Evercore ISI Raises Carvana (NYSE:CVNA) Price Target to $430.00

Carvana (NYSE:CVNA) had its price objective hoisted by analysts at Evercore ISI from $425.00 to $430.00 in a research report issued on Tuesday,MarketScreener reports. Evercore ISI’s target price would indicate a potential downside of 9.63% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company lifted their price target on shares of Carvana from $500.00 to $525.00 and gave the company an “overweight” rating in a research report on Tuesday. Bank of America upped their target price on Carvana from $455.00 to $515.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Zacks Research lowered shares of Carvana from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Citigroup increased their price target on Carvana from $445.00 to $550.00 and gave the company a “buy” rating in a report on Friday, December 12th. Finally, Gordon Haskett dropped their price target on shares of Carvana from $445.00 to $435.00 and set a “hold” rating for the company in a research note on Monday, January 5th. Nineteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $473.36.

Carvana Trading Up 0.4%

Shares of NYSE CVNA traded up $2.12 during trading on Tuesday, hitting $475.83. 248,573 shares of the company traded hands, compared to its average volume of 2,703,608. The firm has a market capitalization of $103.51 billion, a P/E ratio of 108.23, a P/E/G ratio of 1.14 and a beta of 3.54. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63. The company has a 50-day moving average price of $423.07 and a 200-day moving average price of $377.11. Carvana has a 1 year low of $148.25 and a 1 year high of $486.89.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.04 billion. Carvana had a net margin of 3.44% and a return on equity of 30.62%. Carvana’s revenue was up 54.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 EPS. On average, equities analysts predict that Carvana will post 2.85 EPS for the current year.

Insider Activity at Carvana

In other Carvana news, insider Thomas Taira sold 30,952 shares of Carvana stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $435.96, for a total value of $13,493,833.92. Following the transaction, the insider owned 69,880 shares in the company, valued at approximately $30,464,884.80. The trade was a 30.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel J. Gill sold 80,000 shares of Carvana stock in a transaction on Monday, December 8th. The stock was sold at an average price of $439.50, for a total value of $35,160,000.00. Following the completion of the transaction, the insider owned 191,106 shares in the company, valued at $83,991,087. The trade was a 29.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 467,626 shares of company stock worth $192,090,109. Company insiders own 16.36% of the company’s stock.

Institutional Investors Weigh In On Carvana

A number of institutional investors have recently modified their holdings of CVNA. Asset Management One Co. Ltd. grew its stake in shares of Carvana by 22.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 55,353 shares of the company’s stock valued at $23,988,000 after buying an additional 10,169 shares in the last quarter. Merit Financial Group LLC raised its position in Carvana by 46.3% during the fourth quarter. Merit Financial Group LLC now owns 2,240 shares of the company’s stock valued at $945,000 after acquiring an additional 709 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Carvana by 270.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,054 shares of the company’s stock valued at $12,261,000 after acquiring an additional 21,201 shares during the last quarter. Farther Finance Advisors LLC grew its position in Carvana by 6.6% in the fourth quarter. Farther Finance Advisors LLC now owns 6,568 shares of the company’s stock worth $2,772,000 after acquiring an additional 404 shares in the last quarter. Finally, Sage Mountain Advisors LLC bought a new position in shares of Carvana during the 4th quarter valued at $230,000. Institutional investors and hedge funds 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.