Carvana (NYSE:CVNA) Given New $330.00 Price Target at Needham & Company LLC

Carvana (NYSE:CVNA - Get Free Report) had its price target boosted by research analysts at Needham & Company LLC from $300.00 to $330.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's price target would suggest a potential upside of 35.23% from the company's current price.

Several other research firms have also commented on CVNA. Jefferies Financial Group upped their target price on Carvana from $150.00 to $185.00 and gave the company a "hold" rating in a research note on Tuesday, October 22nd. Royal Bank of Canada raised Carvana to a "sector perform" rating and increased their target price for the stock from $166.00 to $170.00 in a research report on Monday, August 19th. JMP Securities boosted their price target on Carvana from $200.00 to $320.00 and gave the company a "market outperform" rating in a research report on Thursday, October 31st. Evercore ISI increased their target price on shares of Carvana from $240.00 to $245.00 and gave the stock an "in-line" rating in a research report on Tuesday, December 3rd. Finally, Wedbush lifted their price target on shares of Carvana from $150.00 to $175.00 and gave the company a "neutral" rating in a research report on Monday, October 7th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $222.71.

Carvana Price Performance

Shares of NYSE:CVNA traded down $7.18 on Monday, reaching $244.03. 2,422,998 shares of the company were exchanged, compared to its average volume of 4,582,832. 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 1-year low of $37.47 and a 1-year high of $268.34. The company has a 50-day moving average of $221.77 and a 200-day moving average of $164.51. The firm has a market cap of $50.67 billion, a price-to-earnings ratio of 25,300.00 and a beta of 3.32.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to analysts' expectations of $3.47 billion. During the same quarter in the prior year, the firm earned $0.23 earnings per share. Carvana's quarterly revenue was up 31.8% on a year-over-year basis. Equities analysts forecast that Carvana will post 0.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the completion of the transaction, the insider now owns 40,058,131 shares in the company, valued at approximately $6,209,010,305. This trade represents a 0.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Mark W. Jenkins sold 208,495 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $224.43, for a total transaction of $46,792,532.85. Following the sale, the chief financial officer now directly owns 90,732 shares of the company's stock, valued at approximately $20,362,982.76. This represents a 69.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,022,063 shares of company stock valued at $383,108,209 in the last quarter. Corporate insiders own 17.12% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Optimist Retirement Group LLC acquired a new stake in shares of Carvana in the third quarter worth $289,000. Wilmington Savings Fund Society FSB purchased a new stake in Carvana in the 3rd quarter worth about $241,000. World Investment Advisors LLC acquired a new stake in Carvana during the 3rd quarter worth about $2,009,000. Sanctuary Advisors LLC purchased a new position in Carvana during the 3rd quarter valued at about $312,000. Finally, Geode Capital Management LLC increased its holdings in shares of Carvana by 7.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company's stock valued at $315,133,000 after purchasing an additional 131,059 shares during the period. 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.