Carvana (NYSE:CVNA) PT Raised to $105.00 at Robert W. Baird

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Carvana (NYSE:CVNA) had its price target hoisted by stock analysts at Robert W. Baird from $90.00 to $105.00 in a note issued to investors on Monday, The Fly reports. Robert W. Baird’s target price would indicate a potential upside of 14.32% from the stock’s previous close.

CVNA has been the subject of several other research reports. JPMorgan Chase & Co. increased their target price on shares of Carvana from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 19th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Carvana from a “hold” rating to a “sell” rating in a research note on Monday, May 25th. Stephens increased their target price on shares of Carvana from $75.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. William Blair reiterated a “buy” rating on shares of Carvana in a research note on Wednesday, February 19th. Finally, Oppenheimer increased their target price on shares of Carvana from $95.00 to $127.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $89.90.

NYSE CVNA traded down $1.13 during trading hours on Monday, hitting $91.85. The company had a trading volume of 1,428,037 shares, compared to its average volume of 3,053,983. The company has a debt-to-equity ratio of 82.86, a quick ratio of 0.49 and a current ratio of 1.24. Carvana has a 1-year low of $22.16 and a 1-year high of $115.23. The company has a market cap of $15.84 billion, a PE ratio of -27.26 and a beta of 2.38. The business has a 50 day moving average of $85.63 and a 200-day moving average of $82.06.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.55). Carvana had a negative net margin of 3.89% and a negative return on equity of 127.13%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the company earned ($0.53) EPS. The business’s revenue was up 45.4% on a year-over-year basis. Sell-side analysts expect that Carvana will post -3.31 earnings per share for the current fiscal year.

In other Carvana news, major shareholder Ernest C. Garcia II acquired 555,556 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was acquired at an average cost of $45.00 per share, with a total value of $25,000,020.00. Following the purchase, the insider now directly owns 52,937,458 shares in the company, valued at approximately $2,382,185,610. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Spruce House Partnership Llc sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $29.41, for a total transaction of $29,410,000.00. The disclosure for this sale can be found here. Company insiders own 12.25% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Strs Ohio boosted its position in Carvana by 49.5% during the fourth quarter. Strs Ohio now owns 3,765 shares of the company’s stock worth $346,000 after acquiring an additional 1,246 shares during the last quarter. California Public Employees Retirement System boosted its position in Carvana by 8.7% during the fourth quarter. California Public Employees Retirement System now owns 94,170 shares of the company’s stock worth $8,668,000 after acquiring an additional 7,550 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Carvana during the fourth quarter worth approximately $661,000. First Trust Advisors LP boosted its position in Carvana by 13.9% during the fourth quarter. First Trust Advisors LP now owns 333,362 shares of the company’s stock worth $30,686,000 after acquiring an additional 40,702 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in Carvana by 17.0% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 48,673 shares of the company’s stock worth $4,480,000 after acquiring an additional 7,080 shares during the last quarter. 52.20% of the stock is 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 proprietary 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.

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Analyst Recommendations for Carvana (NYSE:CVNA)

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