Carvana (NYSE:CVNA) Given New $70.00 Price Target at TD Cowen

Carvana (NYSE:CVNA) had its price target boosted by TD Cowen from $58.00 to $70.00 in a report published on Monday, Benzinga reports. The firm currently has a hold rating on the stock.

Other research analysts also recently issued research reports about the company. Wedbush reiterated a neutral rating and set a $80.00 price target (up previously from $60.00) on shares of Carvana in a research note on Thursday, April 25th. JMP Securities reiterated a market outperform rating and set a $80.00 target price on shares of Carvana in a research report on Wednesday, April 17th. Royal Bank of Canada raised shares of Carvana from an underperform rating to a sector perform rating and boosted their price target for the company from $45.00 to $90.00 in a research report on Friday, March 8th. Jefferies Financial Group raised shares of Carvana from an underperform rating to a hold rating and raised their price objective for the stock from $30.00 to $85.00 in a report on Tuesday, March 12th. Finally, Robert W. Baird boosted their target price on shares of Carvana from $60.00 to $65.00 and gave the company a neutral rating in a report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $56.75.

Carvana Stock Down 0.6 %

CVNA opened at $83.83 on Monday. The company’s 50-day moving average price is $78.09 and its two-hundred day moving average price is $54.27. Carvana has a twelve month low of $6.70 and a twelve month high of $94.04. The stock has a market cap of $16.93 billion, a price-to-earnings ratio of 155.24 and a beta of 3.32.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter last year, the firm posted ($0.97) EPS. The company’s revenue was down 14.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Carvana will post -3.32 earnings per share for the current year.

Insider Activity at Carvana

In other news, insider Paul W. Breaux sold 15,000 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the sale, the insider now owns 150,126 shares in the company, valued at approximately $10,358,694. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Paul W. Breaux sold 15,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was 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 directly owns 150,126 shares in the company, valued at approximately $10,358,694. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stephen R. Palmer sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $86.75, for a total value of $433,750.00. Following the completion of the sale, the vice president now owns 62,514 shares of the company’s stock, valued at approximately $5,423,089.50. The disclosure for this sale can be found here. Insiders have sold 187,883 shares of company stock valued at $15,505,178 over the last three months. 17.12% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Carvana

A number of large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. bought a new position in shares of Carvana during the fourth quarter valued at about $29,000. Parallel Advisors LLC grew its position in Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after acquiring an additional 194 shares during the last quarter. Hanseatic Management Services Inc. purchased a new position in Carvana in the 3rd quarter worth approximately $34,000. Tidemark LLC purchased a new position in Carvana in the 4th quarter worth approximately $50,000. Finally, Harvest Fund Management Co. Ltd lifted its position in Carvana by 1,225.6% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,193 shares of the company’s stock valued at $50,000 after purchasing an additional 1,103 shares during the last quarter. Hedge funds and other 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.