Carvana (NYSE:CVNA) Price Target Lowered to $77.00 at Evercore ISI

Carvana (NYSE:CVNA) had its price target trimmed by Evercore ISI from $78.00 to $77.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has an in-line rating on the stock.

Several other research firms have also issued reports on CVNA. Morgan Stanley upped their target price on Carvana from $32.00 to $45.00 and gave the stock an underweight rating in a report on Monday, February 26th. William Blair upgraded Carvana from a market perform rating to an outperform rating in a report on Friday, February 23rd. Jefferies Financial Group upgraded Carvana from an underperform rating to a hold rating and upped their target price for the stock from $30.00 to $85.00 in a report on Tuesday, March 12th. Wedbush upped their target price on Carvana from $40.00 to $50.00 and gave the stock a neutral rating in a report on Tuesday, February 20th. Finally, Royal Bank of Canada upgraded Carvana from an underperform rating to a sector perform rating and upped their target price for the stock from $45.00 to $90.00 in a report on Friday, March 8th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $50.53.

Carvana Price Performance

CVNA stock opened at $70.60 on Tuesday. The stock has a market capitalization of $14.25 billion, a P/E ratio of 130.74 and a beta of 3.32. The business has a 50-day moving average of $74.05 and a 200-day moving average of $51.87. Carvana has a fifty-two week low of $6.70 and a fifty-two week high of $94.04.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. Carvana’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.97) earnings per share. Equities analysts expect that Carvana will post -3.4 EPS for the current year.

Insider Buying and Selling at Carvana

In other news, CFO Mark W. Jenkins sold 55,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $86.76, for a total transaction of $4,771,800.00. Following the transaction, the chief financial officer now owns 178,156 shares in the company, valued at $15,456,814.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Paul W. Breaux sold 15,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the transaction, the insider now owns 150,126 shares in the company, valued at $10,358,694. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mark W. Jenkins sold 55,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $86.76, for a total value of $4,771,800.00. Following the transaction, the chief financial officer now owns 178,156 shares in the company, valued at approximately $15,456,814.56. The disclosure for this sale can be found here. Insiders have sold 187,883 shares of company stock worth $15,505,178 over the last 90 days. Company insiders own 17.18% of the company’s stock.

Hedge Funds Weigh In On Carvana

Large investors have recently made changes to their positions in the company. Blue Trust Inc. bought a new position in shares of Carvana during the fourth quarter worth approximately $29,000. Captrust Financial Advisors grew its position in Carvana by 270.9% during the second quarter. Captrust Financial Advisors now owns 1,324 shares of the company’s stock worth $30,000 after buying an additional 967 shares in the last quarter. Hanseatic Management Services Inc. acquired a new stake in Carvana during the third quarter worth approximately $34,000. Parallel Advisors LLC grew its position in Carvana by 39.0% during the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after buying an additional 194 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its position in Carvana by 14,831.6% during the fourth quarter. Meeder Asset Management Inc. now owns 8,511 shares of the company’s stock worth $40,000 after buying an additional 8,454 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

About Carvana

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.