Carvana (NYSE:CVNA) Given New $135.00 Price Target at Evercore ISI

Carvana (NYSE:CVNA) had its price target increased by Evercore ISI from $118.00 to $135.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an in-line rating on the stock.

A number of other equities analysts have also commented on the company. Wedbush reissued a neutral rating and set a $120.00 price target on shares of Carvana in a research note on Wednesday, June 26th. Wells Fargo & Company raised their price objective on Carvana from $60.00 to $77.00 and gave the company an equal weight rating in a research note on Thursday, May 2nd. Needham & Company LLC reaffirmed a hold rating on shares of Carvana in a research note on Wednesday, June 26th. JMP Securities raised their price objective on Carvana from $135.00 to $150.00 and gave the company a market outperform rating in a research note on Friday, June 7th. Finally, Jefferies Financial Group raised Carvana from an underperform rating to a hold rating and raised their price objective for the company from $30.00 to $85.00 in a research note on Tuesday, March 12th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Carvana currently has an average rating of Hold and an average price target of $88.50.

Carvana Trading Up 2.6 %

Shares of Carvana stock opened at $127.55 on Tuesday. The stock has a 50 day moving average of $109.83 and a 200 day moving average of $79.75. Carvana has a 12 month low of $23.43 and a 12 month high of $136.92. The firm has a market cap of $25.84 billion, a PE ratio of 55.94 and a beta of 3.37.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.35. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $2.72 billion. As a group, equities research analysts forecast that Carvana will post -0.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, VP Stephen R. Palmer sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $85.71, for a total transaction of $428,550.00. Following the transaction, the vice president now directly owns 56,872 shares in the company, valued at approximately $4,874,499.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Carvana news, major shareholder Ernest C. Garcia II sold 50,000 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $80.09, for a total transaction of $4,004,500.00. Following the sale, the insider now owns 3,262,500 shares of the company’s stock, valued at approximately $261,293,625. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Stephen R. Palmer sold 5,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $85.71, for a total value of $428,550.00. Following the sale, the vice president now directly owns 56,872 shares in the company, valued at approximately $4,874,499.12. The disclosure for this sale can be found here. Insiders have sold 1,793,946 shares of company stock worth $196,342,406 in the last ninety days. 17.18% of the stock is owned by company insiders.

Institutional Trading of Carvana

A number of institutional investors have recently made changes to their positions in CVNA. Morgan Stanley lifted its position in Carvana by 13.8% during the 3rd quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock worth $619,478,000 after acquiring an additional 1,784,009 shares during the period. Vanguard Group Inc. lifted its position in Carvana by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock worth $904,642,000 after acquiring an additional 266,972 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Carvana by 39.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after acquiring an additional 2,112,463 shares during the period. First Trust Advisors LP lifted its position in Carvana by 17.1% during the 4th quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock worth $78,560,000 after acquiring an additional 216,893 shares during the period. Finally, Goodnow Investment Group LLC lifted its position in Carvana by 1.6% during the 4th quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock worth $77,532,000 after acquiring an additional 23,140 shares during the period. Institutional investors and hedge funds 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.