Carvana Co. (NYSE:CVNA) Receives Average Recommendation of “Hold” from Brokerages

Carvana Co. (NYSE:CVNA) has earned an average rating of “Hold” from the nineteen research firms that are presently covering the firm, MarketBeat.com reports. Eleven investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $222.71.

Several analysts have issued reports on CVNA shares. Jefferies Financial Group upped their price target on shares of Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. JMP Securities increased their price objective on shares of Carvana from $200.00 to $320.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Piper Sandler increased their price objective on shares of Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Royal Bank of Canada raised shares of Carvana to a “sector perform” rating and increased their price objective for the company from $166.00 to $170.00 in a research report on Monday, August 19th. Finally, Stephens initiated coverage on shares of Carvana in a research report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price objective on the stock.

Carvana Stock Performance

NYSE CVNA opened at $236.47 on Wednesday. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The firm’s fifty day moving average price is $224.38 and its two-hundred day moving average price is $166.35. Carvana has a 1 year low of $37.47 and a 1 year high of $268.34. The firm has a market capitalization of $49.10 billion, a P/E ratio of 23,646.50 and a beta of 3.32.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period last year, the company posted $0.23 earnings per share. The business’s revenue was up 31.8% compared to the same quarter last year. As a group, research analysts anticipate that Carvana will post 0.76 EPS for the current year.

Insiders Place Their Bets

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $255.07, for a total transaction of $2,550,700.00. Following the sale, the chief financial officer now directly owns 189,761 shares in the company, valued at $48,402,338.27. This represents a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Benjamin E. Huston sold 3,043 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $240.00, for a total transaction of $730,320.00. Following the sale, the chief operating officer now owns 218,686 shares in the company, valued at $52,484,640. The trade was a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,022,063 shares of company stock worth $383,108,209 over the last ninety days. Corporate insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

Large investors have recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Carvana by 90.8% in the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after acquiring an additional 5,882,656 shares during the last quarter. Whale Rock Capital Management LLC bought a new position in shares of Carvana in the third quarter worth about $162,953,000. Sylebra Capital LLC bought a new position in shares of Carvana in the second quarter worth about $67,686,000. Senator Investment Group LP bought a new position in shares of Carvana in the second quarter worth about $63,767,000. Finally, Driehaus Capital Management LLC lifted its holdings in shares of Carvana by 124.9% in the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after acquiring an additional 323,153 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.