Carvana's (CVNA) "Buy" Rating Reiterated at Needham & Company LLC

Carvana (NYSE:CVNA - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports. They presently have a $330.00 target price on the stock. Needham & Company LLC's price target points to a potential upside of 66.10% from the company's previous close.

Several other analysts also recently issued reports on the company. Jefferies Financial Group lifted their price target on Carvana from $150.00 to $185.00 and gave the company a "hold" rating in a research note on Tuesday, October 22nd. Robert W. Baird boosted their price target on Carvana from $160.00 to $240.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Bank of America boosted their price target on Carvana from $185.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Wells Fargo & Company reduced their price objective on Carvana from $300.00 to $275.00 and set an "overweight" rating for the company in a report on Monday. Finally, Wedbush boosted their price objective on Carvana from $150.00 to $175.00 and gave the stock a "neutral" rating in a report on Monday, October 7th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $237.12.

Carvana Trading Up 5.2 %

Shares of NYSE:CVNA traded up $9.82 during midday trading on Tuesday, hitting $198.67. The company had a trading volume of 9,114,214 shares, compared to its average volume of 9,900,774. Carvana has a 12 month low of $40.21 and a 12 month high of $268.34. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The stock has a market cap of $41.25 billion, a price-to-earnings ratio of 19,886.89 and a beta of 3.38. The firm has a fifty day simple moving average of $236.34 and a 200 day simple moving average of $181.99.

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

Insider Transactions at Carvana

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $190.70, for a total value of $19,070,000.00. Following the completion of the sale, the insider now directly owns 38,458,131 shares in the company, valued at $7,333,965,581.70. This represents a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Benjamin E. Huston sold 3,043 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $240.00, for a total value of $730,320.00. Following the completion of the sale, the chief operating officer now owns 218,686 shares of the company's stock, valued at $52,484,640. The trade was a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,151,908 shares of company stock worth $237,894,285. Corporate insiders own 17.12% of the company's stock.

Institutional Trading of Carvana

Institutional investors have recently bought and sold shares of the company. Sugarloaf Wealth Management LLC acquired a new position in Carvana during the 3rd quarter valued at about $32,000. Versant Capital Management Inc bought a new position in shares of Carvana during the 4th quarter worth approximately $42,000. Capital Performance Advisors LLP bought a new position in shares of Carvana during the 3rd quarter worth approximately $40,000. First Horizon Advisors Inc. lifted its position in shares of Carvana by 363.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company's stock worth $44,000 after buying an additional 196 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new position in shares of Carvana during the 2nd quarter worth approximately $51,000. Institutional investors own 56.71% of the company's stock.

About Carvana

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.