Analysts Set Carvana Co. (NYSE:CVNA) Target Price at $265.06

Carvana Co. (NYSE:CVNA) has been assigned an average recommendation of “Moderate Buy” from the eighteen research firms that are covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $265.06.

Several equities analysts recently issued reports on the company. Evercore ISI raised their price objective on Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a research note on Tuesday, December 3rd. Wedbush set a $250.00 price objective on Carvana and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Stephens restated an “overweight” rating and set a $300.00 price objective on shares of Carvana in a research note on Thursday, February 6th. Needham & Company LLC raised their price objective on Carvana from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Bank of America raised their target price on Carvana from $252.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, February 21st.

Carvana Stock Up 4.6 %

CVNA stock opened at $233.55 on Monday. Carvana has a twelve month low of $67.61 and a twelve month high of $292.84. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The company has a market capitalization of $48.49 billion, a P/E ratio of 148.76 and a beta of 3.37. The firm has a 50 day simple moving average of $233.08 and a 200-day simple moving average of $210.96.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.32 billion. On average, equities research analysts predict that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Carvana news, insider Daniel J. Gill sold 44,000 shares of Carvana stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the transaction, the insider now owns 191,225 shares of the company’s stock, valued at $49,617,150.75. The trade was a 18.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ryan S. Keeton sold 24,845 shares of Carvana stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $247.90, for a total value of $6,159,075.50. Following the transaction, the insider now directly owns 151,029 shares in the company, valued at approximately $37,440,089.10. This trade represents a 14.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 173,629 shares of company stock valued at $44,833,799. 17.12% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Carvana

Several institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James & Associates lifted its holdings in shares of Carvana by 28.8% during the 3rd quarter. Raymond James & Associates now owns 13,577 shares of the company’s stock valued at $2,364,000 after buying an additional 3,033 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Carvana by 30.9% during the 3rd quarter. Signaturefd LLC now owns 1,842 shares of the company’s stock valued at $321,000 after buying an additional 435 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of Carvana by 16.7% during the 3rd quarter. Private Advisor Group LLC now owns 30,514 shares of the company’s stock valued at $5,313,000 after buying an additional 4,372 shares during the last quarter. Ballentine Partners LLC acquired a new stake in shares of Carvana during the 3rd quarter valued at about $246,000. Finally, Highland Capital Management LLC acquired a new stake in shares of Carvana during the 3rd quarter valued at about $1,314,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.