JMP Securities Lowers Carvana (NYSE:CVNA) Price Target to $275.00

Carvana (NYSE:CVNA - Free Report) had its price target reduced by JMP Securities from $340.00 to $275.00 in a research report released on Wednesday,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company decreased their target price on shares of Carvana from $300.00 to $275.00 and set an "overweight" rating on the stock in a research report on Monday, January 6th. DA Davidson raised their target price on shares of Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Citigroup lowered their price objective on Carvana from $320.00 to $280.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Piper Sandler raised Carvana from a "neutral" rating to an "overweight" rating in a report on Monday, March 31st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $253.59.

Carvana Stock Down 2.0 %

Shares of NYSE:CVNA traded down $4.17 during midday trading on Wednesday, reaching $202.03. The company had a trading volume of 1,678,262 shares, compared to its average volume of 4,071,993. The stock has a market cap of $43.07 billion, a PE ratio of 128.68 and a beta of 3.61. Carvana has a 1-year low of $67.61 and a 1-year high of $292.84. The business's 50 day moving average price is $216.20 and its 200 day moving average price is $220.58. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82.

Remove Ads

Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. Research analysts forecast that Carvana will post 2.85 EPS for the current fiscal year.

Insider Activity

In related news, CFO Mark W. Jenkins sold 10,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the completion of the sale, the chief financial officer now owns 219,962 shares in the company, valued at approximately $55,016,895.44. This trade represents a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul W. Breaux sold 1,362 shares of the company's stock in a transaction 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 transaction, the insider now directly owns 153,240 shares in the company, valued at $41,387,059.20. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 330,810 shares of company stock worth $69,243,820 over the last quarter. Insiders own 17.12% of the company's stock.

Hedge Funds Weigh In On Carvana

A number of institutional investors have recently made changes to their positions in the stock. Fidelis Capital Partners LLC boosted its position in Carvana by 3.4% during the fourth quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company's stock valued at $313,000 after buying an additional 51 shares during the period. Bleakley Financial Group LLC boosted its holdings 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 acquiring an additional 65 shares during the period. EverSource Wealth Advisors LLC grew its position in Carvana by 21.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock worth $87,000 after acquiring an additional 74 shares during the last quarter. Great Lakes Advisors LLC increased its stake in Carvana by 2.1% in the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company's stock worth $752,000 after purchasing an additional 77 shares during the period. Finally, Global Retirement Partners LLC lifted its position in Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after purchasing an additional 78 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.