Carvana (NYSE:CVNA) Given New $110.00 Price Target at Robert W. Baird

Carvana (NYSE:CVNA) had its price objective raised by Robert W. Baird from $65.00 to $110.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts have also commented on CVNA. JPMorgan Chase & Co. upgraded shares of Carvana from a neutral rating to an overweight rating and lifted their price target for the stock from $70.00 to $130.00 in a research note on Thursday. Evercore ISI cut their price target on Carvana from $78.00 to $77.00 and set an in-line rating for the company in a research note on Tuesday, April 16th. Raymond James upgraded shares of Carvana from an underperform rating to a market perform rating in a research report on Friday, February 23rd. Morgan Stanley increased their price target on shares of Carvana from $32.00 to $45.00 and gave the stock an underweight rating in a research report on Monday, February 26th. Finally, TD Cowen boosted their price objective on shares of Carvana from $58.00 to $70.00 and gave the company a hold rating in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Carvana has an average rating of Hold and an average price target of $73.44.

Carvana Trading Up 4.4 %

CVNA traded up $5.17 during trading on Thursday, hitting $121.67. 8,528,363 shares of the company’s stock traded hands, compared to its average volume of 5,397,261. The stock has a market capitalization of $24.57 billion, a price-to-earnings ratio of 53.36 and a beta of 3.28. The company’s 50 day simple moving average is $81.81 and its two-hundred day simple moving average is $55.88. Carvana has a 12-month low of $6.92 and a 12-month high of $124.20.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the business earned ($0.97) earnings per share. Carvana’s revenue was down 14.6% compared to the same quarter last year. On average, equities analysts expect that Carvana will post -3.32 EPS for the current year.

Insider Buying and Selling

In other Carvana news, insider Ryan S. Keeton sold 8,250 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $115.55, for a total transaction of $953,287.50. Following the completion of the sale, the insider now directly owns 187,256 shares of the company’s stock, valued at approximately $21,637,430.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Carvana news, insider Ryan S. Keeton sold 8,250 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $115.55, for a total value of $953,287.50. Following the sale, the insider now owns 187,256 shares in the company, valued at approximately $21,637,430.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ernest C. Garcia III sold 18,100 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $116.24, for a total value of $2,103,944.00. Following the transaction, the chief executive officer now owns 896,449 shares of the company’s stock, valued at approximately $104,203,231.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 442,233 shares of company stock valued at $38,200,169. Corporate insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP purchased a new position in shares of Carvana in the 1st quarter worth $969,000. FORA Capital LLC lifted its holdings in shares of Carvana by 109.4% in the 1st quarter. FORA Capital LLC now owns 84,969 shares of the company’s stock valued at $7,470,000 after acquiring an additional 44,392 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Carvana by 11.9% in the first quarter. Sequoia Financial Advisors LLC now owns 4,687 shares of the company’s stock worth $412,000 after acquiring an additional 500 shares in the last quarter. HB Wealth Management LLC bought a new stake in Carvana during the first quarter worth approximately $244,000. Finally, Principal Financial Group Inc. raised its position in Carvana by 9.2% during the first quarter. Principal Financial Group Inc. now owns 12,702 shares of the company’s stock valued at $1,117,000 after purchasing an additional 1,068 shares during the period. 56.71% of the stock is 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.