Carvana Co. (NYSE:CVNA) Receives Average Rating of “Hold” from Analysts

Carvana Co. (NYSE:CVNA) has been assigned an average rating of “Hold” from the fourteen brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $50.60.

Several research firms have recently weighed in on CVNA. Wedbush increased their price target on shares of Carvana from $40.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, February 20th. William Blair upgraded Carvana from a “market perform” rating to an “outperform” rating in a research report on Friday, February 23rd. Royal Bank of Canada upgraded Carvana from an “underperform” rating to a “sector perform” rating and increased their price target for the stock from $45.00 to $90.00 in a report on Friday, March 8th. Evercore ISI upped their price objective on shares of Carvana from $75.00 to $78.00 and gave the stock an “in-line” rating in a report on Tuesday, April 2nd. Finally, JMP Securities boosted their target price on Carvana from $60.00 to $80.00 and gave the company a “market outperform” rating in a research report on Friday, February 23rd.

Carvana Price Performance

CVNA stock opened at $83.68 on Friday. Carvana has a 1-year low of $6.70 and a 1-year high of $94.04. The business has a 50-day moving average price of $70.94 and a 200 day moving average price of $50.65. The company has a market capitalization of $16.89 billion, a P/E ratio of 154.97 and a beta of 3.32.

Carvana (NYSE:CVNA) last posted its earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. Carvana’s revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.97) EPS. On average, analysts anticipate that Carvana will post -3.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, insider Paul W. Breaux sold 20,000 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $89.00, for a total transaction of $1,780,000.00. Following the transaction, the insider now owns 115,032 shares of the company’s stock, valued at approximately $10,237,848. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Paul W. Breaux sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $69.00, for a total value of $1,035,000.00. Following the completion of the transaction, the insider now owns 150,126 shares in the company, valued at $10,358,694. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul W. Breaux sold 20,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $89.00, for a total transaction of $1,780,000.00. Following the completion of the sale, the insider now directly owns 115,032 shares in the company, valued at $10,237,848. The disclosure for this sale can be found here. Insiders have sold 137,883 shares of company stock valued at $11,498,678 over the last three months. 17.18% of the stock is currently owned by insiders.

Institutional Trading of Carvana

Institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC boosted its holdings in shares of Carvana by 39.0% in the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after buying an additional 194 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Carvana by 1.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,160 shares of the company’s stock valued at $697,000 after acquiring an additional 249 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Carvana by 17.0% in the first quarter. Geneos Wealth Management Inc. now owns 1,929 shares of the company’s stock valued at $230,000 after buying an additional 280 shares during the last quarter. Diversified Trust Co raised its position in shares of Carvana by 6.0% in the fourth quarter. Diversified Trust Co now owns 5,659 shares of the company’s stock valued at $300,000 after purchasing an additional 319 shares during the period. Finally, Corient Private Wealth LLC grew its position in shares of Carvana by 5.6% in the fourth quarter. Corient Private Wealth LLC now owns 6,713 shares of the company’s stock valued at $355,000 after purchasing an additional 358 shares during the last quarter. Institutional investors 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.