JMP Securities Raises Carvana (NYSE:CVNA) Price Target to $320.00

Carvana (NYSE:CVNA) had its price objective boosted by stock analysts at JMP Securities from $200.00 to $320.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price objective would suggest a potential upside of 29.40% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Citigroup boosted their price objective on shares of Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Wells Fargo & Company upped their target price on shares of Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Wedbush upped their target price 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. Stephens initiated coverage on shares of Carvana in a report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price target on the stock. Finally, BTIG Research upped their price target on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $208.88.

Carvana Stock Up 19.3 %

CVNA stock traded up $39.98 during midday trading on Thursday, hitting $247.29. The company’s stock had a trading volume of 12,488,411 shares, compared to its average volume of 4,821,527. Carvana has a 52-week low of $25.09 and a 52-week high of $259.39. The firm has a 50-day simple moving average of $171.06 and a 200-day simple moving average of $135.88. The firm has a market capitalization of $50.09 billion, a P/E ratio of 111.11 and a beta of 3.44. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the prior year, the business earned $0.23 earnings per share. Carvana’s revenue was up 31.8% compared to the same quarter last year. As a group, equities analysts forecast that Carvana will post 0.29 EPS for the current year.

Insider Buying and Selling

In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $137.84, for a total transaction of $10,338,000.00. Following the sale, the insider now directly owns 1,240,814 shares in the company, valued at approximately $171,033,801.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $137.84, for a total transaction of $10,338,000.00. Following the completion of the transaction, the insider now directly owns 1,240,814 shares of the company’s stock, valued at $171,033,801.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ira J. Platt sold 7,338 shares of Carvana stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $141.62, for a total transaction of $1,039,207.56. Following the transaction, the director now directly owns 30,891 shares of the company’s stock, valued at approximately $4,374,783.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,780,891 shares of company stock valued at $465,902,485 in the last 90 days. 17.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CVNA. Vanguard Group Inc. raised its position in Carvana by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock valued at $904,642,000 after buying an additional 266,972 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Carvana by 39.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock valued at $655,727,000 after buying an additional 2,112,463 shares in the last quarter. Lingotto Investment Management LLP increased its stake in Carvana by 1.4% in the 2nd quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock worth $486,143,000 after purchasing an additional 52,833 shares during the period. Renaissance Technologies LLC grew its position in shares of Carvana by 12.2% in the 2nd quarter. Renaissance Technologies LLC now owns 813,400 shares of the company’s stock worth $104,701,000 after buying an additional 88,500 shares during the last quarter. Finally, Driehaus Capital Management LLC boosted its position in shares of Carvana by 124.9% during the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after purchasing an additional 323,153 shares in the last quarter. Institutional investors and hedge funds 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.