JMP Securities Raises Carvana (NYSE:CVNA) Price Target to $135.00

Carvana (NYSE:CVNA) had its price target hoisted by JMP Securities from $80.00 to $135.00 in a research report released on Friday, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

A number of other analysts have also weighed in on the company. Wedbush increased their target price on Carvana from $80.00 to $120.00 and gave the stock a neutral rating in a research note on Thursday. Robert W. Baird lifted their price objective on shares of Carvana from $65.00 to $110.00 and gave the company a neutral rating in a report on Thursday. TD Cowen upped their target price on shares of Carvana from $58.00 to $70.00 and gave the stock a hold rating in a research note on Monday, April 29th. Morgan Stanley lifted their price target on shares of Carvana from $32.00 to $45.00 and gave the company an underweight rating in a research note on Monday, February 26th. Finally, Wells Fargo & Company increased their price objective on Carvana from $60.00 to $77.00 and gave the stock an equal weight rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $73.44.

Carvana Trading Up 4.4 %

CVNA opened at $121.67 on Friday. Carvana has a 1-year low of $6.92 and a 1-year high of $124.20. The firm’s 50 day simple moving average is $81.81 and its two-hundred day simple moving average is $56.03. The company has a market capitalization of $24.57 billion, a PE ratio of 53.36 and a beta of 3.28.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.97) EPS. Equities analysts forecast that Carvana will post -3.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Benjamin E. Huston sold 9,296 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $82.92, for a total value of $770,824.32. Following the completion of the transaction, the chief operating officer now directly owns 178,885 shares of the company’s stock, valued at approximately $14,833,144.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Benjamin E. Huston sold 9,296 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $82.92, for a total value of $770,824.32. Following the completion of the transaction, the chief operating officer now owns 178,885 shares in the company, valued at approximately $14,833,144.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ernest C. Garcia III sold 9,390 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $82.83, for a total value of $777,773.70. Following the sale, the chief executive officer now owns 861,458 shares in the company, valued at approximately $71,354,566.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 442,233 shares of company stock valued at $38,200,169. 17.12% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Carvana

Institutional investors have recently bought and sold shares of the business. Morgan Stanley raised its holdings in shares of Carvana by 13.8% during the third quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock worth $619,478,000 after purchasing an additional 1,784,009 shares during the last quarter. Vanguard Group Inc. grew its position in Carvana by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after purchasing an additional 655,603 shares during the period. FMR LLC lifted its holdings in shares of Carvana by 0.5% in the 3rd quarter. FMR LLC now owns 4,696,510 shares of the company’s stock valued at $197,160,000 after buying an additional 24,560 shares during the period. First Trust Advisors LP boosted its stake in shares of Carvana by 17.1% in the fourth quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock worth $78,560,000 after buying an additional 216,893 shares during the last quarter. Finally, Goodnow Investment Group LLC grew its holdings in Carvana by 1.6% during the fourth quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock worth $77,532,000 after acquiring an additional 23,140 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

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.