JMP Securities Reaffirms Market Outperform Rating for Carvana (NYSE:CVNA)

JMP Securities restated their market outperform rating on shares of Carvana (NYSE:CVNA - Free Report) in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a $320.00 price target on the stock.

Several other brokerages also recently issued reports on CVNA. Stephens initiated coverage on shares of Carvana in a research note on Thursday, September 12th. They issued an "overweight" rating and a $190.00 price objective on the stock. Robert W. Baird increased their target price on shares of Carvana from $160.00 to $240.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Jefferies Financial Group upped their price target on Carvana from $150.00 to $185.00 and gave the company a "hold" rating in a report on Tuesday, October 22nd. Wedbush boosted their price objective on Carvana from $150.00 to $175.00 and gave the company a "neutral" rating in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. raised their target price on Carvana from $230.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $222.71.

Carvana Stock Up 3.0 %

Shares of CVNA traded up $7.44 during mid-day trading on Monday, hitting $255.69. 2,916,499 shares of the company's stock were exchanged, compared to its average volume of 4,536,287. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The stock has a market cap of $53.09 billion, a price-to-earnings ratio of 25,569.00 and a beta of 3.32. Carvana has a twelve month low of $40.21 and a twelve month high of $268.34. The firm has a fifty day moving average of $230.16 and a two-hundred day moving average of $170.44.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $3.47 billion. During the same period in the prior year, the company posted $0.23 EPS. The business's revenue was up 31.8% on a year-over-year basis. On average, sell-side analysts forecast that Carvana will post 0.76 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $155.00, for a total value of $15,500,000.00. Following the sale, the insider now directly owns 40,058,131 shares in the company, valued at $6,209,010,305. The trade was a 0.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ryan S. Keeton sold 24,845 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The shares were 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 owns 151,029 shares in the company, valued at $37,440,089.10. The trade was a 14.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,071,908 shares of company stock worth $395,374,785. Insiders own 17.12% of the company's stock.

Hedge Funds Weigh In On Carvana

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC raised its stake in 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. Whale Rock Capital Management LLC bought a new stake in shares of Carvana in the third quarter valued at approximately $162,953,000. Sylebra Capital LLC acquired a new stake in Carvana during the second quarter worth approximately $67,686,000. Lord Abbett & CO. LLC increased its stake in Carvana by 1,454.1% during the 3rd quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company's stock worth $93,754,000 after acquiring an additional 503,824 shares during the period. Finally, Senator Investment Group LP acquired a new position in Carvana in the 2nd quarter valued at $63,767,000. 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.