Robert W. Baird Increases Carvana (NYSE:CVNA) Price Target to $110.00

Carvana (NYSE:CVNA) had its price objective lifted by stock analysts at Robert W. Baird from $65.00 to $110.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 26.19% from the stock’s previous close.

CVNA has been the topic of a number of other reports. Evercore ISI decreased their price target on Carvana from $78.00 to $77.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. Jefferies Financial Group upgraded 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 research report on Tuesday, March 12th. Morgan Stanley lifted their price objective on Carvana from $32.00 to $45.00 and gave the stock an “underweight” rating in a research report on Monday, February 26th. Raymond James upgraded Carvana from an “underperform” rating to a “market perform” rating in a research report on Friday, February 23rd. Finally, William Blair raised Carvana from a “market perform” rating to an “outperform” rating in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Carvana currently has a consensus rating of “Hold” and an average price target of $63.31.

Carvana Stock Up 5.1 %

Shares of NYSE CVNA opened at $87.17 on Thursday. The business has a 50-day simple moving average of $78.71 and a two-hundred day simple moving average of $54.62. Carvana has a 52 week low of $6.70 and a 52 week high of $94.04. The company has a market cap of $17.60 billion, a P/E ratio of 161.43 and a beta of 3.28.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.97) earnings per share. Equities research analysts anticipate that Carvana will post -3.32 EPS for the current year.

Insider Buying and Selling at Carvana

In other news, major shareholder Ernest C. Garcia II sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $85.38, for a total value of $4,269,000.00. Following the completion of the sale, the insider now directly owns 3,212,500 shares of the company’s stock, valued at approximately $274,283,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Ernest C. Garcia II sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $85.38, for a total transaction of $4,269,000.00. Following the completion of the sale, the insider now directly owns 3,212,500 shares of the company’s stock, valued at approximately $274,283,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ernest C. Garcia III sold 9,390 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 861,458 shares of the company’s stock, valued at $71,354,566.14. The disclosure for this sale can be found here. Insiders sold 287,883 shares of company stock worth $23,778,678 in the last quarter. 17.12% of the stock is owned by corporate insiders.

Institutional Trading of Carvana

Several large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. acquired a new position in shares of Carvana in the 4th quarter valued at about $29,000. Hanseatic Management Services Inc. acquired a new position in Carvana in the 3rd quarter worth about $34,000. Parallel Advisors LLC raised its holdings in Carvana by 39.0% in the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares during the period. Harvest Fund Management Co. Ltd raised its holdings in Carvana by 1,225.6% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company’s stock worth $50,000 after purchasing an additional 1,103 shares during the period. Finally, Tidemark LLC acquired a new position in Carvana in the 4th quarter worth about $50,000. 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.