Carvana (NYSE:CVNA) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Carvana (NYSE:CVNA) from an underweight rating to an equal weight rating in a report released on Tuesday, Marketbeat Ratings reports. Morgan Stanley currently has $260.00 price target on the stock, up from their prior price target of $110.00.

Several other research firms also recently weighed in on CVNA. Bank of America raised their price target on shares of Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Piper Sandler upped their target price on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. DA Davidson lifted their price target on Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. raised their price objective on shares of Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Citigroup boosted their target price on shares of Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $217.71.

Carvana Price Performance

NYSE CVNA traded up $3.31 on Tuesday, hitting $244.74. The company had a trading volume of 142,835 shares, compared to its average volume of 4,777,795. 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 company’s fifty day moving average price is $180.75 and its 200-day moving average price is $142.34. The company has a market capitalization of $50.65 billion, a PE ratio of 24,168.17 and a beta of 3.37. Carvana has a 12-month low of $27.75 and a 12-month high of $259.39.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates 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. The firm’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 EPS. As a group, analysts predict that Carvana will post 0.53 earnings per share for the current year.

Insiders Place Their Bets

In other 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 value of $730,320.00. Following the completion of the transaction, the chief operating officer now owns 218,686 shares of the company’s stock, valued at approximately $52,484,640. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, COO Benjamin E. Huston sold 3,043 shares of the stock in a transaction 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark W. Jenkins sold 20,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $241.78, for a total value of $4,835,600.00. Following the transaction, the chief financial officer now directly owns 170,732 shares of the company’s stock, valued at $41,279,582.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,810,251 shares of company stock worth $494,577,629 over the last three months. Company insiders own 17.18% of the company’s stock.

Institutional Investors Weigh In On Carvana

Institutional investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC increased its holdings in shares of Carvana by 11.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,687 shares of the company’s stock valued at $412,000 after acquiring an additional 500 shares during the period. GSA Capital Partners LLP purchased a new position in Carvana during the 1st quarter worth $969,000. Quantbot Technologies LP acquired a new position in Carvana in the first quarter valued at $1,321,000. SG Americas Securities LLC raised its holdings in shares of Carvana by 315.6% in the first quarter. SG Americas Securities LLC now owns 9,176 shares of the company’s stock valued at $807,000 after buying an additional 6,968 shares during the last quarter. Finally, Lisanti Capital Growth LLC acquired a new stake in shares of Carvana during the first quarter worth about $3,039,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.