Carvana (NYSE:CVNA) Price Target Raised to $260.00 at DA Davidson

Carvana (NYSE:CVNA - Get Free Report) had its price target boosted by equities research analysts at DA Davidson from $220.00 to $260.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. DA Davidson's price target indicates a potential upside of 16.52% from the company's previous close.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. increased their price objective on Carvana from $300.00 to $350.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Stephens reiterated an "overweight" rating and set a $300.00 price target on shares of Carvana in a research note on Thursday, February 6th. William Blair restated an "outperform" rating on shares of Carvana in a research note on Thursday. Morgan Stanley upgraded shares of Carvana from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $110.00 to $260.00 in a research report on Tuesday, November 5th. Finally, Wedbush reissued a "neutral" rating and issued a $250.00 price target on shares of Carvana in a research report on Thursday, February 6th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $265.06.

Carvana Stock Performance

Shares of NYSE:CVNA traded down $24.58 during midday trading on Thursday, reaching $223.14. The company had a trading volume of 6,856,676 shares, compared to its average volume of 4,083,558. The stock has a market cap of $46.33 billion, a P/E ratio of 142.13 and a beta of 3.37. The company's 50 day moving average price is $234.35 and its 200 day moving average price is $207.79. 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 has a 52-week low of $49.38 and a 52-week high of $292.84.

Carvana (NYSE:CVNA - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 446.67%. The firm had revenue of $3.55 billion for the quarter, compared to analysts' expectations of $3.32 billion. As a group, sell-side analysts anticipate that Carvana will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul W. Breaux sold 1,362 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $270.08, for a total value of $367,848.96. Following the sale, the insider now directly owns 153,240 shares of the company's stock, valued at $41,387,059.20. This trade represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 sale, the insider now owns 151,029 shares of the company's stock, valued at approximately $37,440,089.10. The trade was a 14.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 173,629 shares of company stock worth $44,833,799. Corporate insiders own 17.12% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Carvana by 90.8% during the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company's stock valued at $2,152,311,000 after purchasing an additional 5,882,656 shares during the last quarter. Vanguard Group Inc. boosted its stake in Carvana by 5.6% in the fourth quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company's stock worth $2,323,463,000 after buying an additional 610,234 shares in the last quarter. Lingotto Investment Management LLP grew its position in Carvana by 1.5% during the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock valued at $810,827,000 after acquiring an additional 57,215 shares during the last quarter. Durable Capital Partners LP raised its stake in shares of Carvana by 6.3% during the fourth quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock worth $440,932,000 after acquiring an additional 129,246 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings 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 acquiring an additional 75,250 shares during the last quarter. Institutional investors 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.