Carvana (NYSE:CVNA) Price Target Raised to $157.00 at Evercore ISI

Carvana (NYSE:CVNA) had its price objective upped by Evercore ISI from $142.00 to $157.00 in a research report released on Monday, Marketbeat Ratings reports. Evercore ISI currently has an in-line rating on the stock.

Several other research analysts have also weighed in on the stock. Robert W. Baird assumed coverage on shares of Carvana in a research note on Thursday, August 1st. They set a neutral rating and a $160.00 price objective on the stock. Wells Fargo & Company raised shares of Carvana from an equal weight rating to an overweight rating and lifted their price target for the company from $77.00 to $175.00 in a research note on Thursday, August 1st. DA Davidson lifted their price target on shares of Carvana from $110.00 to $155.00 and gave the company a neutral rating in a research note on Thursday, August 1st. Wedbush raised shares of Carvana to a neutral rating and lifted their price target for the company from $120.00 to $150.00 in a research note on Monday, August 19th. Finally, Piper Sandler lifted their price target on shares of Carvana from $105.00 to $151.00 and gave the company a neutral rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued 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 $151.94.

Carvana Stock Up 7.6 %

Carvana stock opened at $152.70 on Monday. The company’s 50 day simple moving average is $140.31 and its 200 day simple moving average is $113.19. Carvana has a fifty-two week low of $25.09 and a fifty-two week high of $159.85. The firm has a market capitalization of $31.60 billion, a price-to-earnings ratio of 66.97 and a beta of 3.43. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.23 billion. As a group, sell-side analysts anticipate that Carvana will post 0.18 EPS for the current year.

Insider Transactions at Carvana

In related news, Director Ira J. Platt sold 664 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $150.00, for a total transaction of $99,600.00. Following the transaction, the director now directly owns 30,227 shares in the company, valued at $4,534,050. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Ira J. Platt sold 664 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $150.00, for a total transaction of $99,600.00. Following the transaction, the director now directly owns 30,227 shares in the company, valued at $4,534,050. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $135.73, for a total transaction of $10,179,750.00. Following the transaction, the insider now owns 40,583,131 shares in the company, valued at $5,508,348,370.63. The disclosure for this sale can be found here. Insiders have sold a total of 2,481,866 shares of company stock valued at $338,115,484 over the last 90 days. 17.12% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Carvana

Several institutional investors and hedge funds have recently modified their holdings of the stock. Maven Securities LTD acquired a new position in shares of Carvana in the second quarter valued at $270,000. Senator Investment Group LP acquired a new position in shares of Carvana in the second quarter valued at $63,767,000. Sylebra Capital LLC acquired a new position in shares of Carvana in the second quarter valued at $67,686,000. Creative Planning increased its holdings in shares of Carvana by 34.4% in the second quarter. Creative Planning now owns 15,296 shares of the company’s stock valued at $1,969,000 after purchasing an additional 3,913 shares during the last quarter. Finally, Algert Global LLC increased its holdings in shares of Carvana by 135.8% in the second quarter. Algert Global LLC now owns 64,095 shares of the company’s stock valued at $8,250,000 after purchasing an additional 36,915 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.