Carvana (NYSE:CVNA) Stock Price Expected to Rise, Evercore ISI Analyst Says

Carvana (NYSE:CVNA) had its price target boosted by analysts at Evercore ISI from $295.00 to $305.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “in-line” rating on the stock. Evercore ISI’s price target suggests a potential downside of 5.34% from the company’s current price.

Several other research firms have also recently commented on CVNA. JMP Securities cut their price target on Carvana from $340.00 to $275.00 and set a “market outperform” rating for the company in a report on Wednesday, April 9th. Wall Street Zen cut Carvana from a “buy” rating to a “hold” rating in a research note on Saturday. Wedbush raised Carvana to a “hold” rating in a research report on Thursday, May 8th. Stephens reaffirmed an “overweight” rating and set a $300.00 target price on shares of Carvana in a research note on Monday, March 3rd. Finally, Citigroup increased their price objective on shares of Carvana from $280.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Carvana has a consensus rating of “Moderate Buy” and a consensus target price of $284.18.

Carvana Price Performance

NYSE:CVNA traded up $2.13 during trading hours on Tuesday, hitting $322.21. 930,852 shares of the stock were exchanged, compared to its average volume of 3,935,123. The company has a market cap of $69.00 billion, a P/E ratio of 113.25, a P/E/G ratio of 1.25 and a beta of 3.65. The firm’s fifty day moving average price is $285.11 and its 200 day moving average price is $242.97. Carvana has a 52-week low of $111.55 and a 52-week high of $351.43. The company has a current ratio of 3.81, a quick ratio of 2.70 and a debt-to-equity ratio of 2.97.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.76. The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $3.94 billion. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The firm’s quarterly revenue was up 38.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.23 EPS. As a group, equities research analysts anticipate that Carvana will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ernest C. Garcia III sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $303.97, for a total transaction of $3,039,700.00. Following the completion of the sale, the chief executive officer now owns 845,000 shares in the company, valued at $256,854,650. This represents a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $207.32, for a total transaction of $10,366,000.00. Following the completion of the sale, the chief operating officer now owns 128,116 shares of the company’s stock, valued at $26,561,009.12. This trade represents a 28.07% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,285,573 shares of company stock valued at $392,493,929. 16.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Carvana

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Securities Inc. grew its position in shares of Carvana by 50.0% in the fourth quarter. Principal Securities Inc. now owns 366 shares of the company’s stock valued at $74,000 after purchasing an additional 122 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Carvana by 79.2% in the fourth quarter. Venturi Wealth Management LLC now owns 224 shares of the company’s stock worth $46,000 after acquiring an additional 99 shares during the last quarter. Global Retirement Partners LLC lifted its position in shares of Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after acquiring an additional 78 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new stake in shares of Carvana during the fourth quarter valued at $4,982,000. Finally, IFP Advisors Inc raised its stake in Carvana by 21.4% in the 4th quarter. IFP Advisors Inc now owns 550 shares of the company’s stock valued at $112,000 after purchasing an additional 97 shares during the last quarter. 56.71% of the stock is currently 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.