Citigroup Issues Positive Forecast for Carvana (NYSE:CVNA) Stock Price

Carvana (NYSE:CVNA) had its price objective raised by stock analysts at Citigroup from $280.00 to $325.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 21.15% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Stephens reissued an “overweight” rating and set a $300.00 price target on shares of Carvana in a research report on Monday, March 3rd. Robert W. Baird increased their price objective on Carvana from $200.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday. Piper Sandler boosted their target price on shares of Carvana from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, April 22nd. Wedbush set a $250.00 price target on shares of Carvana and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, William Blair reissued an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $268.59.

Carvana Price Performance

Shares of CVNA opened at $268.27 on Thursday. The company has a 50 day moving average of $209.94 and a 200-day moving average of $227.00. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The stock has a market capitalization of $57.19 billion, a P/E ratio of 170.87 and a beta of 3.61. Carvana has a twelve month low of $97.55 and a twelve month high of $293.62.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.76. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same period in the previous year, the business earned $0.23 EPS. The company’s revenue was up 38.3% compared to the same quarter last year. As a group, equities research analysts forecast that Carvana will post 2.85 EPS for the current fiscal year.

Insider Transactions at Carvana

In other news, CFO Mark W. Jenkins sold 43,433 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $209.27, for a total transaction of $9,089,223.91. Following the transaction, the chief financial officer now directly owns 214,678 shares of the company’s stock, valued at approximately $44,925,665.06. This trade represents a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Benjamin E. Huston sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $150.90, for a total value of $7,545,000.00. Following the completion of the sale, the chief operating officer now owns 123,803 shares of the company’s stock, valued at approximately $18,681,872.70. This trade represents a 28.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 348,560 shares of company stock worth $73,806,520. Company insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Yousif Capital Management LLC grew its holdings in shares of Carvana by 4.1% during the 1st quarter. Yousif Capital Management LLC now owns 1,266 shares of the company’s stock worth $265,000 after purchasing an additional 50 shares in the last quarter. Fidelis Capital Partners LLC lifted its position in Carvana by 3.4% during the fourth quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock worth $313,000 after purchasing an additional 51 shares during the period. Bleakley Financial Group LLC grew its stake in Carvana by 2.8% during the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock worth $483,000 after buying an additional 65 shares in the last quarter. Commerce Bank increased its holdings in Carvana by 1.6% in the 1st quarter. Commerce Bank now owns 4,446 shares of the company’s stock valued at $930,000 after buying an additional 69 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of Carvana by 3.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the company’s stock valued at $466,000 after buying an additional 72 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

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.