Carvana (NYSE:CVNA) Given New $350.00 Price Target at JPMorgan Chase & Co.

Carvana (NYSE:CVNA) had its price target boosted by JPMorgan Chase & Co. from $300.00 to $350.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company decreased their price objective on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Stephens reaffirmed an “overweight” rating and set a $300.00 target price on shares of Carvana in a research note on Thursday, January 2nd. Evercore ISI upped their target price on Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. JMP Securities reissued a “market outperform” rating and issued a $320.00 price objective on shares of Carvana in a research note on Monday, December 16th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $330.00 price objective on shares of Carvana in a research note on Tuesday, January 7th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $244.88.

Carvana Price Performance

NYSE:CVNA opened at $247.76 on Friday. 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 company has a market capitalization of $51.44 billion, a P/E ratio of 24,800.30 and a beta of 3.38. Carvana has a 12 month low of $40.21 and a 12 month high of $268.34. The business’s 50-day moving average is $230.58 and its 200 day moving average is $193.93.

Carvana (NYSE:CVNA) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter last year, the company earned $0.23 earnings per share. The company’s revenue for the quarter was up 31.8% on a year-over-year basis. On average, equities research analysts forecast that Carvana will post 0.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the sale, the chief financial officer now directly owns 189,097 shares of the company’s stock, valued at approximately $37,961,222.75. This trade represents a 5.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan S. Keeton sold 24,845 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $247.90, for a total value of $6,159,075.50. Following the sale, the insider now owns 151,029 shares in the company, valued at $37,440,089.10. This trade represents a 14.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 347,340 shares of company stock worth $81,044,588 in the last 90 days. Insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

Several institutional investors have recently bought and sold shares of CVNA. Envestnet Asset Management Inc. boosted its holdings in Carvana by 155.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 23,278 shares of the company’s stock worth $2,996,000 after buying an additional 14,174 shares during the last quarter. Sei Investments Co. lifted its stake in Carvana by 158.3% in the 2nd quarter. Sei Investments Co. now owns 11,165 shares of the company’s stock worth $1,437,000 after purchasing an additional 6,843 shares in the last quarter. Creative Planning lifted its stake in Carvana by 34.4% in the 2nd quarter. Creative Planning now owns 15,296 shares of the company’s stock worth $1,969,000 after purchasing an additional 3,913 shares in the last quarter. SG Americas Securities LLC lifted its stake in Carvana by 804.0% in the 3rd quarter. SG Americas Securities LLC now owns 9,989 shares of the company’s stock worth $1,739,000 after purchasing an additional 8,884 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Carvana by 16.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 27,400 shares of the company’s stock worth $4,771,000 after purchasing an additional 3,900 shares in the last quarter. 56.71% of the stock is currently 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 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.