Carvana (NYSE:CVNA) Price Target Lowered to $93.00 at Barclays

Carvana (NYSE:CVNA) had its price target lowered by Barclays from $94.00 to $93.00 in a research note published on Friday,Benzinga reports. Barclays currently has an overweight rating on the stock.

CVNA has been the subject of several other research reports. Morgan Stanley set a $90.00 price objective on Carvana and gave the stock an “overweight” rating in a report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 target price on shares of Carvana in a research note on Thursday. Argus dropped their target price on shares of Carvana from $500.00 to $100.00 in a research report on Monday, May 11th. Robert W. Baird set a $72.00 price target on shares of Carvana in a research note on Thursday. Finally, Wells Fargo & Company set a $80.00 price target on shares of Carvana and gave the stock an “overweight” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.86.

Carvana Price Performance

Carvana stock opened at $62.25 on Friday. Carvana has a 52 week low of $54.46 and a 52 week high of $97.38. The business has a 50-day simple moving average of $66.85 and a 200 day simple moving average of $70.64. The company has a quick ratio of 2.57, a current ratio of 3.93 and a debt-to-equity ratio of 0.94. The stock has a market cap of $68.28 billion, a price-to-earnings ratio of 34.43, a PEG ratio of 13.96 and a beta of 3.46.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The business had revenue of $7.38 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same period in the prior year, the company earned $1.51 EPS. The company’s quarterly revenue was up 52.4% compared to the same quarter last year. On average, research analysts forecast that Carvana will post 1.61 earnings per share for the current fiscal year.

Insider Transactions at Carvana

In other news, Director J Danforth Quayle sold 14,525 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $70.00, for a total transaction of $1,016,750.00. Following the transaction, the director directly owned 214,960 shares in the company, valued at approximately $15,047,200. This represents a 6.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira J. Platt sold 15,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $67.83, for a total value of $1,017,450.00. Following the transaction, the director directly owned 186,470 shares in the company, valued at approximately $12,648,260.10. This represents a 7.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 278,212 shares of company stock worth $19,343,496. Company insiders own 15.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Trust Asset Management LLC raised its stake in shares of Carvana by 400.0% during the second quarter. Trust Asset Management LLC now owns 7,785 shares of the company’s stock worth $512,000 after acquiring an additional 6,228 shares in the last quarter. Annex Advisory Services LLC lifted its holdings in shares of Carvana by 405.8% in the 2nd quarter. Annex Advisory Services LLC now owns 10,643 shares of the company’s stock worth $701,000 after acquiring an additional 8,539 shares during the last quarter. Tema ETFs LLC boosted its stake in shares of Carvana by 451.0% in the 2nd quarter. Tema ETFs LLC now owns 13,919 shares of the company’s stock valued at $916,000 after purchasing an additional 11,393 shares in the last quarter. E. Ohman J or Asset Management AB boosted its stake in shares of Carvana by 400.0% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 21,000 shares of the company’s stock valued at $1,382,000 after purchasing an additional 16,800 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Carvana by 277.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 345,837 shares of the company’s stock valued at $22,763,000 after purchasing an additional 254,114 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors.

More Carvana News

Here are the key news stories impacting Carvana this week:

• Positive Sentiment: Carvana reported record second-quarter performance, including $7.38 billion in revenue, $513 million in net income and $769 million in adjusted EBITDA. Retail unit sales increased 38%, while the company extended its streak of growth and profitability. Carvana Reports Record Profit But Cools Expectations With Cautious Outlook
• Positive Sentiment: Management highlighted continued platform expansion, inventory growth and software investments, including an artificial-intelligence customer-service agent intended to reduce service costs. Same-day delivery also expanded to the Fort Myers market. Carvana Slashes Customer Service Costs Through AI Agent
• Positive Sentiment: Needham maintained a buy rating and a $120 price target, arguing that the post-earnings selloff may offer an opportunity. Citigroup, Barclays and BTIG also retained bullish ratings, although each lowered its target. Needham Says Carvana Stock Could Double as Management Lowers Guidance
• Neutral Sentiment: Some analysts continue to view strong consumer demand and Carvana’s online retail model favorably, suggesting the business remains fundamentally healthy despite the market’s negative earnings reaction.
• Negative Sentiment: Carvana’s full-year adjusted EBITDA outlook of approximately $2.7 billion to $3.0 billion, with a midpoint below Wall Street expectations, disappointed investors. The guidance overshadowed the quarterly beat and raised concerns about the pace of future earnings growth. CVNA Stock Is Dropping After a Record Quarter
• Negative Sentiment: Analysts also cited declining gross profit per unit and adjusted EBITDA margins. BNP Paribas Exane lowered its rating to neutral and cut its price target sharply, while several other firms reduced targets, indicating that valuation is harder to justify without renewed margin expansion. Carvana Profit Compression Makes This Stock Tougher To Bank On

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.