Carvana Co. (NYSE:CVNA) Receives $229.18 Consensus Price Target from Analysts

Shares of Carvana Co. (NYSE:CVNA) have been given an average recommendation of “Moderate Buy” by the nineteen ratings firms that are covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $241.94.

A number of equities analysts recently commented on CVNA shares. Morgan Stanley upgraded Carvana from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $110.00 to $260.00 in a research note on Tuesday, November 5th. Evercore ISI boosted their price target on Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a report on Tuesday, December 3rd. Citigroup upgraded Carvana from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $195.00 to $277.00 in a research note on Wednesday. Jefferies Financial Group boosted their target price on shares of Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company decreased their price target on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, January 6th.

Insider Transactions at Carvana

In related news, COO Benjamin E. Huston sold 3,043 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $240.00, for a total transaction of $730,320.00. Following the transaction, the chief operating officer now owns 218,686 shares in the company, valued at $52,484,640. This trade represents a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total value of $2,007,500.00. Following the completion of the sale, the chief financial officer now owns 189,097 shares of the company’s stock, valued at $37,961,222.75. This trade represents a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 951,908 shares of company stock valued at $199,569,285. 17.12% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Carvana

Several hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in Carvana by 3,218.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,318 shares of the company’s stock worth $427,000 after acquiring an additional 3,218 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of Carvana by 5.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 4,976 shares of the company’s stock worth $641,000 after purchasing an additional 270 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Carvana by 22.3% during the second quarter. CIBC Asset Management Inc now owns 3,251 shares of the company’s stock valued at $418,000 after purchasing an additional 593 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Carvana by 45.4% during the second quarter. Victory Capital Management Inc. now owns 27,117 shares of the company’s stock worth $3,490,000 after buying an additional 8,467 shares in the last quarter. Finally, Arizona State Retirement System grew its position in Carvana by 3.9% in the second quarter. Arizona State Retirement System now owns 27,669 shares of the company’s stock worth $3,562,000 after buying an additional 1,032 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Performance

Shares of CVNA opened at $193.40 on Friday. Carvana has a 52-week low of $40.21 and a 52-week high of $268.34. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The firm has a market cap of $40.16 billion, a price-to-earnings ratio of 19,359.36 and a beta of 3.38. The business’s 50 day moving average is $234.21 and its two-hundred day moving average is $183.69.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. The company’s revenue was up 31.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 earnings per share. Analysts forecast that Carvana will post 0.76 EPS for the current fiscal year.

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.