Carvana Co. (NYSE:CVNA) Receives $229.18 Consensus Target Price from Analysts

Carvana Co. (NYSE:CVNA) has earned a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are covering the firm, MarketBeat reports. Nine analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $241.94.

Several brokerages recently issued reports on CVNA. Needham & Company LLC reissued a “buy” rating and issued a $330.00 price objective on shares of Carvana in a research note on Tuesday, January 7th. Wedbush boosted their price objective on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Stephens reiterated an “overweight” rating and issued a $300.00 target price on shares of Carvana in a research report on Thursday, January 2nd. Robert W. Baird boosted their price target on shares of Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Evercore ISI increased their price objective on Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a report on Tuesday, December 3rd.

Carvana Stock Performance

Shares of CVNA opened at $193.40 on Friday. Carvana has a one year low of $40.21 and a one year high of $268.34. The company has a 50-day moving average of $234.21 and a two-hundred day moving average of $183.69. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The stock has a market cap of $40.16 billion, a price-to-earnings ratio of 19,359.36 and a beta of 3.38.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. The company’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 earnings per share. On average, equities research analysts expect that Carvana will post 0.76 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total value of $2,007,500.00. Following the completion of the transaction, the chief financial officer now directly owns 189,097 shares of the company’s stock, valued at $37,961,222.75. This trade represents a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $190.47, for a total transaction of $19,047,000.00. Following the completion of the sale, the insider now directly owns 38,258,131 shares in the company, valued at $7,287,026,211.57. This trade represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 951,908 shares of company stock valued at $199,569,285 over the last 90 days. 17.12% of the stock is currently owned by company insiders.

Institutional Trading of Carvana

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sugarloaf Wealth Management LLC acquired a new stake in Carvana during the third quarter valued at approximately $32,000. ORG Wealth Partners LLC bought a new position in shares of Carvana during the 4th quarter worth approximately $34,000. Capital Performance Advisors LLP acquired a new stake in Carvana in the 3rd quarter valued at $40,000. Versant Capital Management Inc bought a new stake in Carvana in the fourth quarter valued at $42,000. Finally, First Horizon Advisors Inc. raised its stake in Carvana by 363.0% during the third quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock worth $44,000 after acquiring an additional 196 shares in the last quarter. 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.