Carvana (NYSE:CVNA) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Carvana (NYSE:CVNA) had its price target boosted by research analysts at Robert W. Baird from $200.00 to $275.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 2.51% from the company’s current price.

A number of other research firms have also commented on CVNA. DA Davidson upped their price objective on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. JMP Securities cut their price target on shares of Carvana from $340.00 to $275.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 9th. Evercore ISI lowered their price objective on Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a research report on Tuesday, March 11th. Stephens reaffirmed an “overweight” rating and set a $300.00 target price on shares of Carvana in a research note on Monday, March 3rd. Finally, Wells Fargo & Company reiterated a “market outperform” rating on shares of Carvana in a report on Tuesday. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $268.59.

Carvana Price Performance

Shares of NYSE:CVNA opened at $268.27 on Thursday. The firm has a market cap of $57.19 billion, a PE ratio of 170.87 and a beta of 3.61. Carvana has a 52 week low of $97.55 and a 52 week high of $293.62. The firm’s fifty day moving average is $209.94 and its 200-day moving average is $227.00. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.76. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the previous year, the company posted $0.23 EPS. The business’s revenue was up 38.3% on a year-over-year basis. Sell-side analysts predict that Carvana will post 2.85 earnings per share for the current year.

Insider Buying and Selling at Carvana

In other Carvana news, COO Benjamin E. Huston sold 10,000 shares of Carvana stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $253.56, for a total transaction of $2,535,600.00. Following the transaction, the chief operating officer now directly owns 139,294 shares of the company’s stock, valued at $35,319,386.64. The trade was a 6.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark W. Jenkins sold 12,750 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $253.20, for a total transaction of $3,228,300.00. Following the completion of the sale, the chief financial officer now owns 213,459 shares of the company’s stock, valued at approximately $54,047,818.80. This represents a 5.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 348,560 shares of company stock worth $73,806,520. Insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Yousif Capital Management LLC lifted its holdings in Carvana by 4.1% during the first quarter. Yousif Capital Management LLC now owns 1,266 shares of the company’s stock worth $265,000 after acquiring an additional 50 shares during the period. Fidelis Capital Partners LLC boosted its holdings in shares of Carvana by 3.4% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock worth $313,000 after buying an additional 51 shares during the last quarter. Bleakley Financial Group LLC grew its position in Carvana by 2.8% during the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock valued at $483,000 after buying an additional 65 shares during the period. Commerce Bank increased its holdings in Carvana by 1.6% during the first quarter. Commerce Bank now owns 4,446 shares of the company’s stock worth $930,000 after buying an additional 69 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Carvana by 3.3% in the first quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the company’s stock worth $466,000 after acquiring an additional 72 shares during the period. Hedge funds and other 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.