Carvana (NYSE:CVNA) Stock Price Expected to Rise, JMP Securities Analyst Says

Carvana (NYSE:CVNA) had its price target raised by analysts at JMP Securities from $200.00 to $320.00 in a report released on Thursday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price objective suggests a potential upside of 39.73% from the stock’s current price.

A number of other analysts have also weighed in on the stock. Royal Bank of Canada raised shares of Carvana to a “sector perform” rating and raised their price target for the company from $166.00 to $170.00 in a report on Monday, August 19th. Evercore ISI upped their price target on Carvana from $186.00 to $190.00 and gave the company an “in-line” rating in a research note on Wednesday. Morgan Stanley lifted their price objective on Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a research report on Thursday, August 1st. Jefferies Financial Group upped their target price on shares of Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Finally, Bank of America lifted their price target on shares of Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $208.88.

Carvana Stock Down 7.4 %

Shares of CVNA opened at $229.01 on Thursday. The company has a market capitalization of $47.39 billion, a P/E ratio of 22,901.00 and a beta of 3.44. Carvana has a one year low of $27.75 and a one year high of $259.39. The business’s 50 day simple moving average is $174.33 and its 200-day simple moving average is $137.76. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. Carvana’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.23 EPS. As a group, sell-side analysts predict that Carvana will post 0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $137.84, for a total transaction of $10,338,000.00. Following the completion of the sale, the insider now owns 1,240,814 shares of the company’s stock, valued at $171,033,801.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $137.84, for a total transaction of $10,338,000.00. Following the completion of the transaction, the insider now directly owns 1,240,814 shares in the company, valued at approximately $171,033,801.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ira J. Platt sold 12,178 shares of Carvana stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $130.33, for a total value of $1,587,158.74. Following the completion of the sale, the director now directly owns 43,229 shares in the company, valued at approximately $5,634,035.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,738,934 shares of company stock worth $463,538,905. Company insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Forum Financial Management LP boosted its position in Carvana by 3.8% during the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock valued at $361,000 after purchasing an additional 76 shares during the last quarter. Empirical Asset Management LLC grew its stake in shares of Carvana by 2.0% in the third quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock valued at $890,000 after buying an additional 100 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in Carvana by 6.0% during the third quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock worth $402,000 after buying an additional 130 shares during the last quarter. CWM LLC raised its position in Carvana by 19.5% during the second quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after acquiring an additional 144 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Carvana by 32.8% during the third quarter. GAMMA Investing LLC now owns 608 shares of the company’s stock worth $106,000 after acquiring an additional 150 shares in the last quarter. 56.71% of the stock is owned by institutional investors.

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.