Carvana Co. (NYSE:CVNA) Receives $383.47 Average Target Price from Analysts

Shares of Carvana Co. (NYSE:CVNA) have received a consensus rating of “Moderate Buy” from the eighteen research firms that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $383.4706.

A number of brokerages have issued reports on CVNA. Piper Sandler increased their target price on shares of Carvana from $340.00 to $440.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Gordon Haskett started coverage on shares of Carvana in a research report on Monday, July 14th. They set a “hold” rating and a $329.00 price target on the stock. William Blair reiterated an “outperform” rating on shares of Carvana in a research report on Wednesday, July 23rd. Stephens increased their price target on shares of Carvana from $300.00 to $375.00 and gave the stock an “overweight” rating in a research report on Monday, July 7th. Finally, Oppenheimer upgraded shares of Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 price target on the stock in a research report on Friday, July 25th.

Carvana Stock Performance

Shares of NYSE:CVNA opened at $357.1740 on Monday. The company’s 50 day moving average price is $340.09 and its two-hundred day moving average price is $278.86. Carvana has a 12-month low of $124.39 and a 12-month high of $413.33. The firm has a market cap of $76.86 billion, a PE ratio of 89.52, a PEG ratio of 1.12 and a beta of 3.57. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the prior year, the business posted ($0.05) EPS. The business’s revenue was up 41.9% compared to the same quarter last year. Equities research analysts predict that Carvana will post 2.85 earnings per share for the current year.

Insider Activity at Carvana

In related news, major shareholder Ernest C. Garcia II sold 95,087 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $349.09, for a total transaction of $33,193,920.83. Following the sale, the insider owned 34,442,317 shares in the company, valued at approximately $12,023,468,441.53. This trade represents a 0.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ernest C. Garcia III sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $338.27, for a total transaction of $3,382,700.00. Following the sale, the chief executive officer owned 516,440 shares in the company, valued at $174,696,158.80. This represents a 1.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,056,140 shares of company stock worth $1,063,857,548 in the last quarter. 17.12% of the stock is currently owned by company insiders.

Institutional Trading of Carvana

Hedge funds have recently added to or reduced their stakes in the stock. Hilltop National Bank acquired a new stake in Carvana in the second quarter valued at approximately $25,000. SJS Investment Consulting Inc. boosted its position in Carvana by 960.0% in the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 96 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Carvana in the 2nd quarter worth about $38,000. LRI Investments LLC bought a new position in Carvana in the second quarter valued at about $42,000. Finally, Brooklyn Investment Group raised its position in Carvana by 961.5% in the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Company Profile

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.