Carvana (NYSE:CVNA) Price Target Raised to $320.00 at Royal Bank of Canada

Carvana (NYSE:CVNA) had its price objective lifted by Royal Bank of Canada from $280.00 to $320.00 in a research report report published on Thursday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

CVNA has been the subject of a number of other research reports. Piper Sandler lifted their target price on shares of Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Morgan Stanley raised Carvana from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $110.00 to $260.00 in a research report on Tuesday, November 5th. JMP Securities restated a “market outperform” rating and issued a $320.00 target price on shares of Carvana in a research note on Monday, December 16th. Evercore ISI raised their price target on Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a research note on Tuesday, December 3rd. Finally, Robert W. Baird boosted their price target on Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Carvana presently has a consensus rating of “Moderate Buy” and a consensus target price of $259.00.

Carvana Stock Down 12.0 %

Shares of Carvana stock opened at $248.03 on Thursday. Carvana has a 1 year low of $48.15 and a 1 year high of $292.84. The company has a market cap of $51.50 billion, a P/E ratio of 24,827.83 and a beta of 3.37. 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 50-day moving average price of $234.85 and a 200 day moving average price of $207.18.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. As a group, analysts expect that Carvana will post 0.87 EPS for the current fiscal year.

Insider Activity at Carvana

In related news, insider Paul W. Breaux sold 1,362 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the transaction, the insider now owns 153,240 shares of the company’s stock, valued at approximately $41,387,059.20. The trade was a 0.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark W. Jenkins sold 28,422 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total value of $8,209,694.70. Following the completion of the sale, the chief financial officer now directly owns 219,962 shares in the company, valued at $63,536,023.70. This trade represents a 11.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 173,629 shares of company stock worth $44,833,799. 17.12% of the stock is owned by insiders.

Institutional Investors Weigh In On Carvana

Several hedge funds have recently modified their holdings of CVNA. Quent Capital LLC bought a new position in Carvana during the fourth quarter worth $28,000. Global Retirement Partners LLC grew its position in Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after purchasing an additional 78 shares during the last quarter. Rialto Wealth Management LLC bought a new position in shares of Carvana during the 4th quarter worth about $31,000. ORG Wealth Partners LLC acquired a new position in shares of Carvana during the fourth quarter valued at about $34,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Carvana in the third quarter valued at about $40,000. 56.71% of the stock is owned by 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.