Carvana (NYSE:CVNA) Stock Price Expected to Rise, Evercore ISI Analyst Says

Carvana (NYSE:CVNA) had its target price raised by stock analysts at Evercore ISI from $420.00 to $425.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s price target would indicate a potential downside of 3.72% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. UBS Group initiated coverage on shares of Carvana in a research report on Monday, December 1st. They set a “buy” rating and a $450.00 price objective for the company. Zacks Research lowered shares of Carvana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Barclays lifted their price target on shares of Carvana from $390.00 to $465.00 and gave the company an “overweight” rating in a research note on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Carvana in a research report on Friday, November 21st. They set a “buy” rating and a $395.00 price objective on the stock. Finally, Argus started coverage on Carvana in a research note on Monday, December 15th. They issued a “buy” rating and a $500.00 target price for the company. Nineteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $446.32.

Carvana Stock Performance

CVNA stock opened at $441.41 on Tuesday. The firm has a market cap of $96.02 billion, a PE ratio of 100.78, a price-to-earnings-growth ratio of 1.42 and a beta of 3.51. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63. The stock has a 50-day moving average price of $368.78 and a 200-day moving average price of $357.56. Carvana has a 1-year low of $148.25 and a 1-year high of $485.33.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, October 29th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.26). The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.04 billion. Carvana had a net margin of 3.44% and a return on equity of 30.62%. The firm’s revenue for the quarter was up 54.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 EPS. As a group, equities research analysts expect that Carvana will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Daniel J. Gill sold 40,000 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $475.24, for a total value of $19,009,600.00. Following the completion of the sale, the insider directly owned 191,106 shares of the company’s stock, valued at $90,821,215.44. This represents a 17.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Benjamin E. Huston sold 20,000 shares of Carvana stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $475.00, for a total value of $9,500,000.00. Following the transaction, the chief operating officer directly owned 100,758 shares in the company, valued at approximately $47,860,050. The trade was a 16.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 554,332 shares of company stock worth $224,923,962 over the last ninety days. Insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Several institutional investors have recently modified their holdings of CVNA. Sherman Porfolios LLC purchased a new stake in shares of Carvana during the third quarter valued at approximately $225,000. Keel Point LLC grew its stake in Carvana by 11.8% in the 3rd quarter. Keel Point LLC now owns 860 shares of the company’s stock valued at $324,000 after purchasing an additional 91 shares during the period. Hudson Bay Capital Management LP increased its position in shares of Carvana by 201.5% during the 3rd quarter. Hudson Bay Capital Management LP now owns 49,688 shares of the company’s stock valued at $18,744,000 after purchasing an additional 33,210 shares during the last quarter. Allworth Financial LP increased its position in shares of Carvana by 10.5% during the 3rd quarter. Allworth Financial LP now owns 1,250 shares of the company’s stock valued at $472,000 after purchasing an additional 119 shares during the last quarter. Finally, Polar Asset Management Partners Inc. bought a new stake in shares of Carvana during the 3rd quarter worth $1,924,000. 56.71% of the stock is owned by institutional investors.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.