Carvana (NYSE:CVNA) Price Target Raised to $340.00

Carvana (NYSE:CVNA - Free Report) had its price objective upped by Needham & Company LLC from $330.00 to $340.00 in a report released on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

CVNA has been the topic of a number of other reports. Wedbush reissued a "neutral" rating and issued a $250.00 price target on shares of Carvana in a research note on Thursday, February 6th. Royal Bank of Canada raised Carvana from a "sector perform" rating to an "outperform" rating and raised their price target for the stock from $270.00 to $280.00 in a research note on Tuesday, January 7th. JPMorgan Chase & Co. raised their price objective on Carvana from $300.00 to $350.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. JMP Securities restated a "market outperform" rating and issued a $320.00 price objective on shares of Carvana in a report on Monday, December 16th. Finally, Piper Sandler raised their price objective on Carvana from $151.00 to $225.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $265.06.

Carvana Price Performance

Shares of CVNA traded down $24.58 during trading hours on Thursday, reaching $223.14. 6,856,676 shares of the company traded hands, compared to its average volume of 4,083,558. 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 capitalization of $46.33 billion, a PE ratio of 142.13 and a beta of 3.37. Carvana has a fifty-two week low of $49.38 and a fifty-two week high of $292.84. The stock has a fifty day simple moving average of $234.35 and a 200 day simple moving average of $207.79.

Carvana (NYSE:CVNA - Get Free Report) last issued 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 446.67% 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. As a group, research analysts predict that Carvana will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling at Carvana

In other Carvana news, insider Paul W. Breaux sold 1,362 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was 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. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel J. Gill sold 44,000 shares of Carvana stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total value of $11,416,680.00. Following the completion of the transaction, the insider now owns 191,225 shares of the company's stock, valued at approximately $49,617,150.75. The trade was a 18.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 173,629 shares of company stock worth $44,833,799 in the last 90 days. 17.12% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Fidelis Capital Partners LLC boosted its position in Carvana by 3.4% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company's stock valued at $313,000 after purchasing an additional 51 shares during the period. Bleakley Financial Group LLC boosted its position in Carvana by 2.8% during the 4th quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company's stock valued at $483,000 after purchasing an additional 65 shares during the period. EverSource Wealth Advisors LLC boosted its position in Carvana by 21.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock valued at $87,000 after purchasing an additional 74 shares during the period. Forum Financial Management LP boosted its position in Carvana by 3.8% during the 3rd quarter. Forum Financial Management LP now owns 2,071 shares of the company's stock valued at $361,000 after purchasing an additional 76 shares during the period. Finally, Great Lakes Advisors LLC boosted its position in Carvana by 2.1% during the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company's stock valued at $752,000 after purchasing an additional 77 shares during the period. Institutional investors and hedge funds 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.