Carvana (NYSE:CVNA) had its price target upped by investment analysts at Wedbush from $70.00 to $75.00 in a research report issued on Thursday, Stock Target Advisor reports. The firm presently has a “neutral” rating on the stock. Wedbush’s price target would indicate a potential upside of 0.46% from the company’s previous close. Wedbush also issued estimates for Carvana’s FY2021 earnings at ($0.74) EPS and FY2022 earnings at ($0.68) EPS.
Several other equities research analysts have also issued reports on the stock. BMO Capital Markets raised their price target on shares of Carvana from $65.00 to $68.00 and gave the stock a “market perform” rating in a research note on Thursday, August 8th. Citigroup restated a “buy” rating and set a $95.00 price target (up previously from $90.00) on shares of Carvana in a research note on Thursday. Barrington Research restated a “hold” rating on shares of Carvana in a research note on Monday, August 5th. Cowen restated an “outperform” rating and set a $85.00 price target (up previously from $81.00) on shares of Carvana in a research note on Thursday, August 8th. Finally, Oppenheimer began coverage on shares of Carvana in a research note on Thursday, September 19th. They set an “outperform” rating and a $95.00 price target for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $79.40.
Shares of Carvana stock traded up $1.54 during mid-day trading on Thursday, hitting $74.66. 515,476 shares of the stock were exchanged, compared to its average volume of 1,329,329. Carvana has a 12 month low of $28.44 and a 12 month high of $85.97. The company has a 50-day simple moving average of $74.13 and a 200 day simple moving average of $69.96. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.40 and a current ratio of 3.83. The company has a market capitalization of $11.00 billion, a P/E ratio of -43.16 and a beta of 2.20.
Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.17). Carvana had a negative return on equity of 30.55% and a negative net margin of 3.49%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $997.46 million. During the same quarter in the previous year, the business earned ($0.40) EPS. The company’s revenue for the quarter was up 104.7% on a year-over-year basis. Analysts predict that Carvana will post -1.82 EPS for the current year.
In related news, Director Ira J. Platt sold 14,000 shares of Carvana stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $79.58, for a total value of $1,114,120.00. Following the completion of the transaction, the director now directly owns 32,863 shares in the company, valued at approximately $2,615,237.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul W. Breaux sold 20,000 shares of Carvana stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $80.04, for a total transaction of $1,600,800.00. Following the completion of the transaction, the insider now owns 30,497 shares of the company’s stock, valued at $2,440,979.88. The disclosure for this sale can be found here. Insiders sold a total of 99,000 shares of company stock valued at $8,004,447 over the last quarter. 13.02% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in CVNA. FMR LLC grew its stake in Carvana by 749.8% in the 4th quarter. FMR LLC now owns 3,591,784 shares of the company’s stock valued at $117,487,000 after buying an additional 3,169,132 shares in the last quarter. Abrams Bison Investments LLC bought a new position in Carvana in the 2nd quarter valued at $51,175,000. Requisite Energy Fund I LP bought a new position in Carvana in the 4th quarter valued at $57,470,000. Hound Partners LLC bought a new position in Carvana in the 4th quarter valued at $43,453,000. Finally, Frontier Capital Management Co. LLC bought a new position in Carvana in the 2nd quarter valued at $43,726,000. Institutional investors and hedge funds own 37.06% of the company’s stock.
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 proprietary 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.
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