Carvana (NYSE:CVNA) PT Raised to $110.00 at Robert W. Baird

Carvana (NYSE:CVNA) had its target price hoisted by analysts at Robert W. Baird from $65.00 to $110.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s target price would indicate a potential downside of 9.59% from the company’s current price.

A number of other research firms have also issued reports on CVNA. William Blair raised Carvana from a “market perform” rating to an “outperform” rating in a report on Friday, February 23rd. Evercore ISI lowered their price objective on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. JPMorgan Chase & Co. raised shares of Carvana from a “neutral” rating to an “overweight” rating and increased their target price for the company from $70.00 to $130.00 in a research note on Thursday. JMP Securities restated a “market outperform” rating and set a $80.00 target price on shares of Carvana in a report on Wednesday, April 17th. Finally, Jefferies Financial Group raised Carvana from an “underperform” rating to a “hold” rating and upped their price target for the company from $30.00 to $85.00 in a report on Tuesday, March 12th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $73.44.

Carvana Stock Performance

Shares of NYSE:CVNA traded up $5.17 during trading on Thursday, reaching $121.67. The company had a trading volume of 8,528,363 shares, compared to its average volume of 5,397,261. Carvana has a twelve month low of $6.92 and a twelve month high of $124.20. The firm has a market capitalization of $24.57 billion, a PE ratio of 53.36 and a beta of 3.28. The firm’s fifty day moving average is $81.81 and its 200 day moving average is $55.88.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the prior year, the firm posted ($0.97) earnings per share. The business’s quarterly revenue was down 14.6% compared to the same quarter last year. Equities analysts predict that Carvana will post -3.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Neha Parikh purchased 1,300 shares of Carvana stock in a transaction dated Friday, March 1st. The stock was acquired at an average cost of $77.00 per share, with a total value of $100,100.00. Following the completion of the transaction, the director now directly owns 58,495 shares of the company’s stock, valued at $4,504,115. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Neha Parikh purchased 1,300 shares of the stock in a transaction dated Friday, March 1st. The shares were acquired at an average cost of $77.00 per share, for a total transaction of $100,100.00. Following the acquisition, the director now directly owns 58,495 shares in the company, valued at approximately $4,504,115. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ernest C. Garcia III sold 18,100 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $116.24, for a total value of $2,103,944.00. Following the sale, the chief executive officer now owns 896,449 shares of the company’s stock, valued at $104,203,231.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 442,233 shares of company stock worth $38,200,169. 17.12% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Carvana

Several large investors have recently made changes to their positions in CVNA. Blue Trust Inc. acquired a new stake in Carvana in the fourth quarter valued at approximately $29,000. Parallel Advisors LLC raised its holdings in shares of Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after purchasing an additional 194 shares in the last quarter. Hanseatic Management Services Inc. acquired a new stake in shares of Carvana in the 3rd quarter valued at $34,000. Tidemark LLC bought a new stake in Carvana in the fourth quarter worth $50,000. Finally, Harvest Fund Management Co. Ltd increased its position in Carvana by 1,225.6% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company’s stock worth $50,000 after buying an additional 1,103 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

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.