Carvana (NYSE:CVNA) Price Target Raised to $510.00

Carvana (NYSE:CVNA) had its price objective increased by JPMorgan Chase & Co. from $490.00 to $510.00 in a research note released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also weighed in on CVNA. Gordon Haskett reduced their price target on shares of Carvana from $445.00 to $435.00 and set a “hold” rating for the company in a research report on Monday, January 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Carvana in a report on Monday, December 29th. Bank of America upped their price target on Carvana from $455.00 to $515.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Zacks Research cut shares of Carvana from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Wedbush upped their price objective on shares of Carvana from $400.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, December 19th. Nineteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and an average price target of $474.27.

Carvana Trading Down 6.3%

Shares of Carvana stock opened at $400.36 on Wednesday. The stock has a fifty day simple moving average of $431.93 and a 200 day simple moving average of $378.97. The company has a market capitalization of $87.09 billion, a P/E ratio of 91.41, a price-to-earnings-growth ratio of 1.03 and a beta of 3.54. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63. Carvana has a 12-month low of $148.25 and a 12-month high of $486.89.

Carvana (NYSE:CVNA) last released its quarterly 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). Carvana had a net margin of 3.44% and a return on equity of 30.62%. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The firm’s revenue for the quarter was up 54.5% on a year-over-year basis. On average, sell-side analysts anticipate that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Daniel J. Gill sold 40,000 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $475.24, for a total transaction of $19,009,600.00. Following the completion of the sale, the insider directly owned 191,106 shares in the company, valued at $90,821,215.44. This represents a 17.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Benjamin E. Huston sold 10,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $401.94, for a total transaction of $4,019,400.00. Following the completion of the sale, the chief operating officer directly owned 99,871 shares in the company, valued at approximately $40,142,149.74. This trade represents a 9.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 435,256 shares of company stock valued at $182,324,727. Corporate insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hilltop National Bank bought a new position in shares of Carvana in the second quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Carvana during the 4th quarter valued at about $29,000. ORG Partners LLC increased its holdings in Carvana by 8,700.0% during the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after buying an additional 87 shares during the last quarter. Salomon & Ludwin LLC increased its stake in shares of Carvana by 112.5% in the 4th quarter. Salomon & Ludwin LLC now owns 85 shares of the company’s stock worth $37,000 after purchasing an additional 45 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in Carvana in the third quarter worth about $38,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Trending Headlines about Carvana

Here are the key news stories impacting Carvana this week:

• Positive Sentiment: Analysts and brokers publicly defended Carvana and some raised price targets, which has supported intraday rebounds and suggests parts of Wall Street view the short report as overstated. Carvana stock rises as analysts defend company following short report
• Positive Sentiment: Underlying fundamentals cited by defenders: recent quarter showed record revenue, positive GAAP operating income and improved liquidity / debt reduction — arguments that the business is cash?generating and operationally stronger than critics claim. Carvana Drops 14% After $1B Accounting Allegations
• Neutral Sentiment: Positive style?score and momentum writeups (Zacks) highlight growth and momentum characteristics that appeal to risk?tolerant investors, but these are stylistic views not rebuttals of the short?seller’s claims. Why Carvana (CVNA) is a Top Momentum Stock for the Long-Term
• Neutral Sentiment: Short?term technical/flow traders are active: the stock swung sharply lower on the report then showed rebounds, indicating high intraday volatility that can create trading opportunities but also sharp losses. Stock Of The Day: Is This The Bottom For Carvana?
• Negative Sentiment: Gotham City Research released a detailed short report alleging >$1B of overstated earnings via undisclosed related?party transactions (DriveTime/Bridgecrest/GoFi). Those claims are the immediate catalyst for the sell?off and could materially change reported results if proven. Gotham City Research short report on Carvana
• Negative Sentiment: Multiple securities law firms have opened investigations and are soliciting plaintiffs (BFA, Rosen, Pomerantz, Kirby McInerney, Bragar, Moore Law), increasing the chance of class actions and litigation costs. Legal risk is now a major short?to?medium?term headwind. Bragar Eagel & Squire investigation notice
• Negative Sentiment: Regulatory and audit risks cited in the short report (an SEC subpoena referenced; same auditor across related entities) could lead to investigations, restatements or enforcement — outcomes that would likely pressure the stock well beyond current volatility. MarketBeat analysis of accounting allegations and regulatory risk

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.