Brokerages Set Carvana Co. (NYSE:CVNA) Price Target at $84.36

Shares of Carvana Co. (NYSE:CVNA) have received a consensus recommendation of “Hold” from the seventeen research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $87.29.

Several research firms have recently commented on CVNA. Needham & Company LLC reiterated a “hold” rating on shares of Carvana in a research note on Thursday, May 2nd. Evercore ISI raised their target price on shares of Carvana from $111.00 to $118.00 and gave the stock an “in-line” rating in a report on Thursday. Royal Bank of Canada lifted their price objective on shares of Carvana from $90.00 to $130.00 and gave the company a “sector perform” rating in a report on Thursday, May 2nd. Robert W. Baird lifted their price objective on shares of Carvana from $65.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Finally, TD Cowen lifted their price objective on shares of Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a report on Monday, April 29th.

Insider Buying and Selling

In other Carvana news, insider Thomas Taira sold 20,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $110.35, for a total value of $2,207,000.00. Following the transaction, the insider now directly owns 186,397 shares in the company, valued at approximately $20,568,908.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Stephen R. Palmer sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $86.75, for a total value of $433,750.00. Following the transaction, the vice president now directly owns 62,514 shares in the company, valued at approximately $5,423,089.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thomas Taira sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $110.35, for a total transaction of $2,207,000.00. Following the completion of the transaction, the insider now owns 186,397 shares in the company, valued at $20,568,908.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,581,829 shares of company stock worth $167,561,683. 17.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Carvana

Large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its stake in Carvana by 56.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock worth $32,684,000 after buying an additional 280,851 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in shares of Carvana in the 3rd quarter valued at $2,200,000. UBS Group AG boosted its holdings in shares of Carvana by 132.6% in the 3rd quarter. UBS Group AG now owns 81,620 shares of the company’s stock valued at $3,426,000 after buying an additional 331,892 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Carvana by 13.8% in the 3rd quarter. Deutsche Bank AG now owns 50,439 shares of the company’s stock valued at $2,117,000 after buying an additional 6,129 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Carvana by 3.3% in the 3rd quarter. Rhumbline Advisers now owns 149,633 shares of the company’s stock valued at $6,282,000 after buying an additional 4,785 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Up 2.8 %

Shares of CVNA opened at $112.93 on Wednesday. The company has a market cap of $22.88 billion, a price-to-earnings ratio of 49.53 and a beta of 3.29. Carvana has a twelve month low of $20.60 and a twelve month high of $129.00. The company has a 50 day moving average of $102.06 and a two-hundred day moving average of $75.12.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.35. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.72 billion. On average, sell-side analysts expect that Carvana will post -0.75 EPS for the current year.

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.