Carvana Co. (NYSE:CVNA) Receives $50.60 Consensus PT from Analysts

Carvana Co. (NYSE:CVNA) has been given a consensus rating of “Hold” by the fourteen brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $50.60.

Several research firms recently commented on CVNA. JMP Securities upped their target price on shares of Carvana from $60.00 to $80.00 and gave the company a “market outperform” rating in a research note on Friday, February 23rd. Evercore ISI upped their price objective on shares of Carvana from $75.00 to $78.00 and gave the company an “in-line” rating in a research report on Tuesday, April 2nd. William Blair raised Carvana from a “market perform” rating to an “outperform” rating in a research report on Friday, February 23rd. Morgan Stanley upped their price target on Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a report on Monday, February 26th. Finally, Jefferies Financial Group raised Carvana from an “underperform” rating to a “hold” rating and lifted their price objective for the stock from $30.00 to $85.00 in a report on Tuesday, March 12th.

Insider Buying and Selling at Carvana

In other news, CEO Ernest C. Garcia III sold 9,390 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $82.83, for a total value of $777,773.70. Following the completion of the sale, the chief executive officer now directly owns 861,458 shares in the company, valued at $71,354,566.14. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Ernest C. Garcia III sold 9,390 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $82.83, for a total transaction of $777,773.70. Following the transaction, the chief executive officer now directly owns 861,458 shares in the company, valued at $71,354,566.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul W. Breaux sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the completion of the sale, the insider now directly owns 150,126 shares of the company’s stock, valued at approximately $10,358,694. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,883 shares of company stock worth $11,498,678. 17.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Carvana

Large investors have recently made changes to their positions in the company. Morgan Stanley raised its holdings in Carvana by 65.1% during the 4th quarter. Morgan Stanley now owns 14,083,153 shares of the company’s stock worth $66,754,000 after purchasing an additional 5,554,691 shares during the last quarter. Spruce House Investment Management LLC boosted its stake in Carvana by 52.7% during the 4th quarter. Spruce House Investment Management LLC now owns 10,000,000 shares of the company’s stock worth $47,400,000 after acquiring an additional 3,450,000 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Carvana in the fourth quarter valued at approximately $14,102,000. FMR LLC boosted its position in shares of Carvana by 143.7% during the first quarter. FMR LLC now owns 4,667,263 shares of the company’s stock worth $45,693,000 after purchasing an additional 2,752,097 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Carvana by 46.8% in the 1st quarter. Vanguard Group Inc. now owns 7,297,426 shares of the company’s stock valued at $870,511,000 after buying an additional 2,325,545 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Stock Performance

NYSE CVNA opened at $80.45 on Friday. The stock has a 50-day simple moving average of $72.45 and a 200 day simple moving average of $51.06. Carvana has a twelve month low of $6.70 and a twelve month high of $94.04. The stock has a market capitalization of $16.24 billion, a PE ratio of 148.98 and a beta of 3.32.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the prior year, the company posted ($0.97) earnings per share. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. As a group, equities research analysts forecast that Carvana will post -3.4 EPS for the current fiscal year.

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.