Carvana (NYSE:CVNA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Carvana (NYSE:CVNA - Free Report) had its price target raised by JPMorgan Chase & Co. from $350.00 to $365.00 in a research note published on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

CVNA has been the topic of a number of other research reports. JMP Securities reissued a "market outperform" rating and set a $320.00 price target on shares of Carvana in a report on Monday, December 16th. William Blair reissued an "outperform" rating on shares of Carvana in a report on Thursday, February 20th. Wells Fargo & Company lowered their price target on Carvana from $300.00 to $275.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. Wedbush set a $250.00 price target on Carvana and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Finally, Robert W. Baird raised their price target on Carvana from $200.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $265.94.

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Carvana Stock Performance

Shares of CVNA stock traded up $1.34 during mid-day trading on Friday, hitting $188.19. 8,347,166 shares of the stock were exchanged, compared to its average volume of 4,293,713. The stock's fifty day simple moving average is $231.41 and its two-hundred day simple moving average is $213.28. The stock has a market capitalization of $40.11 billion, a price-to-earnings ratio of 119.86 and a beta of 3.56. Carvana has a 12-month low of $67.61 and a 12-month high of $292.84. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. On average, analysts forecast that Carvana will post 2.85 EPS for the current year.

Insider Activity

In other news, insider Ryan S. Keeton sold 24,845 shares of Carvana stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the completion of the sale, the insider now directly owns 151,029 shares in the company, valued at approximately $37,440,089.10. This trade represents a 14.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul W. Breaux sold 1,362 shares of Carvana stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $270.08, for a total transaction of $367,848.96. Following the sale, the insider now owns 153,240 shares of the company's stock, valued at approximately $41,387,059.20. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 119,629 shares of company stock worth $30,866,419. Company insiders own 17.18% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CVNA. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Carvana during the 3rd quarter worth approximately $377,000. QRG Capital Management Inc. raised its position in shares of Carvana by 16.2% during the 3rd quarter. QRG Capital Management Inc. now owns 6,713 shares of the company's stock worth $1,169,000 after purchasing an additional 935 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Carvana during the 3rd quarter worth approximately $40,000. Sigma Planning Corp acquired a new position in shares of Carvana during the 3rd quarter worth approximately $228,000. Finally, Axxcess Wealth Management LLC acquired a new position in shares of Carvana during the 3rd quarter worth approximately $784,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.