Piper Sandler Raises Carvana (NYSE:CVNA) Price Target to $225.00

Carvana (NYSE:CVNA) had its target price boosted by investment analysts at Piper Sandler from $151.00 to $225.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target points to a potential downside of 1.75% from the stock’s current price.

A number of other analysts also recently commented on CVNA. JMP Securities reiterated a “market outperform” rating and set a $200.00 target price on shares of Carvana in a research report on Monday, September 9th. Evercore ISI boosted their price objective on shares of Carvana from $186.00 to $190.00 and gave the stock an “in-line” rating in a research report on Wednesday. Needham & Company LLC increased their price objective on shares of Carvana from $200.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday. Jefferies Financial Group lifted their target price on shares of Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, DA Davidson increased their price target on shares of Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Carvana has a consensus rating of “Hold” and a consensus target price of $208.88.

Carvana Stock Down 7.4 %

Shares of NYSE CVNA opened at $229.01 on Thursday. The stock has a market capitalization of $47.39 billion, a price-to-earnings ratio of 22,901.00 and a beta of 3.44. Carvana has a 52 week low of $27.75 and a 52 week high of $259.39. The firm has a 50-day moving average price of $174.33 and a 200 day moving average price of $137.76. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The company had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.47 billion. The company’s quarterly revenue was up 31.8% on a year-over-year basis. During the same period last year, the business posted $0.23 earnings per share. Equities research analysts anticipate that Carvana will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling at Carvana

In related news, insider Paul W. Breaux sold 14,548 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $198.00, for a total value of $2,880,504.00. Following the sale, the insider now directly owns 119,494 shares of the company’s stock, valued at approximately $23,659,812. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Carvana news, insider Paul W. Breaux sold 14,548 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $198.00, for a total transaction of $2,880,504.00. Following the completion of the sale, the insider now directly owns 119,494 shares in the company, valued at $23,659,812. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ira J. Platt sold 12,178 shares of Carvana stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $130.33, for a total value of $1,587,158.74. Following the completion of the transaction, the director now directly owns 43,229 shares in the company, valued at $5,634,035.57. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,738,934 shares of company stock worth $463,538,905 in the last 90 days. 17.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carvana

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Carvana by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock worth $904,642,000 after purchasing an additional 266,972 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Carvana by 39.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after buying an additional 2,112,463 shares during the period. Lingotto Investment Management LLP boosted its position in shares of Carvana by 1.4% in the second quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock worth $486,143,000 after buying an additional 52,833 shares during the period. Renaissance Technologies LLC grew its stake in shares of Carvana by 12.2% in the second quarter. Renaissance Technologies LLC now owns 813,400 shares of the company’s stock valued at $104,701,000 after buying an additional 88,500 shares in the last quarter. Finally, Driehaus Capital Management LLC raised its holdings in shares of Carvana by 124.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after buying an additional 323,153 shares during the period. Institutional investors and hedge funds 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.