Carvana Co. (NYSE:CVNA) Receives $56.75 Average Price Target from Analysts

Shares of Carvana Co. (NYSE:CVNA) have received a consensus recommendation of “Hold” from the seventeen research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $73.44.

A number of analysts have weighed in on CVNA shares. Wells Fargo & Company boosted their price target on Carvana from $60.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. TD Cowen increased their price target on Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a report on Monday, April 29th. Needham & Company LLC reissued a “hold” rating on shares of Carvana in a research report on Thursday, May 2nd. William Blair reaffirmed an “outperform” rating on shares of Carvana in a report on Thursday, May 2nd. Finally, Wedbush lifted their target price on shares of Carvana from $80.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd.

Insider Activity

In related news, major shareholder Ernest C. Garcia II sold 60,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $120.35, for a total value of $7,221,000.00. Following the completion of the transaction, the insider now directly owns 2,992,500 shares of the company’s stock, valued at $360,147,375. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Carvana news, major shareholder Ernest C. Garcia II sold 60,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $120.35, for a total transaction of $7,221,000.00. Following the completion of the transaction, the insider now owns 2,992,500 shares in the company, valued at $360,147,375. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas Taira sold 4,197 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $82.84, for a total value of $347,679.48. Following the completion of the sale, the insider now owns 164,827 shares in the company, valued at $13,654,268.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 502,233 shares of company stock worth $45,421,169. Company insiders own 17.18% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. bought a new stake in Carvana during the fourth quarter worth about $29,000. Vanguard Group Inc. grew its position in Carvana by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock worth $393,268,000 after acquiring an additional 62,820 shares during the last quarter. Quantbot Technologies LP bought a new position in Carvana in the 3rd quarter valued at $2,879,000. Charles Schwab Investment Management Inc. boosted its stake in Carvana by 56.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock worth $32,684,000 after purchasing an additional 280,851 shares in the last quarter. Finally, TD Asset Management Inc bought a new stake in shares of Carvana during the third quarter worth $22,906,000. 56.71% of the stock is owned by institutional investors.

Carvana Stock Performance

NYSE:CVNA opened at $123.03 on Tuesday. The company has a market capitalization of $24.84 billion, a P/E ratio of 53.96 and a beta of 3.28. The stock’s 50 day moving average price is $82.87 and its 200 day moving average price is $56.84. Carvana has a 52 week low of $8.86 and a 52 week high of $129.00.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter last year, the business posted ($0.97) EPS. The firm’s revenue was down 14.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Carvana will post -3.05 earnings per share for the current fiscal 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.