Carvana (NYSE:CVNA) Upgraded at Piper Sandler

Piper Sandler upgraded shares of Carvana (NYSE:CVNA) from a neutral rating to an overweight rating in a research note published on Thursday morning, Marketbeat Ratings reports. They currently have $225.00 price target on the stock.

A number of other research firms also recently commented on CVNA. Needham & Company LLC reiterated a “buy” rating and issued a $340.00 price objective on shares of Carvana in a report on Friday, March 7th. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price objective on shares of Carvana in a report on Monday, December 16th. DA Davidson boosted their target price on Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. William Blair reissued an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. Finally, Robert W. Baird boosted their target price on Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $262.71.

Carvana Price Performance

Carvana stock opened at $191.38 on Thursday. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The firm has a market cap of $40.80 billion, a P/E ratio of 121.90 and a beta of 3.56. The business’s fifty day moving average is $227.57 and its two-hundred day moving average is $214.95. Carvana has a 52 week low of $67.61 and a 52 week high of $292.84.

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

Insider Activity at Carvana

In related news, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the completion of the transaction, the chief financial officer now directly owns 189,097 shares of the company’s stock, valued at approximately $37,961,222.75. This represents a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $178.49, for a total value of $8,924,500.00. Following the completion of the sale, the chief operating officer now owns 196,278 shares in the company, valued at $35,033,660.22. This represents a 20.30 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,784 shares of company stock valued at $27,524,344. Insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

A number of large investors have recently made changes to their positions in CVNA. FMR LLC increased its stake in shares of Carvana by 90.8% during the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after purchasing an additional 5,882,656 shares during the period. Whale Rock Capital Management LLC bought a new position in Carvana during the 3rd quarter worth $162,953,000. Norges Bank bought a new position in Carvana during the 4th quarter worth $179,364,000. Vanguard Group Inc. increased its stake in Carvana by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock worth $2,323,463,000 after acquiring an additional 610,234 shares during the period. Finally, Castle Hook Partners LP bought a new position in Carvana during the 4th quarter worth $116,020,000. 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.