William Blair Reiterates “Outperform” Rating for Carvana (NYSE:CVNA)

William Blair reiterated their outperform rating on shares of Carvana (NYSE:CVNA) in a research note published on Thursday morning, RTT News reports.

Several other equities analysts also recently commented on CVNA. Wedbush boosted their price objective on Carvana from $80.00 to $120.00 and gave the company a neutral rating in a research report on Thursday. JMP Securities reissued a market outperform rating and issued a $80.00 price target on shares of Carvana in a report on Wednesday, April 17th. Raymond James upgraded Carvana from an underperform rating to a market perform rating in a research note on Friday, February 23rd. Wells Fargo & Company lifted their price objective on shares of Carvana from $60.00 to $77.00 and gave the company an equal weight rating in a research report on Thursday. Finally, Needham & Company LLC restated a hold rating on shares of Carvana in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Carvana has a consensus rating of Hold and an average target price of $73.44.

Carvana Trading Up 4.4 %

Carvana stock opened at $121.67 on Thursday. Carvana has a 12-month low of $6.92 and a 12-month high of $124.20. The firm has a market capitalization of $24.57 billion, a price-to-earnings ratio of 53.36 and a beta of 3.28. The firm has a 50 day moving average of $81.81 and a 200 day moving average of $56.03.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the previous year, the business posted ($0.97) earnings per share. Carvana’s quarterly revenue was down 14.6% on a year-over-year basis. On average, analysts predict that Carvana will post -3.05 EPS for the current year.

Insider Buying and Selling

In other news, insider Ryan S. Keeton sold 8,250 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $115.55, for a total value of $953,287.50. Following the completion of the sale, the insider now directly owns 187,256 shares of the company’s stock, valued at approximately $21,637,430.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Carvana news, insider Ryan S. Keeton sold 8,250 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $115.55, for a total transaction of $953,287.50. Following the transaction, the insider now owns 187,256 shares in the company, valued at $21,637,430.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul W. Breaux sold 15,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the completion of the sale, the insider now owns 150,126 shares of the company’s stock, valued at approximately $10,358,694. The disclosure for this sale can be found here. Over the last quarter, insiders sold 442,233 shares of company stock worth $38,200,169. Corporate insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Blue Trust Inc. bought a new stake in shares of Carvana during the 4th quarter worth approximately $29,000. Vanguard Group Inc. increased its stake in Carvana by 0.7% in the third quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock worth $393,268,000 after purchasing an additional 62,820 shares during the period. Quantbot Technologies LP bought a new stake in shares of Carvana during the third quarter worth $2,879,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Carvana by 56.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock valued at $32,684,000 after purchasing an additional 280,851 shares during the period. Finally, TD Asset Management Inc bought a new position in shares of Carvana in the third quarter worth about $22,906,000. 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.