JMP Securities Issues Pessimistic Forecast for Carvana (NYSE:CVNA) Stock Price

Carvana (NYSE:CVNA) had its target price dropped by equities researchers at JMP Securities from $340.00 to $275.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price target would indicate a potential upside of 35.51% from the company’s current price.

Other research analysts have also issued reports about the stock. Piper Sandler raised shares of Carvana from a “neutral” rating to an “overweight” rating in a research note on Monday, March 31st. Citigroup reduced their price objective on Carvana from $320.00 to $280.00 and set a “buy” rating on the stock in a research report on Tuesday. Wedbush set a $250.00 target price on Carvana and gave the company a “neutral” rating in a report on Wednesday, February 19th. Wells Fargo & Company reduced their price target on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $340.00 price objective on shares of Carvana in a report on Friday, March 7th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $253.59.

Carvana Stock Down 7.9 %

Shares of CVNA opened at $202.94 on Wednesday. The stock has a 50 day moving average price of $217.21 and a 200 day moving average price of $219.98. 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 stock has a market capitalization of $43.26 billion, a price-to-earnings ratio of 129.26 and a beta of 3.61. Carvana has a one year low of $67.61 and a one year high of $292.84.

Carvana (NYSE:CVNA) last released 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. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. Equities research analysts forecast that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the sale, the chief operating officer now owns 196,278 shares of the company’s stock, valued at approximately $35,033,660.22. This represents a 20.30 % decrease in their ownership of the stock. 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 1,362 shares of Carvana stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the transaction, the insider now owns 153,240 shares of the company’s stock, valued at $41,387,059.20. This trade represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 330,810 shares of company stock valued at $69,243,820. 16.36% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Carvana

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quent Capital LLC acquired a new stake in shares of Carvana in the fourth quarter valued at $28,000. Global Retirement Partners LLC raised its position in Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Rialto Wealth Management LLC purchased a new position in shares of Carvana in the 4th quarter valued at about $31,000. ORG Wealth Partners LLC acquired a new position in shares of Carvana during the fourth quarter worth about $34,000. Finally, Versant Capital Management Inc purchased a new stake in shares of Carvana during the fourth quarter worth approximately $42,000. Hedge funds and other 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.