Investment Analysts’ Weekly Ratings Changes for Carvana (CVNA)

Carvana (NYSE: CVNA) recently received a number of ratings updates from brokerages and research firms:

• 7/2/2024 – Carvana had its price target raised by analysts at Evercore ISI from $118.00 to $135.00. They now have an “in-line” rating on the stock.
• 6/26/2024 – Carvana had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $120.00 price target on the stock.
• 6/26/2024 – Carvana had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 6/20/2024 – Carvana had its price target raised by analysts at Evercore ISI from $111.00 to $118.00. They now have an “in-line” rating on the stock.
• 6/10/2024 – Carvana had its price target raised by analysts at JPMorgan Chase & Co. from $130.00 to $150.00. They now have an “overweight” rating on the stock.
• 6/7/2024 – Carvana had its price target raised by analysts at JMP Securities from $135.00 to $150.00. They now have a “market outperform” rating on the stock.
• 5/14/2024 – Carvana had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $135.00 price target on the stock.

Carvana Price Performance

NYSE:CVNA opened at $127.84 on Friday. The business’s 50-day moving average is $111.89 and its two-hundred day moving average is $80.41. The firm has a market capitalization of $25.90 billion, a PE ratio of 56.07 and a beta of 3.37. Carvana Co. has a 12 month low of $23.43 and a 12 month high of $136.92.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, May 1st. The company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.35. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $2.72 billion. Equities analysts anticipate that Carvana Co. will post -0.75 EPS for the current year.

Insider Activity

In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $125.43, for a total value of $9,407,250.00. Following the transaction, the insider now owns 2,917,500 shares in the company, valued at approximately $365,942,025. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Thomas Taira sold 68,556 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $102.74, for a total transaction of $7,043,443.44. Following the completion of the sale, the insider now owns 186,397 shares of the company’s stock, valued at $19,150,427.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $125.43, for a total transaction of $9,407,250.00. Following the completion of the sale, the insider now directly owns 2,917,500 shares in the company, valued at $365,942,025. The disclosure for this sale can be found here. Insiders have sold 1,923,946 shares of company stock worth $212,520,806 over the last 90 days. Company insiders own 17.18% of the company’s stock.

Institutional Investors Weigh In On Carvana

A number of institutional investors have recently modified their holdings of the stock. Blue Trust Inc. acquired a new position in Carvana in the fourth quarter worth $29,000. Parallel Advisors LLC boosted its holdings in shares of Carvana by 39.0% in the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after buying an additional 194 shares during the period. Tidemark LLC bought a new stake in shares of Carvana during the 4th quarter valued at about $50,000. Plato Investment Management Ltd acquired a new stake in Carvana during the first quarter worth about $55,000. Finally, GAMMA Investing LLC lifted its holdings in Carvana by 127.9% in the second quarter. GAMMA Investing LLC now owns 458 shares of the company’s stock worth $59,000 after acquiring an additional 257 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.