Carvana (NYSE:CVNA) PT Lowered to $77.00 at Evercore ISI

Carvana (NYSE:CVNA) had its price objective reduced by Evercore ISI from $78.00 to $77.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an in-line rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Wedbush boosted their price objective on shares of Carvana from $40.00 to $50.00 and gave the company a neutral rating in a report on Tuesday, February 20th. Raymond James raised shares of Carvana from an underperform rating to a market perform rating in a report on Friday, February 23rd. Morgan Stanley boosted their price objective on shares of Carvana from $32.00 to $45.00 and gave the company an underweight rating in a report on Monday, February 26th. Jefferies Financial Group raised shares of Carvana from an underperform rating to a hold rating and boosted their price objective for the company from $30.00 to $85.00 in a report on Tuesday, March 12th. Finally, William Blair raised shares of Carvana from a market perform rating to an outperform rating in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $53.87.

Carvana Trading Up 0.3 %

NYSE CVNA opened at $71.39 on Tuesday. The firm’s fifty day simple moving average is $75.21 and its two-hundred day simple moving average is $52.34. Carvana has a 12-month low of $6.70 and a 12-month high of $94.04. The firm has a market capitalization of $14.41 billion, a P/E ratio of 132.21 and a beta of 3.32.

Carvana (NYSE:CVNA) last released 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 business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the company earned ($0.97) earnings per share. The company’s revenue was down 14.6% on a year-over-year basis. As a group, sell-side analysts predict that Carvana will post -3.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, CEO Ernest C. Garcia III sold 9,390 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $82.83, for a total value of $777,773.70. Following the completion of the transaction, the chief executive officer now owns 861,458 shares in the company, valued at $71,354,566.14. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Mark W. Jenkins sold 55,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $86.76, for a total transaction of $4,771,800.00. Following the completion of the transaction, the chief financial officer now owns 178,156 shares in the company, valued at approximately $15,456,814.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Ernest C. Garcia III sold 9,390 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $82.83, for a total transaction of $777,773.70. Following the transaction, the chief executive officer now owns 861,458 shares of the company’s stock, valued at approximately $71,354,566.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 187,883 shares of company stock worth $15,505,178. Company insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Several large investors have recently bought and sold shares of the business. Diversified Trust Co grew its stake in Carvana by 53.3% during the 1st quarter. Diversified Trust Co now owns 8,678 shares of the company’s stock valued at $763,000 after acquiring an additional 3,019 shares in the last quarter. Quadrature Capital Ltd grew its stake in Carvana by 128.1% during the 4th quarter. Quadrature Capital Ltd now owns 118,196 shares of the company’s stock valued at $6,269,000 after acquiring an additional 66,386 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Carvana by 63.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,481 shares of the company’s stock valued at $131,000 after acquiring an additional 965 shares in the last quarter. Vanguard Group Inc. grew its stake in Carvana by 7.0% during the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after acquiring an additional 655,603 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Carvana during the 4th quarter valued at about $4,703,000. Hedge funds and other institutional investors 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.