Carvana (NYSE:CVNA) Rating Reiterated by JMP Securities

Carvana (NYSE:CVNA)‘s stock had its “market outperform” rating reaffirmed by stock analysts at JMP Securities in a research report issued on Wednesday, Benzinga reports. They currently have a $150.00 price target on the stock. JMP Securities’ price target points to a potential upside of 15.43% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. TD Cowen raised their price objective on shares of Carvana from $58.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Needham & Company LLC raised shares of Carvana from a “hold” rating to a “buy” rating and set a $160.00 price objective for the company in a report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Carvana from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. Robert W. Baird raised their target price on Carvana from $65.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, Evercore ISI increased their price target on Carvana from $118.00 to $135.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $93.27.

Carvana Price Performance

Shares of Carvana stock opened at $129.95 on Wednesday. The firm has a market cap of $26.32 billion, a price-to-earnings ratio of 57.00 and a beta of 3.37. The stock’s 50-day moving average is $115.54 and its 200 day moving average is $82.87. Carvana has a one year low of $25.09 and a one year high of $136.92.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.35. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $2.72 billion. On average, sell-side analysts expect that Carvana will post -0.75 EPS for the current fiscal year.

Insider Activity

In related news, insider Thomas Taira sold 68,556 shares of Carvana stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $102.74, for a total value of $7,043,443.44. Following the completion of the sale, the insider now owns 186,397 shares in the company, valued at approximately $19,150,427.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Stephen R. Palmer sold 5,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $85.71, for a total transaction of $428,550.00. Following the sale, the vice president now owns 56,872 shares of the company’s stock, valued at $4,874,499.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas Taira sold 68,556 shares of Carvana stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $102.74, for a total transaction of $7,043,443.44. Following the completion of the transaction, the insider now owns 186,397 shares of the company’s stock, valued at approximately $19,150,427.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,098,946 shares of company stock valued at $236,826,806. Company insiders own 17.18% of the company’s stock.

Hedge Funds Weigh In On Carvana

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVNA. Vanguard Group Inc. boosted its holdings in Carvana by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after purchasing an additional 655,603 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Carvana by 6.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 831,879 shares of the company’s stock worth $44,040,000 after buying an additional 53,318 shares in the last quarter. Blue Trust Inc. purchased a new stake in shares of Carvana during the fourth quarter worth approximately $29,000. Rafferty Asset Management LLC raised its holdings in Carvana by 38.6% in the fourth quarter. Rafferty Asset Management LLC now owns 43,792 shares of the company’s stock valued at $2,318,000 after acquiring an additional 12,193 shares in the last quarter. Finally, Investmentaktiengesellschaft Fuer Langfristige Investoren TGV lifted its stake in Carvana by 17.6% in the fourth quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 500,000 shares of the company’s stock worth $26,470,000 after acquiring an additional 75,000 shares during the last quarter. Hedge funds and other 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.