Carvana (NYSE:CVNA) Price Target Increased to $230.00 by Analysts at JPMorgan Chase & Co.

Carvana (NYSE:CVNA) had its price target upped by JPMorgan Chase & Co. from $185.00 to $230.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts have also commented on CVNA. Bank of America lifted their price objective on shares of Carvana from $185.00 to $210.00 and gave the stock a buy rating in a research note on Wednesday. DA Davidson increased their price objective on shares of Carvana from $110.00 to $155.00 and gave the stock a neutral rating in a research report on Thursday, August 1st. Citigroup boosted their target price on Carvana from $125.00 to $195.00 and gave the company a neutral rating in a research report on Thursday, October 3rd. Stephens initiated coverage on Carvana in a report on Thursday, September 12th. They issued an overweight rating and a $190.00 price target on the stock. Finally, Evercore ISI restated an in-line rating and set a $178.00 price objective on shares of Carvana in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $171.76.

Carvana Stock Performance

Carvana stock opened at $192.25 on Wednesday. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20. Carvana has a twelve month low of $25.09 and a twelve month high of $194.75. The company’s 50-day moving average price is $157.06 and its 200-day moving average price is $125.52. The company has a market cap of $38.94 billion, a PE ratio of 84.32 and a beta of 3.44.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.23 billion. On average, equities research analysts forecast that Carvana will post 0.29 EPS for the current fiscal year.

Insider Transactions at Carvana

In related news, insider Daniel J. Gill sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $150.00, for a total value of $3,000,000.00. Following the completion of the transaction, the insider now owns 359,370 shares of the company’s stock, valued at $53,905,500. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Carvana news, Director Ira J. Platt sold 664 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $150.00, for a total transaction of $99,600.00. Following the completion of the sale, the director now directly owns 30,227 shares of the company’s stock, valued at approximately $4,534,050. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel J. Gill sold 20,000 shares of Carvana stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $150.00, for a total transaction of $3,000,000.00. Following the completion of the transaction, the insider now directly owns 359,370 shares in the company, valued at approximately $53,905,500. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,749,366 shares of company stock valued at $421,367,909. Company insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ridgewood Investments LLC acquired a new position in shares of Carvana during the second quarter worth $32,000. Sugarloaf Wealth Management LLC purchased a new position in Carvana during the 3rd quarter worth $32,000. Summit Securities Group LLC increased its position in Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 3,300 shares in the last quarter. Fifth Third Bancorp raised its stake in Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after buying an additional 275 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in Carvana in the second quarter worth about $51,000. Hedge funds and other 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.