Carvana (NYSE:CVNA) Given New $320.00 Price Target at Citigroup

Carvana (NYSE:CVNA) had its price target increased by Citigroup from $277.00 to $320.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 39.76% from the company’s previous close.

Several other research firms have also issued reports on CVNA. William Blair restated an “outperform” rating on shares of Carvana in a report on Thursday. Royal Bank of Canada boosted their target price on shares of Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday. Piper Sandler boosted their target price on shares of Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Needham & Company LLC boosted their target price on shares of Carvana from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Wells Fargo & Company reduced their price objective on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and a consensus target price of $265.06.

Carvana Stock Performance

Shares of CVNA traded down $18.76 during mid-day trading on Friday, hitting $228.97. 4,047,536 shares of the company’s stock were exchanged, compared to its average volume of 3,993,979. Carvana has a 52 week low of $49.38 and a 52 week high of $292.84. The stock’s 50-day simple moving average is $234.85 and its 200-day simple moving average is $207.18. The firm has a market cap of $47.54 billion, a price-to-earnings ratio of 145.84 and a beta of 3.37. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 446.67%. On average, equities research analysts expect that Carvana will post 2.85 EPS for the current year.

Insider Buying and Selling at Carvana

In related news, insider Daniel J. Gill sold 44,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $259.47, for a total value of $11,416,680.00. Following the sale, the insider now owns 191,225 shares in the company, valued at approximately $49,617,150.75. The trade was a 18.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $255.07, for a total transaction of $2,550,700.00. Following the completion of the sale, the chief financial officer now owns 189,761 shares in the company, valued at $48,402,338.27. This represents a 5.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 173,629 shares of company stock valued at $44,833,799 over the last 90 days. 17.12% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Quent Capital LLC purchased a new stake in shares of Carvana during the fourth quarter valued at about $28,000. Global Retirement Partners LLC increased its holdings in shares of Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after acquiring an additional 78 shares in the last quarter. Rialto Wealth Management LLC acquired a new position in shares of Carvana during the fourth quarter valued at 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, Versant Capital Management Inc acquired a new position in shares of Carvana during the fourth quarter valued at about $42,000. 56.71% of the stock is currently 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.