Carvana (NYSE:CVNA) Price Target Lowered to $325.00 at JPMorgan Chase & Co.

Carvana (NYSE:CVNA) had its price target decreased by analysts at JPMorgan Chase & Co. from $365.00 to $325.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 58.89% from the stock’s previous close.

A number of other research analysts also recently weighed in on the stock. Piper Sandler upgraded shares of Carvana from a “neutral” rating to an “overweight” rating and set a $225.00 price objective for the company in a research report on Thursday, March 20th. Stephens reissued an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a report on Monday, March 3rd. JMP Securities restated a “market outperform” rating and issued a $320.00 price objective on shares of Carvana in a research report on Monday, December 16th. Morgan Stanley upgraded Carvana from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $260.00 to $280.00 in a research report on Tuesday. Finally, Evercore ISI cut their price target on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a report on Tuesday, March 11th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Carvana presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.53.

Carvana Stock Performance

Carvana stock traded down $0.32 during midday trading on Thursday, hitting $204.55. 2,332,888 shares of the company were exchanged, compared to its average volume of 4,551,331. The business has a fifty day simple moving average of $228.32 and a two-hundred day simple moving average of $216.50. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The firm has a market capitalization of $43.60 billion, a PE ratio of 130.11 and a beta of 3.56. Carvana has a fifty-two week low of $67.61 and a fifty-two week high of $292.84.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.32 billion. On average, sell-side analysts forecast that Carvana will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Thomas Taira sold 27,593 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total transaction of $6,209,252.79. Following the completion of the transaction, the insider now directly owns 179,673 shares in the company, valued at approximately $40,431,815.19. This represents a 13.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total value 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 $37,961,222.75. The trade was a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,377 shares of company stock valued at $44,251,096 in the last three months. 17.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CVNA. Quent Capital LLC acquired a new position in shares of Carvana in the 4th quarter worth approximately $28,000. Global Retirement Partners LLC raised its position in Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after purchasing an additional 78 shares during the period. Rialto Wealth Management LLC acquired a new position in Carvana during the fourth quarter worth $31,000. ORG Wealth Partners LLC purchased a new position in shares of Carvana during the fourth quarter worth $34,000. Finally, Versant Capital Management Inc acquired a new stake in shares of Carvana in the fourth quarter valued at $42,000. 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.