Carvana (NYSE:CVNA) Price Target Cut to $335.00 by Analysts at Gordon Haskett

Carvana (NYSE:CVNAFree Report) had its price objective reduced by Gordon Haskett from $350.00 to $335.00 in a report issued on Monday,MarketScreener reports. They currently have a hold rating on the stock.

A number of other brokerages have also recently commented on CVNA. Stephens restated an “overweight” rating and set a $519.00 target price on shares of Carvana in a report on Thursday, February 19th. Bank of America restated a “neutral” rating and set a $360.00 target price (down from $400.00) on shares of Carvana in a report on Monday. Royal Bank Of Canada dropped their target price on shares of Carvana from $500.00 to $440.00 and set an “outperform” rating on the stock in a report on Thursday, February 19th. Wells Fargo & Company dropped their target price on shares of Carvana from $525.00 to $425.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Finally, Jefferies Financial Group dropped their target price on shares of Carvana from $550.00 to $485.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $437.18.

Check Out Our Latest Stock Analysis on Carvana

Carvana Stock Performance

Shares of CVNA stock opened at $311.76 on Monday. Carvana has a 12 month low of $171.78 and a 12 month high of $486.89. The stock has a market cap of $68.23 billion, a PE ratio of 38.80 and a beta of 3.61. The company has a current ratio of 4.31, a quick ratio of 2.73 and a debt-to-equity ratio of 1.15. The company’s fifty day moving average price is $339.79 and its 200-day moving average price is $371.48.

Shares of Carvana are going to split on Thursday, May 7th. The 5-1 split was announced on Friday, March 13th. The newly issued shares will be distributed to shareholders after the market closes on Wednesday, May 6th.

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

Insider Buying and Selling

In related news, insider Thomas Taira sold 1,174 shares of the company’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $447.00, for a total value of $524,778.00. Following the transaction, the insider owned 68,252 shares in the company, valued at $30,508,644. The trade was a 1.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director J Danforth Quayle sold 2,900 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $309.97, for a total transaction of $898,913.00. Following the completion of the transaction, the director owned 41,913 shares in the company, valued at approximately $12,991,772.61. The trade was a 6.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 53,574 shares of company stock worth $19,259,412 over the last quarter. 17.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Carvana

A number of hedge funds have recently bought and sold shares of CVNA. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Carvana in the 4th quarter worth about $29,000. Farmers & Merchants Investments Inc. purchased a new position in Carvana in the 4th quarter worth about $29,000. ORG Partners LLC raised its position in Carvana by 8,700.0% in the 3rd quarter. ORG Partners LLC now owns 88 shares of the company’s stock worth $33,000 after buying an additional 87 shares during the last quarter. Motiv8 Investments LLC purchased a new position in Carvana in the 4th quarter worth about $33,000. Finally, Salomon & Ludwin LLC raised its position in Carvana by 112.5% in the 4th quarter. Salomon & Ludwin LLC now owns 85 shares of the company’s stock worth $37,000 after buying an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

More Carvana News

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Carvana Company Profile

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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.

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