Carvana (NYSE:CVNA) Stock Price Expected to Rise, Citigroup Analyst Says

Carvana (NYSE:CVNA) had its price objective boosted by Citigroup from $277.00 to $320.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently commented on CVNA. Wedbush reissued a “neutral” rating and issued a $250.00 price target on shares of Carvana in a research report on Thursday, February 6th. Evercore ISI boosted their price target on Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a research report on Tuesday, December 3rd. Stephens reissued an “overweight” rating and issued a $300.00 price target on shares of Carvana in a research report on Thursday, February 6th. JPMorgan Chase & Co. boosted their price target on Carvana from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Bank of America boosted their price target on Carvana from $252.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $265.06.

Carvana Stock Performance

Carvana stock opened at $223.14 on Friday. The stock’s 50 day simple moving average is $234.35 and its two-hundred day simple moving average is $207.79. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The stock has a market cap of $46.33 billion, a price-to-earnings ratio of 142.13 and a beta of 3.37. Carvana has a fifty-two week low of $49.38 and a fifty-two week high of $292.84.

Carvana (NYSE:CVNA) last posted its quarterly earnings data 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 analysts’ expectations of $3.32 billion. Carvana had a return on equity of 446.67% and a net margin of 1.54%. As a group, analysts expect that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In other Carvana news, insider Daniel J. Gill sold 44,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the completion of the sale, the insider now directly owns 191,225 shares in the company, valued at approximately $49,617,150.75. The trade was a 18.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $255.07, for a total value of $2,550,700.00. Following the completion of the sale, the chief financial officer now owns 189,761 shares of the company’s stock, valued at $48,402,338.27. This trade represents a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 173,629 shares of company stock worth $44,833,799. Insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC increased its stake in shares of Carvana by 90.8% in the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after purchasing an additional 5,882,656 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Carvana by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock worth $2,323,463,000 after purchasing an additional 610,234 shares in the last quarter. Lingotto Investment Management LLP increased its stake in shares of Carvana by 1.5% in the 4th quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock worth $810,827,000 after purchasing an additional 57,215 shares in the last quarter. Durable Capital Partners LP increased its stake in shares of Carvana by 6.3% in the 4th quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company’s stock worth $440,932,000 after purchasing an additional 129,246 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Carvana by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company’s stock worth $381,592,000 after purchasing an additional 75,250 shares in the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

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.