Robert W. Baird Raises Carvana (NYSE:CVNA) Price Target to $65.00

Carvana (NYSE:CVNA) had its price objective boosted by Robert W. Baird from $60.00 to $65.00 in a research note issued to investors on Friday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

A number of other research analysts have also recently commented on CVNA. Wedbush upped their target price on shares of Carvana from $40.00 to $50.00 and gave the company a neutral rating in a research report on Tuesday, February 20th. Raymond James upgraded Carvana from an underperform rating to a market perform rating in a report on Friday, February 23rd. Morgan Stanley boosted their price target on shares of Carvana from $32.00 to $45.00 and gave the stock an underweight rating in a research note on Monday, February 26th. Jefferies Financial Group raised shares of Carvana from an underperform rating to a hold rating and raised their price target for the company from $30.00 to $85.00 in a research report on Tuesday, March 12th. Finally, William Blair upgraded Carvana from a market perform rating to an outperform rating in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Carvana presently has a consensus rating of Hold and an average target price of $53.87.

Carvana Trading Up 0.1 %

CVNA opened at $71.44 on Friday. The stock has a fifty day moving average price of $75.53 and a 200-day moving average price of $52.80. The firm has a market cap of $14.42 billion, a price-to-earnings ratio of 132.30 and a beta of 3.32. Carvana has a 12 month low of $6.70 and a 12 month high of $94.04.

Carvana (NYSE:CVNA) last posted its earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Carvana’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period last year, the business posted ($0.97) earnings per share. On average, equities research analysts forecast that Carvana will post -3.4 EPS for the current year.

Insider Activity

In related news, insider Paul W. Breaux sold 15,000 shares of Carvana stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the sale, the insider now directly owns 150,126 shares in the company, valued at approximately $10,358,694. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Benjamin E. Huston sold 9,296 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $82.92, for a total transaction of $770,824.32. Following the transaction, the chief operating officer now directly owns 178,885 shares in the company, valued at $14,833,144.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul W. Breaux sold 15,000 shares of Carvana stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the completion of the transaction, the insider now directly owns 150,126 shares in the company, valued at $10,358,694. The disclosure for this sale can be found here. In the last quarter, insiders sold 187,883 shares of company stock worth $15,505,178. Corporate insiders own 17.18% of the company’s stock.

Institutional Investors Weigh In On Carvana

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. purchased a new position in shares of Carvana during the fourth quarter worth about $29,000. Vanguard Group Inc. lifted its position in Carvana by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock worth $393,268,000 after acquiring an additional 62,820 shares during the period. Quantbot Technologies LP purchased a new position in shares of Carvana in the 3rd quarter valued at approximately $2,879,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Carvana by 56.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock valued at $32,684,000 after purchasing an additional 280,851 shares during the period. Finally, TD Asset Management Inc purchased a new stake in shares of Carvana during the third quarter worth approximately $22,906,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

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.