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Carvana Co. (NYSE:CVNA) Given Average Rating of "Moderate Buy" by Analysts

Carvana logo with Retail/Wholesale background

Shares of Carvana Co. (NYSE:CVNA - Get Free Report) have received a consensus rating of "Moderate Buy" from the nineteen brokerages that are currently covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $244.88.

A number of research firms recently weighed in on CVNA. Piper Sandler raised their price target on Carvana from $151.00 to $225.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. JMP Securities reaffirmed a "market outperform" rating and set a $320.00 price target on shares of Carvana in a report on Monday, December 16th. Wells Fargo & Company dropped their price target on Carvana from $300.00 to $275.00 and set an "overweight" rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. raised their price target on Carvana from $300.00 to $350.00 and gave the company an "overweight" rating in a report on Friday. Finally, Stephens reaffirmed an "overweight" rating and set a $300.00 price target on shares of Carvana in a report on Thursday, January 2nd.

Get Our Latest Stock Analysis on CVNA

Insider Buying and Selling

In other news, insider Ryan S. Keeton sold 24,845 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $247.90, for a total value of $6,159,075.50. Following the completion of the sale, the insider now directly owns 151,029 shares of the company's stock, valued at $37,440,089.10. This trade represents a 14.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Daniel J. Gill sold 44,000 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $259.47, for a total value of $11,416,680.00. Following the completion of the sale, the insider now directly owns 191,225 shares of the company's stock, valued at approximately $49,617,150.75. The trade was a 18.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 347,340 shares of company stock worth $81,044,588. 17.12% of the stock is owned by corporate insiders.

Institutional Trading of Carvana

A number of hedge funds have recently made changes to their positions in the business. FMR LLC increased its stake in Carvana by 90.8% during the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company's stock worth $2,152,311,000 after acquiring an additional 5,882,656 shares during the period. Whale Rock Capital Management LLC acquired a new position in shares of Carvana in the 3rd quarter valued at about $162,953,000. Lord Abbett & CO. LLC lifted its stake in shares of Carvana by 1,454.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company's stock valued at $93,754,000 after purchasing an additional 503,824 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Carvana in the 2nd quarter valued at about $37,728,000. Finally, Eagle Asset Management Inc. bought a new stake in Carvana in the 3rd quarter valued at about $50,531,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Carvana Stock Up 1.6 %

CVNA stock traded up $3.82 during mid-day trading on Thursday, hitting $247.76. The stock had a trading volume of 3,449,636 shares, compared to its average volume of 4,030,397. The stock has a market capitalization of $51.44 billion, a price-to-earnings ratio of 24,800.30 and a beta of 3.38. The company has a fifty day moving average of $230.58 and a 200 day moving average of $194.27. Carvana has a 1-year low of $40.21 and a 1-year high of $268.34. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the previous year, the company earned $0.23 EPS. Carvana's revenue for the quarter was up 31.8% compared to the same quarter last year. On average, equities analysts expect that Carvana will post 0.88 EPS for the current fiscal year.

Carvana Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Carvana (NYSE:CVNA)

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