Needham & Company LLC Reiterates “Buy” Rating for Carvana (NYSE:CVNA)

Needham & Company LLC reaffirmed their buy rating on shares of Carvana (NYSE:CVNA) in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a $330.00 target price on the stock.

A number of other equities research analysts have also recently weighed in on CVNA. JMP Securities restated a “market outperform” rating and issued a $320.00 price target on shares of Carvana in a research note on Monday, December 16th. Evercore ISI raised their target price on shares of Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a research note on Tuesday, December 3rd. Stephens reaffirmed an “overweight” rating and set a $300.00 target price on shares of Carvana in a report on Thursday, January 2nd. Citigroup increased their price target on shares of Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Finally, Wedbush boosted their price objective on Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $237.12.

Carvana Stock Up 5.2 %

Carvana stock opened at $198.67 on Tuesday. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The company’s 50-day moving average is $236.14 and its 200-day moving average is $182.59. The firm has a market capitalization of $41.25 billion, a PE ratio of 19,886.89 and a beta of 3.38. Carvana has a fifty-two week low of $40.21 and a fifty-two week high of $268.34.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period last year, the firm earned $0.23 EPS. Carvana’s quarterly revenue was up 31.8% compared to the same quarter last year. Sell-side analysts anticipate that Carvana will post 0.76 earnings per share for the current year.

Insider Buying and Selling at Carvana

In other Carvana news, insider Daniel J. Gill sold 44,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total value of $11,416,680.00. Following the sale, the insider now owns 191,225 shares of the company’s stock, valued at approximately $49,617,150.75. This trade represents a 18.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $190.47, for a total value of $19,047,000.00. Following the transaction, the insider now directly owns 38,258,131 shares of the company’s stock, valued at $7,287,026,211.57. This trade represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,051,908 shares of company stock valued at $218,824,285 in the last ninety days. 17.12% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Carvana

Several hedge funds and other institutional investors have recently made changes to their positions in CVNA. Sugarloaf Wealth Management LLC bought a new position in Carvana in the 3rd quarter valued at approximately $32,000. Capital Performance Advisors LLP bought a new position in shares of Carvana in the 3rd quarter valued at $40,000. Versant Capital Management Inc acquired a new stake in shares of Carvana during the 4th quarter valued at $42,000. First Horizon Advisors Inc. grew its position in Carvana by 363.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock worth $44,000 after acquiring an additional 196 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in Carvana in the 2nd quarter worth about $51,000. 56.71% of the stock is owned by institutional investors.

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.