Carvana (NYSE:CVNA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Carvana (NYSE:CVNA) had its price target hoisted by JPMorgan Chase & Co. from $230.00 to $300.00 in a report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

CVNA has been the subject of several other reports. Wedbush boosted their price objective on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Bank of America upped their price target on shares of Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Piper Sandler upped their price target on shares of Carvana from $105.00 to $151.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Citigroup upped their price target on shares of Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. Finally, Morgan Stanley upped their price target on shares of Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $208.88.

Carvana Price Performance

NYSE:CVNA opened at $229.08 on Thursday. The firm has a market cap of $47.41 billion, a price-to-earnings ratio of 22,930.93 and a beta of 3.37. The company has a current ratio of 3.25, a quick ratio of 2.02 and a debt-to-equity ratio of 18.99. The company’s 50-day moving average is $174.33 and its two-hundred day moving average is $137.76. Carvana has a 12-month low of $27.75 and a 12-month high of $259.39.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate 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 prior year, the firm earned $0.23 earnings per share. The firm’s quarterly revenue was up 31.8% on a year-over-year basis. Research analysts expect that Carvana will post 0.26 EPS for the current year.

Insider Transactions at Carvana

In other news, COO Benjamin E. Huston sold 3,043 shares of Carvana stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $240.00, for a total value of $730,320.00. Following the completion of the transaction, the chief operating officer now owns 218,686 shares in the company, valued at approximately $52,484,640. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Benjamin E. Huston sold 3,043 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $240.00, for a total value of $730,320.00. Following the transaction, the chief operating officer now directly owns 218,686 shares in the company, valued at approximately $52,484,640. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ira J. Platt sold 664 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $150.00, for a total transaction of $99,600.00. Following the completion of the transaction, the director now owns 30,227 shares in the company, valued at approximately $4,534,050. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,738,934 shares of company stock valued at $463,538,905. Insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sugarloaf Wealth Management LLC acquired a new stake in shares of Carvana in the third quarter valued at approximately $32,000. Capital Performance Advisors LLP bought a new stake in shares of Carvana during the third quarter valued at approximately $40,000. Ridgewood Investments LLC bought a new stake in shares of Carvana during the second quarter valued at approximately $32,000. Summit Securities Group LLC raised its holdings in shares of Carvana by 110.0% during the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 3,300 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in Carvana by 450.8% during the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

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.