Carvana (NYSE:CVNA) Given “Buy” Rating at Needham & Company LLC

Carvana (NYSE:CVNA)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research note issued to investors on Monday,Benzinga reports. They presently have a $500.00 price target on the stock. Needham & Company LLC’s target price indicates a potential upside of 66.19% from the stock’s current price.

A number of other brokerages have also weighed in on CVNA. Wedbush decreased their price objective on shares of Carvana from $500.00 to $425.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Barclays lowered their price target on Carvana from $530.00 to $450.00 and set an “overweight” rating for the company in a report on Friday, February 20th. Weiss Ratings raised Carvana from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, February 19th. Jefferies Financial Group dropped their price target on Carvana from $550.00 to $485.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Finally, BTIG Research decreased their price objective on Carvana from $535.00 to $455.00 and set a “buy” rating for the company in a report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Carvana presently has an average rating of “Moderate Buy” and an average target price of $440.59.

Carvana Stock Up 2.8%

Shares of NYSE:CVNA opened at $300.85 on Monday. The firm has a market capitalization of $65.84 billion, a PE ratio of 37.42 and a beta of 3.60. The business has a 50 day simple moving average of $388.30 and a two-hundred day simple moving average of $378.81. Carvana has a 1 year low of $148.25 and a 1 year high of $486.89. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.31 and a quick ratio of 2.73.

Carvana’s stock is going to split on Thursday, May 7th. The 5-1 split was announced on Friday, March 13th. The newly minted shares will be distributed to shareholders after the market closes on Wednesday, May 6th.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $4.22 EPS for the quarter, beating the consensus estimate of $1.10 by $3.12. Carvana had a return on equity of 50.96% and a net margin of 6.92%.The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.24 billion. During the same quarter in the prior year, the company posted $0.56 EPS. Carvana’s quarterly revenue was up 58.0% on a year-over-year basis. On average, equities analysts predict that Carvana will post 2.85 EPS for the current year.

Insider Transactions at Carvana

In related news, COO Benjamin E. Huston sold 10,000 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $401.94, for a total transaction of $4,019,400.00. Following the completion of the sale, the chief operating officer directly owned 99,871 shares in the company, valued at $40,142,149.74. This represents a 9.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Mark W. Jenkins sold 12,750 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $403.02, for a total value of $5,138,505.00. Following the sale, the chief financial officer directly owned 204,036 shares in the company, valued at approximately $82,230,588.72. The trade was a 5.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 53,574 shares of company stock worth $21,463,735. Company insiders own 16.36% of the company’s stock.

Institutional Investors Weigh In On Carvana

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in shares of Carvana by 8.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock worth $7,481,081,000 after purchasing an additional 1,407,762 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Carvana by 24.7% in the 4th quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock worth $7,082,804,000 after purchasing an additional 3,328,115 shares in the last quarter. State Street Corp grew its stake in Carvana by 93.7% during the 4th quarter. State Street Corp now owns 5,714,779 shares of the company’s stock worth $2,411,751,000 after buying an additional 2,764,759 shares during the last quarter. Capital Research Global Investors grew its stake in Carvana by 42.9% during the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock worth $2,405,959,000 after buying an additional 1,711,144 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Carvana by 55.4% during the 4th quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock valued at $1,632,763,000 after buying an additional 1,382,852 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.