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

Shares of Carvana Co. (NYSE:CVNA) have received a consensus rating of “Moderate Buy” from the nineteen ratings firms that are covering the firm, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $241.94.

CVNA has been the topic of several research reports. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price objective on shares of Carvana in a report on Monday, December 16th. Citigroup upgraded Carvana from a “neutral” rating to a “buy” rating and raised their price target for the stock from $195.00 to $277.00 in a research note on Wednesday. Bank of America boosted their price objective on Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI raised their target price on shares of Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a research report on Tuesday, December 3rd. Finally, Wells Fargo & Company reduced their price target on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday.

Insider Activity

In related news, insider Ryan S. Keeton sold 24,845 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the sale, the insider now owns 151,029 shares of the company’s stock, valued at approximately $37,440,089.10. The trade was a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $190.47, for a total transaction of $19,047,000.00. Following the transaction, the insider now owns 38,258,131 shares in the company, valued at $7,287,026,211.57. The trade was a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 951,908 shares of company stock valued at $199,569,285 in the last three months. 17.12% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. FMR LLC boosted its position in shares of Carvana by 90.8% in the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after buying an additional 5,882,656 shares in the last quarter. Whale Rock Capital Management LLC acquired a new position in Carvana during the third quarter worth about $162,953,000. Sylebra Capital LLC purchased a new stake in shares of Carvana in the second quarter valued at about $67,686,000. Lord Abbett & CO. LLC grew its position in shares of Carvana by 1,454.1% in the third quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock valued at $93,754,000 after purchasing an additional 503,824 shares during the last quarter. Finally, Senator Investment Group LP purchased a new position in shares of Carvana during the 2nd quarter worth approximately $63,767,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Price Performance

CVNA stock opened at $197.00 on Friday. The business has a 50 day moving average price of $234.92 and a 200 day moving average price of $182.79. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The stock has a market cap of $40.90 billion, a price-to-earnings ratio of 19,719.72 and a beta of 3.38. Carvana has a fifty-two week low of $40.21 and a fifty-two week high of $268.34.

Carvana (NYSE:CVNA) last issued 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 company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. The firm’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 EPS. Equities research analysts anticipate that Carvana will post 0.76 earnings per share for the current fiscal 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.