnings per share for the current year.

Insider Transactions at Carvana

In other news, COO Benjamin E. Huston sold 3,043 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $240.00, for a total transaction of $730,320.00. Following the transaction, the chief operating officer now owns 218,686 shares of the company’s stock, valued at approximately $52,484,640. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Carvana news, insider Daniel J. Gill sold 30,000 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $175.00, for a total value of $5,250,000.00. Following the completion of the sale, the insider now directly owns 328,329 shares of the company’s stock, valued at $57,457,575. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Benjamin E. Huston sold 3,043 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $240.00, for a total transaction of $730,320.00. Following the completion of the transaction, the chief operating officer now owns 218,686 shares in the company, valued at $52,484,640. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,738,934 shares of company stock worth $463,538,905. 17.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CVNA. Sugarloaf Wealth Management LLC purchased a new stake in shares of Carvana in the 3rd quarter worth $32,000. Capital Performance Advisors LLP bought a new stake in shares of Carvana in the third quarter valued at about $40,000. Ridgewood Investments LLC purchased a new stake in Carvana in the second quarter worth about $32,000. Summit Securities Group LLC increased its position in Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 3,300 shares during the period. Finally, Fifth Third Bancorp increased its position in 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 purchasing an additional 275 shares during the period. 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.