Carvana (NYSE:CVNA) Shares Gap Up - Time to Buy?

Carvana Co. (NYSE:CVNA - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $172.22, but opened at $183.25. Carvana shares last traded at $180.90, with a volume of 891,416 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CVNA shares. Wells Fargo & Company lowered their price objective on Carvana from $300.00 to $275.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. JMP Securities restated a "market outperform" rating and issued a $320.00 price target on shares of Carvana in a research note on Monday, December 16th. Needham & Company LLC reiterated a "buy" rating and issued a $340.00 price objective on shares of Carvana in a research report on Friday, March 7th. Citigroup raised their target price on Carvana from $277.00 to $320.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. upped their price target on shares of Carvana from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $265.65.

Carvana Trading Down 7.6 %

The stock has a market cap of $35.32 billion, a price-to-earnings ratio of 105.52 and a beta of 3.56. The business has a fifty day simple moving average of $229.54 and a 200 day simple moving average of $213.65. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64.

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Carvana (NYSE:CVNA - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.27. The business had revenue of $3.55 billion for the quarter, compared to analysts' expectations of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. As a group, equities analysts anticipate that Carvana Co. will post 2.85 EPS for the current year.

Insider Buying and Selling at Carvana

In other Carvana news, insider Paul W. Breaux sold 1,362 shares of the business's stock in a transaction 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 completion of the sale, the insider now owns 153,240 shares in the company, valued at $41,387,059.20. The trade was a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark W. Jenkins sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $250.12, for a total value of $2,501,200.00. Following the completion of the sale, the chief financial officer now directly owns 219,962 shares in the company, valued at approximately $55,016,895.44. This trade represents a 4.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,784 shares of company stock valued at $18,599,844 in the last ninety days. Insiders own 17.12% of the company's stock.

Hedge Funds Weigh In On Carvana

Institutional investors and hedge funds have recently bought and sold shares of the stock. Siemens Fonds Invest GmbH bought a new position in Carvana during the fourth quarter valued at about $839,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Carvana in the 4th quarter valued at $36,527,000. Brucke Financial Inc. acquired a new position in shares of Carvana in the 4th quarter valued at $415,000. Mackenzie Financial Corp purchased a new position in Carvana in the 4th quarter worth about $1,153,000. Finally, Toronto Dominion Bank acquired a new stake in Carvana during the 4th quarter worth about $3,124,000. 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.