Carvana (NYSE:CVNA) had its target price lifted by Robert W. Baird from $60.00 to $68.00 in a research note issued to investors on Thursday morning, The Fly reports. The firm currently has an outperform rating on the stock.
A number of other research analysts have also issued reports on the stock. Bank of America increased their target price on shares of Carvana from $60.00 to $72.00 and gave the stock a buy rating in a research report on Thursday. Barrington Research reiterated a buy rating on shares of Carvana in a research report on Monday, November 5th. Zacks Investment Research lowered shares of Carvana from a hold rating to a sell rating in a research report on Thursday, November 1st. Wedbush set a $52.00 price target on shares of Carvana and gave the stock a hold rating in a research report on Thursday, October 4th. Finally, Wolfe Research assumed coverage on shares of Carvana in a research report on Tuesday, October 2nd. They set an outperform rating on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $59.05.
Shares of NYSE:CVNA traded down $2.57 on Thursday, reaching $48.90. 1,776,973 shares of the company’s stock were exchanged, compared to its average volume of 1,755,561. Carvana has a twelve month low of $13.58 and a twelve month high of $72.59. The firm has a market cap of $7.21 billion, a PE ratio of -40.41 and a beta of 2.13. The company has a quick ratio of 0.78, a current ratio of 2.04 and a debt-to-equity ratio of 1.55.
Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, November 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.37) by ($0.03). Carvana had a negative return on equity of 35.13% and a negative net margin of 5.01%. The business had revenue of $535.00 million for the quarter, compared to analyst estimates of $509.09 million. During the same quarter in the previous year, the company earned ($0.29) EPS. The business’s revenue for the quarter was up 137.8% on a year-over-year basis. On average, research analysts expect that Carvana will post -1.55 EPS for the current year.
In other Carvana news, major shareholder Ddfs Partnership Lp sold 896,542 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $64.93, for a total value of $58,212,472.06. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Ernest C. Garcia II sold 13,249 shares of the firm’s stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $57.39, for a total transaction of $760,360.11. Following the completion of the sale, the insider now owns 52,937,458 shares in the company, valued at approximately $3,038,080,714.62. The disclosure for this sale can be found here. Insiders have sold a total of 2,748,686 shares of company stock worth $164,026,447 in the last quarter. 21.69% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of CVNA. Frontier Capital Management Co. LLC acquired a new stake in Carvana in the second quarter valued at approximately $43,726,000. BlackRock Inc. boosted its position in Carvana by 94.3% in the second quarter. BlackRock Inc. now owns 1,858,986 shares of the company’s stock valued at $77,335,000 after buying an additional 902,271 shares in the last quarter. Whale Rock Capital Management LLC acquired a new stake in Carvana in the second quarter valued at approximately $35,039,000. Gilder Gagnon Howe & Co. LLC boosted its position in Carvana by 76.2% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 645,271 shares of the company’s stock valued at $26,843,000 after buying an additional 279,022 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in Carvana by 208.4% in the second quarter. Point72 Asset Management L.P. now owns 411,100 shares of the company’s stock valued at $17,102,000 after buying an additional 277,792 shares in the last quarter. Hedge funds and other institutional investors own 25.96% of the company’s stock.
Carvana Company Profile
Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying used cars in the United States. The company purchases, reconditions, sells, and delivers vehicles. Its platform allows customers to research and identify a vehicle; inspect it using company's proprietary 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up.
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