Carvana (NYSE:CVNA) Stock Rating Reaffirmed by Wedbush

Wedbush reiterated their neutral rating on shares of Carvana (NYSE:CVNA) in a research report released on Thursday, Benzinga reports. They currently have a $80.00 target price on the stock, up from their prior target price of $60.00.

Other equities analysts also recently issued research reports about the stock. Robert W. Baird upped their price objective on shares of Carvana from $60.00 to $65.00 and gave the company a neutral rating in a report on Friday, April 19th. William Blair upgraded Carvana from a market perform rating to an outperform rating in a research report on Friday, February 23rd. Morgan Stanley upped their target price on Carvana from $32.00 to $45.00 and gave the company an underweight rating in a research report on Monday, February 26th. Evercore ISI dropped their target price on Carvana from $78.00 to $77.00 and set an in-line rating on the stock in a research report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. upped their target price on Carvana from $65.00 to $70.00 and gave the company a neutral rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Carvana has a consensus rating of Hold and a consensus target price of $55.87.

Carvana Price Performance

CVNA stock opened at $84.31 on Thursday. The company has a market capitalization of $17.02 billion, a P/E ratio of 156.13 and a beta of 3.32. The business has a 50-day moving average price of $77.47 and a 200 day moving average price of $53.92. Carvana has a 1-year low of $6.70 and a 1-year high of $94.04.

Carvana (NYSE:CVNA) last announced its earnings results on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.56 billion. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.97) EPS. On average, analysts anticipate that Carvana will post -3.32 earnings per share for the current fiscal year.

Insider Transactions at Carvana

In other news, insider Paul W. Breaux sold 15,000 shares of the company’s 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 completion of the transaction, the insider now directly owns 150,126 shares of the company’s stock, valued at approximately $10,358,694. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Paul W. Breaux sold 15,000 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $69.00, for a total value of $1,035,000.00. Following the completion of the transaction, the insider now directly owns 150,126 shares of the company’s stock, valued at approximately $10,358,694. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Neha Parikh acquired 1,300 shares of Carvana stock in a transaction that occurred on Tuesday, March 5th. The stock was purchased at an average cost of $76.68 per share, with a total value of $99,684.00. Following the completion of the purchase, the director now owns 59,795 shares in the company, valued at approximately $4,585,080.60. The disclosure for this purchase can be found here. Insiders sold a total of 187,883 shares of company stock valued at $15,505,178 in the last three months. 17.12% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CVNA. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV increased its stake in shares of Carvana by 17.6% in the 1st quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 588,149 shares of the company’s stock worth $51,704,000 after acquiring an additional 88,149 shares during the last quarter. Gainplan LLC purchased a new position in Carvana during the 1st quarter valued at about $440,000. PFG Investments LLC boosted its holdings in Carvana by 68.2% during the 1st quarter. PFG Investments LLC now owns 42,783 shares of the company’s stock valued at $3,761,000 after acquiring an additional 17,345 shares during the period. Diversified Trust Co boosted its holdings in Carvana by 53.3% during the 1st quarter. Diversified Trust Co now owns 8,678 shares of the company’s stock valued at $763,000 after acquiring an additional 3,019 shares during the period. Finally, Quadrature Capital Ltd boosted its holdings in Carvana by 128.1% during the 4th quarter. Quadrature Capital Ltd now owns 118,196 shares of the company’s stock valued at $6,269,000 after acquiring an additional 66,386 shares during the period. 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.