Carvana (NYSE:CVNA) Price Target Cut to $240.00 by Analysts at Evercore ISI

Carvana (NYSE:CVNA) had its price objective decreased by Evercore ISI from $250.00 to $240.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “in-line” rating on the stock. Evercore ISI’s price objective indicates a potential upside of 33.62% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $340.00 price objective on shares of Carvana in a report on Friday, March 7th. Bank of America increased their price objective on shares of Carvana from $252.00 to $270.00 and gave the company a “buy” rating in a report on Friday, February 21st. William Blair restated an “outperform” rating on shares of Carvana in a report on Thursday, February 20th. Stephens restated an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a report on Monday, March 3rd. Finally, Robert W. Baird increased their price objective on shares of Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and an average price target of $265.65.

Carvana Price Performance

Shares of CVNA stock opened at $179.62 on Tuesday. Carvana has a 1 year low of $67.61 and a 1 year high of $292.84. The firm’s 50 day moving average is $229.54 and its 200-day moving average is $213.65. The firm has a market capitalization of $38.29 billion, a price-to-earnings ratio of 114.41 and a beta of 3.56. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. Sell-side analysts forecast that Carvana will post 2.85 EPS for the current fiscal year.

Insider Activity

In other Carvana news, insider Paul W. Breaux sold 1,362 shares of Carvana stock in a transaction on Monday, February 10th. The shares were sold at an average price of $270.08, for a total value of $367,848.96. Following the sale, the insider now directly owns 153,240 shares in the company, valued at approximately $41,387,059.20. The trade was a 0.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the sale, the chief financial officer now directly owns 219,962 shares in the company, valued at $55,016,895.44. This trade represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,784 shares of company stock worth $18,599,844 over the last three months. Corporate insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC boosted its stake in shares of Carvana by 90.8% during the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after acquiring an additional 5,882,656 shares during the period. Whale Rock Capital Management LLC bought a new stake in Carvana in the 3rd quarter valued at $162,953,000. Norges Bank acquired a new stake in Carvana during the 4th quarter valued at $179,364,000. Vanguard Group Inc. boosted its position in Carvana by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock worth $2,323,463,000 after purchasing an additional 610,234 shares during the period. Finally, Castle Hook Partners LP acquired a new position in shares of Carvana in the fourth quarter valued at $116,020,000. Institutional investors and hedge funds 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.