Carvana’s (CVNA) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Carvana (NYSE:CVNA – Get Rating) in a research note published on Friday morning, Benzinga reports. JMP Securities currently has a $15.00 price objective on the stock.

Several other brokerages have also recently issued reports on CVNA. Wedbush reissued an underperform rating on shares of Carvana in a research note on Friday, February 24th. Truist Financial lowered shares of Carvana from a buy rating to a hold rating in a report on Wednesday, December 21st. Bank of America lowered shares of Carvana from a buy rating to a neutral rating in a report on Wednesday, November 30th. DA Davidson boosted their price objective on shares of Carvana from $5.00 to $7.00 in a report on Tuesday, February 21st. Finally, Needham & Company LLC lowered shares of Carvana from a buy rating to a hold rating in a report on Friday, December 9th. Two equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $37.80.

Carvana Stock Performance

NYSE CVNA opened at $10.09 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.77 and a debt-to-equity ratio of 17.69. The firm has a market cap of $1.91 billion, a P/E ratio of -0.65 and a beta of 2.80. Carvana has a 52-week low of $3.55 and a 52-week high of $150.84. The business’s 50-day moving average price is $8.43 and its 200 day moving average price is $15.01.

Institutional Investors Weigh In On Carvana

A number of institutional investors have recently modified their holdings of the business. Mitsubishi UFJ Trust & Banking Corp grew its position in Carvana by 12.4% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 439,402 shares of the company’s stock worth $9,922,000 after purchasing an additional 48,522 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Carvana by 161.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 16,500 shares of the company’s stock worth $373,000 after purchasing an additional 10,200 shares during the last quarter. Forsta AP Fonden bought a new position in Carvana in the 2nd quarter worth about $72,000. State Board of Administration of Florida Retirement System grew its position in Carvana by 20.1% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 109,638 shares of the company’s stock worth $2,476,000 after purchasing an additional 18,327 shares during the last quarter. Finally, Baillie Gifford & Co. grew its position in Carvana by 15.0% in the 2nd quarter. Baillie Gifford & Co. now owns 10,901,629 shares of the company’s stock worth $246,159,000 after purchasing an additional 1,418,746 shares during the last quarter. Institutional investors own 63.62% of the company’s stock.

Carvana Company Profile

(Get Rating)

Carvana Co is a holding company and an eCommerce platform, which engages in the buying and selling of used cars. The company was founded by Ernest Garcia, III, Benjamin Huston and Ryan Keeton in 2012 and is headquartered in Tempe, AZ.