Recent Research Analysts’ Ratings Updates for Carvana (CVNA)

Carvana (NYSE: CVNA) has recently received a number of price target changes and ratings updates:

• 4/25/2024 – Carvana had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $80.00 price target on the stock, up previously from $60.00.
• 4/19/2024 – Carvana had its price target raised by analysts at Robert W. Baird from $60.00 to $65.00. They now have a “neutral” rating on the stock.
• 4/18/2024 – Carvana had its price target raised by analysts at JPMorgan Chase & Co. from $65.00 to $70.00. They now have a “neutral” rating on the stock.
• 4/17/2024 – Carvana had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $80.00 price target on the stock.
• 4/16/2024 – Carvana had its price target lowered by analysts at Evercore ISI from $78.00 to $77.00. They now have an “in-line” rating on the stock.
• 4/2/2024 – Carvana had its price target raised by analysts at Evercore ISI from $75.00 to $78.00. They now have an “in-line” rating on the stock.
• 3/26/2024 – Carvana had its price target raised by analysts at Evercore ISI from $68.00 to $75.00. They now have an “in-line” rating on the stock.
• 3/12/2024 – Carvana was upgraded by analysts at Jefferies Financial Group Inc. from an “underperform” rating to a “hold” rating. They now have a $85.00 price target on the stock, up previously from $30.00.
• 3/8/2024 – Carvana was upgraded by analysts at Royal Bank of Canada from an “underperform” rating to a “sector perform” rating. They now have a $90.00 price target on the stock, up previously from $45.00.

Carvana Price Performance

Shares of NYSE CVNA traded up $0.81 during trading hours on Monday, reaching $85.12. The stock had a trading volume of 2,960,502 shares, compared to its average volume of 5,981,865. The business’s fifty day moving average is $77.47 and its two-hundred day moving average is $53.92. The company has a market cap of $17.19 billion, a price-to-earnings ratio of 157.63 and a beta of 3.32. Carvana Co. has a twelve month low of $6.70 and a twelve month high of $94.04.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.56 billion. The firm’s revenue was down 14.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.97) EPS. Sell-side analysts forecast that Carvana Co. will post -3.32 earnings per share for the current fiscal year.

Insider Transactions at Carvana

In other Carvana news, insider Thomas Taira sold 4,197 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $82.84, for a total value of $347,679.48. Following the completion of the transaction, the insider now directly owns 164,827 shares in the company, valued at $13,654,268.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Carvana news, major shareholder Ernest C. Garcia II sold 50,000 shares of Carvana stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $80.13, for a total value of $4,006,500.00. Following the completion of the transaction, the insider now directly owns 3,312,500 shares of the company’s stock, valued at approximately $265,430,625. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas Taira sold 4,197 shares of Carvana stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $82.84, for a total value of $347,679.48. Following the completion of the transaction, the insider now directly owns 164,827 shares of the company’s stock, valued at $13,654,268.68. The disclosure for this sale can be found here. Insiders have sold a total of 187,883 shares of company stock valued at $15,505,178 over the last 90 days. 17.12% of the stock is owned by company insiders.

Hedge Funds Weigh In On Carvana

A number of institutional investors have recently modified their holdings of the business. Blue Trust Inc. acquired a new position in Carvana in the 4th quarter worth about $29,000. Vanguard Group Inc. boosted its position in shares of Carvana by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock valued at $393,268,000 after purchasing an additional 62,820 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Carvana during the 3rd quarter valued at about $2,879,000. Charles Schwab Investment Management Inc. boosted its position in shares of Carvana by 56.4% during the 3rd 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 in the last quarter. Finally, TD Asset Management Inc acquired a new position in Carvana during the 3rd quarter worth approximately $22,906,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.