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

Carvana (NYSE:CVNA) had its target price increased by Citigroup from $277.00 to $320.00 in a report released on Friday, Marketbeat reports. Citigroup currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Piper Sandler boosted their price target on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. DA Davidson raised their price target on shares of Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Carvana from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Wedbush reissued a “neutral” rating and issued a $250.00 target price on shares of Carvana in a report on Thursday, February 6th. Finally, Evercore ISI upped their target price on Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a report on Tuesday, December 3rd. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and an average target price of $265.06.

Carvana Stock Down 9.9 %

CVNA stock opened at $223.14 on Friday. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The firm has a 50 day simple moving average of $234.35 and a 200-day simple moving average of $208.84. The company has a market capitalization of $46.33 billion, a P/E ratio of 142.13 and a beta of 3.37. Carvana has a twelve month low of $49.38 and a twelve month high of $292.84.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.27. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. On average, equities research analysts predict that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In related news, CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $255.07, for a total transaction of $2,550,700.00. Following the completion of the sale, the chief financial officer now directly owns 189,761 shares of the company’s stock, valued at approximately $48,402,338.27. This represents a 5.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan S. Keeton sold 24,845 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the transaction, the insider now owns 151,029 shares of the company’s stock, valued at approximately $37,440,089.10. The trade was a 14.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 173,629 shares of company stock valued at $44,833,799 in the last quarter. Company insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Mackenzie Financial Corp bought a new position in Carvana during the 4th quarter worth approximately $1,153,000. Toronto Dominion Bank bought a new position in shares of Carvana in the 4th quarter valued at about $3,124,000. Gordian Capital Singapore Pte Ltd bought a new stake in Carvana in the 4th quarter valued at $98,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Carvana by 90.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 415,070 shares of the company’s stock valued at $84,409,000 after purchasing an additional 196,776 shares during the last quarter. Finally, USS Investment Management Ltd bought a new stake in Carvana in the 4th quarter valued at about $5,065,000. 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.