BNP Paribas Exane Lowers Carvana (NYSE:CVNA) Price Target to $69.00

Carvana (NYSE:CVNA) had its price target lowered by analysts at BNP Paribas Exane from $86.00 to $69.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. BNP Paribas Exane’s target price would indicate a potential upside of 14.96% from the stock’s previous close.

CVNA has been the subject of several other research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 price target on shares of Carvana in a report on Thursday. Barclays reiterated an “overweight” rating and issued a $94.00 price objective (up from $93.00) on shares of Carvana in a report on Tuesday, July 21st. Royal Bank Of Canada set a $82.00 target price on shares of Carvana and gave the stock an “outperform” rating in a report on Thursday. Bank of America increased their price target on shares of Carvana from $72.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, April 21st. Finally, Wells Fargo & Company set a $80.00 price objective on shares of Carvana and gave the stock an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Carvana currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.34.

Carvana Stock Performance

NYSE CVNA traded down $6.30 during trading on Thursday, reaching $60.02. 25,604,586 shares of the company’s stock were exchanged, compared to its average volume of 15,009,983. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.09 and a quick ratio of 2.57. The business has a 50 day moving average price of $67.03 and a 200-day moving average price of $71.05. The stock has a market capitalization of $65.83 billion, a P/E ratio of 36.48, a PEG ratio of 14.83 and a beta of 3.46. Carvana has a fifty-two week low of $54.46 and a fifty-two week high of $97.38.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The company had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same period last year, the firm posted $1.51 earnings per share. The business’s revenue was up 52.4% on a year-over-year basis. Sell-side analysts forecast that Carvana will post 1.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Mark W. Jenkins sold 63,750 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $68.34, for a total transaction of $4,356,675.00. Following the transaction, the chief financial officer directly owned 1,029,580 shares of the company’s stock, valued at approximately $70,361,497.20. This trade represents a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Stephen R. Palmer sold 5,000 shares of Carvana stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $68.53, for a total transaction of $342,650.00. Following the completion of the sale, the vice president owned 144,934 shares of the company’s stock, valued at $9,932,327.02. This trade represents a 3.33% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 396,962 shares of company stock valued at $28,525,088 in the last 90 days. 15.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CVNA. Vanguard Group Inc. boosted its stake in shares of Carvana by 24.7% in the fourth quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock valued at $7,082,804,000 after buying an additional 3,328,115 shares during the period. State Street Corp raised its holdings in Carvana by 93.7% in the 4th quarter. State Street Corp now owns 5,714,779 shares of the company’s stock valued at $2,411,751,000 after acquiring an additional 2,764,759 shares in the last quarter. Capital Research Global Investors raised its holdings in Carvana by 42.9% in the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock valued at $2,405,959,000 after acquiring an additional 1,711,144 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Carvana by 8.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock valued at $7,481,081,000 after acquiring an additional 1,407,762 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Carvana by 55.4% during the 4th quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock valued at $1,632,763,000 after acquiring an additional 1,382,852 shares during the period. 56.71% of the stock is owned by institutional investors.

Carvana News Summary

Here are the key news stories impacting Carvana this week:

• Positive Sentiment: Carvana reported record Q2 revenue of approximately $7.38 billion, up 52.4% year over year, while net income reached $513 million and adjusted EBITDA rose to a record $769 million. Retail units sold increased 38%, marking another quarter of substantial operating growth. Carvana shares slide despite record quarterly profit
• Positive Sentiment: Management highlighted continued investment in inventory expansion, software platforms and automation, including an AI customer-service agent intended to reduce costs and improve scalability. The company characterized Q2 as its 10th consecutive quarter of growth and profitability. Carvana Slashes Customer Service Costs Through AI Agent
• Positive Sentiment: Needham reaffirmed its buy rating and maintained a $120 price target, arguing that the recent weakness may create an attractive entry point and that the stock could potentially double over the next year. Needham says Carvana stock could double
• Neutral Sentiment: Citizens JMP and BTIG lowered their price targets to $83 and $87, respectively, but retained market outperform or buy ratings. The revisions indicate reduced near-term expectations while analysts remain constructive on Carvana’s longer-term prospects. Carvana reports record Q2 beat
• Negative Sentiment: Carvana forecast full-year adjusted EBITDA of $2.7 billion to $3.0 billion, with the midpoint below analyst estimates. Investors viewed the guidance as insufficient relative to the company’s strong Q2 performance, overshadowing the earnings and revenue beats. Carvana’s record quarter overshadowed by soft outlook

About Carvana

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.