Carvana (NYSE:CVNA) Stock Price Expected to Rise, Evercore ISI Analyst Says

Carvana (NYSE:CVNA) had its price objective increased by Evercore ISI from $186.00 to $190.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an in-line rating on the stock.

CVNA has been the subject of a number of other research reports. Needham & Company LLC lifted their target price on Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada raised Carvana to a “sector perform” rating and lifted their target price for the stock from $166.00 to $170.00 in a report on Monday, August 19th. TD Cowen lifted their target price on Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Bank of America lifted their target price on Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Wedbush lifted their target price on Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, Carvana currently has an average rating of “Hold” and a consensus target price of $182.76.

Carvana Price Performance

Shares of CVNA stock opened at $207.34 on Wednesday. Carvana has a fifty-two week low of $25.09 and a fifty-two week high of $213.98. The firm has a market capitalization of $42.00 billion, a price-to-earnings ratio of 90.94 and a beta of 3.44. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. The stock’s 50-day simple moving average is $171.06 and its 200-day simple moving average is $135.88.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.23 billion. As a group, equities analysts forecast that Carvana will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Daniel J. Gill sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the completion of the sale, the insider now directly owns 328,329 shares in the company, valued at approximately $57,457,575. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Carvana news, insider Daniel J. Gill sold 30,000 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $175.00, for a total value of $5,250,000.00. Following the completion of the sale, the insider now directly owns 328,329 shares in the company, valued at $57,457,575. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $137.34, for a total value of $10,300,500.00. Following the completion of the sale, the insider now owns 1,390,814 shares of the company’s stock, valued at approximately $191,014,394.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,780,891 shares of company stock worth $465,902,485. 17.12% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Carvana

A number of hedge funds have recently modified their holdings of the business. Forum Financial Management LP grew its holdings in shares of Carvana by 3.8% during the 3rd quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock worth $361,000 after purchasing an additional 76 shares during the period. Empirical Asset Management LLC grew its holdings in shares of Carvana by 2.0% during the 3rd quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock worth $890,000 after purchasing an additional 100 shares during the period. Bleakley Financial Group LLC grew its holdings in shares of Carvana by 6.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock worth $402,000 after purchasing an additional 130 shares during the period. CWM LLC grew its holdings in shares of Carvana by 19.5% during the 2nd quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after purchasing an additional 144 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Carvana by 32.8% during the 3rd quarter. GAMMA Investing LLC now owns 608 shares of the company’s stock worth $106,000 after acquiring an additional 150 shares in the last quarter. 56.71% of the stock is currently owned by hedge funds and other 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.