Carvana (NYSE:CVNA) Price Target Raised to $320.00 at Royal Bank of Canada

Carvana (NYSE:CVNA) had its price objective upped by Royal Bank of Canada from $280.00 to $320.00 in a research note published on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

CVNA has been the subject of several other research reports. Stephens reaffirmed an “overweight” rating and issued a $300.00 target price on shares of Carvana in a research report on Thursday, February 6th. Piper Sandler upped their target price on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Evercore ISI raised their price target on Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a report on Tuesday, December 3rd. Robert W. Baird boosted their price objective on Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Wedbush reaffirmed a “neutral” rating and issued a $250.00 target price on shares of Carvana in a research report on Thursday, February 6th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and an average target price of $259.00.

Carvana Trading Down 12.0 %

NYSE CVNA opened at $248.03 on Thursday. The firm has a market capitalization of $51.50 billion, a price-to-earnings ratio of 24,827.83 and a beta of 3.37. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. Carvana has a one year low of $48.15 and a one year high of $292.84. The company’s 50 day moving average price is $234.85 and its 200 day moving average price is $207.18.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. On average, sell-side analysts predict that Carvana will post 0.87 EPS for the current year.

Insider Activity at Carvana

In other news, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the transaction, the chief financial officer now directly owns 189,097 shares in the company, valued at approximately $37,961,222.75. This trade represents a 5.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul W. Breaux sold 1,362 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the completion of the sale, the insider now directly owns 153,240 shares in the company, valued at $41,387,059.20. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 173,629 shares of company stock worth $44,833,799 in the last 90 days. Corporate insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Large investors have recently made changes to their positions in the business. Quent Capital LLC acquired a new position in shares of Carvana in the 4th quarter worth $28,000. Global Retirement Partners LLC boosted its position in shares of Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after purchasing an additional 78 shares during the period. Rialto Wealth Management LLC purchased a new position in Carvana in the 4th quarter worth about $31,000. ORG Wealth Partners LLC acquired a new stake in Carvana during the 4th quarter worth about $34,000. Finally, Capital Performance Advisors LLP purchased a new stake in Carvana during the third quarter valued at about $40,000. 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.