Carvana (NYSE:CVNA) had its target price upped by JMP Securities from $250.00 to $290.00 in a research note released on Thursday, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.
Several other research analysts also recently weighed in on CVNA. Bank of America lifted their target price on Carvana from $230.00 to $276.00 in a research note on Tuesday, January 12th. Jefferies Financial Group started coverage on Carvana in a research note on Friday, December 4th. They issued a buy rating and a $300.00 target price on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on Carvana from $165.00 to $225.00 and gave the company a hold rating in a research note on Thursday, November 5th. Citigroup lifted their target price on Carvana from $305.00 to $350.00 in a research note on Tuesday, March 2nd. Finally, Morgan Stanley raised Carvana from an equal weight rating to an overweight rating and set a $420.00 price target for the company in a report on Friday, February 26th. Two analysts have rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $255.11.
NYSE:CVNA opened at $261.54 on Thursday. The stock’s 50 day moving average price is $283.86 and its 200 day moving average price is $238.30. The company has a market capitalization of $44.93 billion, a PE ratio of -95.80 and a beta of 2.52. The company has a quick ratio of 1.42, a current ratio of 3.18 and a debt-to-equity ratio of 1.12. Carvana has a 52-week low of $22.16 and a 52-week high of $323.39.
Carvana (NYSE:CVNA) last released its quarterly earnings results on Thursday, February 25th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.07. Carvana had a negative return on equity of 43.19% and a negative net margin of 3.06%. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.59 billion. As a group, sell-side analysts anticipate that Carvana will post -2.29 EPS for the current fiscal year.
In other news, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction on Tuesday, December 8th. The stock was sold at an average price of $259.35, for a total value of $2,593,500.00. Following the completion of the sale, the chief financial officer now owns 43,828 shares of the company’s stock, valued at $11,366,791.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 1,610 shares of Carvana stock in a transaction on Wednesday, March 3rd. The shares were sold at an average price of $310.66, for a total value of $500,162.60. Following the completion of the sale, the insider now directly owns 200 shares of the company’s stock, valued at approximately $62,132. The disclosure for this sale can be found here. Insiders have sold 889,303 shares of company stock valued at $246,767,432 in the last three months. 12.25% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Carvana in the third quarter valued at $1,445,000. State of Wisconsin Investment Board grew its position in Carvana by 338.3% during the fourth quarter. State of Wisconsin Investment Board now owns 32,092 shares of the company’s stock valued at $7,687,000 after acquiring an additional 24,770 shares during the period. ExodusPoint Capital Management LP purchased a new stake in Carvana during the third quarter valued at about $9,845,000. California State Teachers Retirement System grew its position in Carvana by 2.5% during the third quarter. California State Teachers Retirement System now owns 96,482 shares of the company’s stock valued at $21,521,000 after acquiring an additional 2,376 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its position in Carvana by 13.2% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 75,053 shares of the company’s stock valued at $17,978,000 after acquiring an additional 8,760 shares during the period. 48.41% of the stock is owned by institutional investors and hedge funds.
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.
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