Carvana (NYSE:CVNA) Given “Market Outperform” Rating at JMP Securities

Carvana (NYSE:CVNA)‘s stock had its “market outperform” rating reiterated by equities research analysts at JMP Securities in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $150.00 price objective on the stock. JMP Securities’ target price indicates a potential upside of 15.98% from the company’s previous close.

Several other equities analysts have also recently issued reports on CVNA. TD Cowen boosted their price target on Carvana from $58.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, April 29th. Robert W. Baird upped their price target on Carvana from $65.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Needham & Company LLC raised shares of Carvana from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research note on Wednesday. Wedbush restated a “neutral” rating and issued a $120.00 target price on shares of Carvana in a research note on Wednesday, June 26th. Finally, Jefferies Financial Group upgraded shares of Carvana from an “underperform” rating to a “hold” rating and boosted their price target for the stock from $30.00 to $85.00 in a research note on Tuesday, March 12th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $93.27.

Carvana Stock Up 2.9 %

CVNA traded up $3.63 during trading on Wednesday, hitting $129.33. 3,351,929 shares of the stock were exchanged, compared to its average volume of 5,562,553. The firm has a market capitalization of $26.20 billion, a P/E ratio of 56.72 and a beta of 3.37. The stock has a fifty day moving average price of $114.39 and a two-hundred day moving average price of $82.20. Carvana has a 1-year low of $25.09 and a 1-year high of $136.92.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.35. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.72 billion. Analysts predict that Carvana will post -0.75 EPS for the current year.

Insider Activity at Carvana

In other news, CEO Ernest C. Garcia III sold 18,100 shares of Carvana stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $116.24, for a total value of $2,103,944.00. Following the completion of the sale, the chief executive officer now owns 896,449 shares of the company’s stock, valued at $104,203,231.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Carvana news, COO Benjamin E. Huston sold 18,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $115.07, for a total transaction of $2,071,260.00. Following the completion of the sale, the chief operating officer now directly owns 213,548 shares in the company, valued at $24,572,968.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ernest C. Garcia III sold 18,100 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $116.24, for a total transaction of $2,103,944.00. Following the completion of the transaction, the chief executive officer now directly owns 896,449 shares in the company, valued at approximately $104,203,231.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,073,946 shares of company stock valued at $231,481,556. Company insiders own 17.18% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CVNA. CWM LLC raised its holdings in shares of Carvana by 19.5% during the 2nd quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after buying an additional 144 shares during the period. Hilltop National Bank purchased a new stake in shares of Carvana during the second quarter valued at approximately $68,000. Polianta Ltd acquired a new position in shares of Carvana during the second quarter worth $1,094,000. GAMMA Investing LLC boosted its stake in shares of Carvana by 127.9% in the second quarter. GAMMA Investing LLC now owns 458 shares of the company’s stock valued at $59,000 after purchasing an additional 257 shares during the period. Finally, Cetera Advisors LLC purchased a new stake in Carvana during the 1st quarter worth $461,000. Institutional investors and hedge funds 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.