Carvana (NYSE:CVNA) Given New $350.00 Price Target at JPMorgan Chase & Co.

Carvana (NYSE:CVNA) had its target price raised by JPMorgan Chase & Co. from $300.00 to $350.00 in a research report released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also issued reports on the company. Jefferies Financial Group boosted their price objective on Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Morgan Stanley upgraded Carvana from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $110.00 to $260.00 in a research report on Tuesday, November 5th. Stephens reiterated an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a research report on Thursday, January 2nd. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price objective on shares of Carvana in a research report on Monday, December 16th. Finally, Royal Bank of Canada upgraded Carvana from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $270.00 to $280.00 in a research report on Tuesday, January 7th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $244.88.

Carvana Stock Performance

Shares of NYSE:CVNA opened at $247.76 on Friday. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The stock has a market capitalization of $51.44 billion, a P/E ratio of 24,800.30 and a beta of 3.38. The business has a 50-day moving average price of $230.58 and a two-hundred day moving average price of $193.93. Carvana has a 1-year low of $40.21 and a 1-year high of $268.34.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.47 billion. The business’s revenue was up 31.8% compared to the same quarter last year. During the same period last year, the company earned $0.23 earnings per share. Equities analysts predict that Carvana will post 0.88 earnings per share for the current year.

Insider Transactions at Carvana

In other Carvana 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 completion of the transaction, the chief financial officer now owns 189,097 shares in the company, valued at approximately $37,961,222.75. The trade was a 5.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel J. Gill sold 44,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total value of $11,416,680.00. Following the completion of the transaction, the insider now owns 191,225 shares of the company’s stock, valued at $49,617,150.75. This represents a 18.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 347,340 shares of company stock valued at $81,044,588. Corporate insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Several large investors have recently modified their holdings of CVNA. Envestnet Asset Management Inc. grew its holdings in shares of Carvana by 155.7% in the second quarter. Envestnet Asset Management Inc. now owns 23,278 shares of the company’s stock worth $2,996,000 after acquiring an additional 14,174 shares during the period. Sei Investments Co. grew its holdings in Carvana by 158.3% during the second quarter. Sei Investments Co. now owns 11,165 shares of the company’s stock valued at $1,437,000 after purchasing an additional 6,843 shares during the period. Creative Planning grew its holdings in Carvana by 34.4% during the second quarter. Creative Planning now owns 15,296 shares of the company’s stock valued at $1,969,000 after purchasing an additional 3,913 shares during the period. SG Americas Securities LLC grew its holdings in Carvana by 804.0% during the third quarter. SG Americas Securities LLC now owns 9,989 shares of the company’s stock valued at $1,739,000 after purchasing an additional 8,884 shares during the period. Finally, Handelsbanken Fonder AB grew its holdings in Carvana by 16.6% during the third quarter. Handelsbanken Fonder AB now owns 27,400 shares of the company’s stock valued at $4,771,000 after purchasing an additional 3,900 shares during the period. 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.