Analysts Set Carvana Co. (NYSE:CVNA) Target Price at $404.94

Shares of Carvana Co. (NYSE:CVNA) have earned an average rating of “Moderate Buy” from the twenty-one analysts that are presently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $407.4444.

Several brokerages recently issued reports on CVNA. William Blair reissued an “outperform” rating on shares of Carvana in a report on Wednesday, July 23rd. JPMorgan Chase & Co. raised their price target on Carvana from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, September 17th. Royal Bank Of Canada raised their price target on Carvana from $400.00 to $460.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Citigroup reissued a “buy” rating on shares of Carvana in a report on Thursday. Finally, Bank of America raised their price target on Carvana from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Thursday, July 31st.

Insider Activity

In other Carvana news, VP Stephen R. Palmer sold 1,000 shares of Carvana stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $390.14, for a total transaction of $390,140.00. Following the sale, the vice president owned 43,513 shares of the company’s stock, valued at $16,976,161.82. The trade was a 2.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark W. Jenkins sold 12,750 shares of Carvana stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $389.27, for a total value of $4,963,192.50. Following the sale, the chief financial officer directly owned 207,362 shares in the company, valued at $80,719,805.74. The trade was a 5.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,838,292 shares of company stock worth $664,602,807 over the last ninety days. 16.36% of the stock is currently owned by company insiders.

Institutional Trading of Carvana

Hedge funds have recently added to or reduced their stakes in the business. Hilltop National Bank bought a new stake in Carvana during the 2nd quarter valued at $25,000. SJS Investment Consulting Inc. increased its position in shares of Carvana by 960.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after purchasing an additional 96 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Carvana during the 2nd quarter valued at $38,000. LRI Investments LLC acquired a new position in shares of Carvana during the 2nd quarter valued at $42,000. Finally, Brooklyn Investment Group increased its position in shares of Carvana by 961.5% during the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after purchasing an additional 125 shares during the period. Institutional investors own 56.71% of the company’s stock.

Carvana Price Performance

Shares of CVNA opened at $338.77 on Tuesday. The firm has a market cap of $72.90 billion, a price-to-earnings ratio of 84.91, a PEG ratio of 1.07 and a beta of 3.55. The stock has a 50 day moving average of $364.73 and a 200-day moving average of $317.04. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51. Carvana has a 52 week low of $148.25 and a 52 week high of $413.33.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 30th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.09 by $0.19. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.54 billion. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The business’s revenue was up 41.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.05) EPS. As a group, analysts forecast that Carvana will post 2.85 EPS for the current 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.