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

Carvana (NYSE:CVNA) had its target price raised by analysts at JMP Securities from $200.00 to $320.00 in a report released on Thursday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price target indicates a potential upside of 39.73% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Bank of America lifted their price objective on shares of Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Stephens started coverage on Carvana in a research note on Thursday, September 12th. They set an “overweight” rating and a $190.00 target price for the company. Piper Sandler upped their price objective on shares of Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Robert W. Baird increased their price target on Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Carvana has an average rating of “Hold” and a consensus price target of $208.88.

Carvana Stock Down 7.4 %

CVNA stock opened at $229.01 on Thursday. The business’s fifty day moving average price is $174.33 and its two-hundred day moving average price is $137.76. The stock has a market capitalization of $47.39 billion, a price-to-earnings ratio of 22,901.00 and a beta of 3.44. Carvana has a fifty-two week low of $27.75 and a fifty-two week high of $259.39. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.47 billion. The company’s quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 earnings per share. On average, equities analysts anticipate that Carvana will post 0.26 earnings per share for the current year.

Insider Transactions at Carvana

In other Carvana news, COO Benjamin E. Huston sold 3,043 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $240.00, for a total transaction of $730,320.00. Following the sale, the chief operating officer now directly owns 218,686 shares of the company’s stock, valued at $52,484,640. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Daniel J. Gill sold 30,000 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $175.00, for a total value of $5,250,000.00. Following the sale, the insider now owns 328,329 shares in the company, valued at approximately $57,457,575. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Benjamin E. Huston sold 3,043 shares of Carvana stock in a transaction 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 sale, the chief operating officer now directly owns 218,686 shares of the company’s stock, valued at $52,484,640. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,738,934 shares of company stock worth $463,538,905 in the last quarter. Insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new position in shares of Carvana during the 3rd quarter valued at about $40,000. Hanseatic Management Services Inc. grew its position in Carvana by 23.3% during the third quarter. Hanseatic Management Services Inc. now owns 1,021 shares of the company’s stock valued at $178,000 after acquiring an additional 193 shares during the last quarter. QRG Capital Management Inc. raised its stake in shares of Carvana by 16.2% during the third quarter. QRG Capital Management Inc. now owns 6,713 shares of the company’s stock worth $1,169,000 after acquiring an additional 935 shares in the last quarter. Forum Financial Management LP lifted its holdings in shares of Carvana by 3.8% in the 3rd quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock worth $361,000 after acquiring an additional 76 shares during the last quarter. Finally, CacheTech Inc. purchased a new stake in shares of Carvana in the 3rd quarter valued at $224,000. 56.71% of the stock is currently owned by institutional investors.

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.