Wells Fargo & Company Issues Pessimistic Forecast for Carvana (NYSE:CVNA) Stock Price

Carvana (NYSE:CVNA) had its target price decreased by stock analysts at Wells Fargo & Company from $300.00 to $275.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 38.42% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. JMP Securities reissued a “market outperform” rating and set a $320.00 target price on shares of Carvana in a research report on Monday, December 16th. Needham & Company LLC increased their target price on Carvana from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Wedbush lifted their price target on Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Morgan Stanley raised Carvana from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $110.00 to $260.00 in a research report on Tuesday, November 5th. Finally, Evercore ISI boosted their target price on shares of Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a research report on Tuesday, December 3rd. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $237.12.

Carvana Stock Up 5.2 %

CVNA stock opened at $198.67 on Monday. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The firm has a market cap of $41.25 billion, a PE ratio of 19,886.89 and a beta of 3.38. Carvana has a 1 year low of $40.21 and a 1 year high of $268.34. The company has a fifty day simple moving average of $236.14 and a 200 day simple moving average of $182.59.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. The business’s revenue was up 31.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 EPS. Sell-side analysts anticipate that Carvana will post 0.76 EPS for the current fiscal year.

Insider Activity at Carvana

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $192.55, for a total value of $19,255,000.00. Following the completion of the sale, the insider now owns 38,258,131 shares of the company’s stock, valued at $7,366,603,124.05. This trade represents a 0.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul W. Breaux sold 14,548 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $198.00, for a total value of $2,880,504.00. Following the transaction, the insider now directly owns 119,494 shares in the company, valued at $23,659,812. This trade represents a 10.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,051,908 shares of company stock valued at $218,824,285 in the last ninety days. Insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sugarloaf Wealth Management LLC bought a new position in shares of Carvana during the third quarter worth $32,000. Capital Performance Advisors LLP bought a new position in shares of Carvana during the 3rd quarter valued at about $40,000. Versant Capital Management Inc bought a new position in shares of Carvana during the 4th quarter valued at about $42,000. First Horizon Advisors Inc. grew its position in shares of Carvana by 363.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock valued at $44,000 after purchasing an additional 196 shares during the period. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in Carvana during the 2nd quarter worth approximately $51,000. Institutional investors own 56.71% of the company’s stock.

About Carvana

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.