Carvana Co. (NYSE:CVNA) Receives $241.94 Consensus Price Target from Brokerages

Carvana Co. (NYSE:CVNA) has received a consensus rating of “Moderate Buy” from the nineteen research firms that are presently covering the firm, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $244.88.

Several research firms have recently commented on CVNA. Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $110.00 to $260.00 in a report on Tuesday, November 5th. Evercore ISI boosted their target price on Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Carvana in a research note on Monday, December 16th. Piper Sandler boosted their price target on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $330.00 price objective on shares of Carvana in a research report on Tuesday, January 7th.

Carvana Trading Up 1.6 %

Shares of NYSE CVNA opened at $247.76 on Thursday. The firm has a market capitalization of $51.44 billion, a PE ratio of 24,800.30 and a beta of 3.38. Carvana has a one year low of $40.21 and a one year high of $268.34. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The business has a 50-day moving average price of $230.58 and a two-hundred day moving average price of $194.27.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the previous year, the firm posted $0.23 earnings per share. The business’s revenue for the quarter was up 31.8% on a year-over-year basis. As a group, analysts predict that Carvana will post 0.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Gregory B. Sullivan sold 5,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $235.00, for a total value of $1,175,000.00. Following the completion of the sale, the director now owns 53,407 shares in the company, valued at approximately $12,550,645. This trade represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel J. Gill sold 44,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $259.47, for a total value of $11,416,680.00. Following the transaction, the insider now owns 191,225 shares in the company, valued at $49,617,150.75. This represents a 18.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 347,340 shares of company stock valued at $81,044,588. Insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Several institutional investors have recently modified their holdings of the company. FMR LLC raised its stake in shares of Carvana by 90.8% in the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock valued at $2,152,311,000 after purchasing an additional 5,882,656 shares in the last quarter. Whale Rock Capital Management LLC acquired a new position in shares of Carvana in the 3rd quarter valued at $162,953,000. Lord Abbett & CO. LLC lifted its holdings in shares of Carvana by 1,454.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock worth $93,754,000 after acquiring an additional 503,824 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Carvana during the 2nd quarter valued at about $37,728,000. Finally, Eagle Asset Management Inc. bought a new stake in Carvana in the third quarter valued at about $50,531,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.