JMP Securities Raises Carvana (NYSE:CVNA) Price Target to $135.00

Carvana (NYSE:CVNA) had its price target upped by JMP Securities from $80.00 to $135.00 in a research note issued to investors on Friday, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Other analysts have also issued research reports about the company. TD Cowen lifted their target price on Carvana from $58.00 to $70.00 and gave the stock a hold rating in a report on Monday, April 29th. Morgan Stanley lifted 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. Jefferies Financial Group upgraded Carvana from an underperform rating to a hold rating and lifted their target price for the company from $30.00 to $85.00 in a research report on Tuesday, March 12th. Raymond James upgraded Carvana from an underperform rating to a market perform rating in a research report on Friday, February 23rd. Finally, Needham & Company LLC reiterated a hold rating on shares of Carvana in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $73.44.

Carvana Stock Up 1.1 %

CVNA stock opened at $123.03 on Friday. Carvana has a twelve month low of $8.86 and a twelve month high of $129.00. The firm has a market cap of $24.84 billion, a PE ratio of 53.96 and a beta of 3.28. The business has a 50 day moving average of $82.87 and a 200 day moving average of $56.84.

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 analysts’ consensus estimates of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period in the previous year, the business posted ($0.97) earnings per share. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. On average, research analysts expect that Carvana will post -3.05 earnings per share for the current fiscal year.

Insider Transactions at Carvana

In other news, insider Paul W. Breaux sold 15,000 shares of Carvana stock in a transaction dated 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 sale, the insider now directly owns 150,126 shares of the company’s stock, valued at $10,358,694. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Paul W. Breaux sold 15,000 shares of Carvana stock in a transaction dated 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 sale, the insider now directly owns 150,126 shares of the company’s stock, valued at $10,358,694. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Benjamin E. Huston sold 9,296 shares of Carvana stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $82.92, for a total value of $770,824.32. Following the completion of the sale, the chief operating officer now directly owns 178,885 shares in the company, valued at $14,833,144.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 502,233 shares of company stock valued at $45,421,169. 17.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Carvana

Large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. bought a new stake in Carvana during the fourth quarter worth approximately $29,000. Vanguard Group Inc. increased its stake in Carvana by 0.7% during the third quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock worth $393,268,000 after acquiring an additional 62,820 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Carvana during the third quarter valued at approximately $2,879,000. Charles Schwab Investment Management Inc. grew its stake in shares of Carvana by 56.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock valued at $32,684,000 after buying an additional 280,851 shares during the last quarter. Finally, TD Asset Management Inc bought a new position in shares of Carvana during the third quarter valued at approximately $22,906,000. 56.71% of the stock is owned by institutional investors.

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.