Carvana’s (CVNA) “Market Outperform” Rating Reiterated at JMP Securities

Carvana (NYSE:CVNA)‘s stock had its “market outperform” rating restated by investment analysts at JMP Securities in a report issued on Monday,Benzinga reports. They currently have a $320.00 price objective on the stock. JMP Securities’ target price suggests a potential upside of 26.06% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company lifted their price target on shares of Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Wedbush lifted their target price on Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Jefferies Financial Group increased their price target on Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Stephens initiated coverage on Carvana in a report on Thursday, September 12th. They set an “overweight” rating and a $190.00 price objective on the stock. Finally, Citigroup upped their target price on Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $222.71.

Carvana Price Performance

CVNA stock opened at $253.84 on Monday. The firm has a market cap of $52.70 billion, a P/E ratio of 25,384.00 and a beta of 3.32. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. Carvana has a 1 year low of $40.21 and a 1 year high of $268.34. The stock has a 50-day simple moving average of $231.41 and a 200-day simple moving average of $171.52.

Carvana (NYSE:CVNA) last issued its quarterly earnings data 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 firm had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. The firm’s revenue was up 31.8% compared to the same quarter last year. During the same period last year, the business earned $0.23 EPS. On average, equities analysts predict that Carvana will post 0.76 earnings per share for the current fiscal year.

Insider Transactions at Carvana

In other news, insider Ryan S. Keeton sold 24,845 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the sale, the insider now directly owns 151,029 shares in the company, valued at approximately $37,440,089.10. This represents a 14.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul W. Breaux sold 14,548 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $198.00, for a total value of $2,880,504.00. Following the transaction, the insider now owns 119,494 shares of the company’s stock, valued at $23,659,812. This represents a 10.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,971,908 shares of company stock worth $379,874,785. 17.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Carvana

Several institutional investors have recently modified their holdings of the company. Sugarloaf Wealth Management LLC acquired a new stake in Carvana in the 3rd quarter valued at approximately $32,000. Capital Performance Advisors LLP bought a new position in shares of Carvana in the third quarter worth $40,000. Ridgewood Investments LLC acquired a new position in shares of Carvana during the second quarter valued at $32,000. First Horizon Advisors Inc. raised its stake in shares of Carvana by 363.0% during the third quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock valued at $44,000 after purchasing an additional 196 shares in the last quarter. Finally, Summit Securities Group LLC lifted its holdings in Carvana by 110.0% in the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 3,300 shares during the period. 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.