Carvana (NYSE:CVNA) Price Target Raised to $260.00 at DA Davidson

Carvana (NYSE:CVNA) had its price objective increased by equities research analysts at DA Davidson from $220.00 to $260.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. DA Davidson’s target price points to a potential upside of 8.81% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $110.00 to $260.00 in a research report on Tuesday, November 5th. Wells Fargo & Company dropped their price target on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Carvana in a research note on Monday, December 16th. Royal Bank of Canada raised their price target on shares of Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their price target on shares of Carvana from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.00.

Carvana Stock Down 15.2 %

NYSE:CVNA traded down $42.86 during trading hours on Thursday, reaching $238.96. 8,271,920 shares of the stock were exchanged, compared to its average volume of 3,845,895. Carvana has a twelve month low of $48.15 and a twelve month high of $292.84. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The firm has a 50 day moving average of $234.84 and a 200 day moving average of $206.90. The stock has a market cap of $49.62 billion, a PE ratio of 23,897.50 and a beta of 3.37.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. On average, equities analysts expect that Carvana will post 0.87 earnings per share for the current year.

Insider Activity at Carvana

In other news, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $255.07, for a total value of $2,550,700.00. Following the completion of the sale, the chief financial officer now directly owns 189,761 shares in the company, valued at approximately $48,402,338.27. The trade was a 5.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ira J. Platt sold 25,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $244.30, for a total transaction of $6,107,500.00. Following the sale, the director now owns 5,227 shares of the company’s stock, valued at $1,276,956.10. This represents a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 173,629 shares of company stock valued at $44,833,799. Corporate insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Several institutional investors have recently made changes to their positions in CVNA. Fidelis Capital Partners LLC raised its stake in Carvana by 3.4% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock worth $313,000 after acquiring an additional 51 shares during the period. Bleakley Financial Group LLC lifted its position in Carvana by 2.8% in the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock worth $483,000 after buying an additional 65 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Carvana by 21.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock worth $87,000 after purchasing an additional 74 shares during the last quarter. Forum Financial Management LP raised its holdings in shares of Carvana by 3.8% in the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock valued at $361,000 after acquiring an additional 76 shares in the last quarter. Finally, Great Lakes Advisors LLC grew its stake in Carvana by 2.1% in the fourth quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock valued at $752,000 after purchasing an additional 77 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

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.