Carvana (NYSE:CVNA) Earns Buy Rating from Analysts at BTIG Research

BTIG Research started coverage on shares of Carvana (NYSE:CVNA) in a research note published on Friday, MarketBeat.com reports. The firm issued a buy rating and a $155.00 price target on the stock.

Several other analysts have also recently issued reports on CVNA. Robert W. Baird upped their price target on shares of Carvana from $65.00 to $110.00 and gave the company a neutral rating in a report on Thursday, May 2nd. TD Cowen upped their price target on shares of Carvana from $58.00 to $70.00 and gave the company a hold rating in a report on Monday, April 29th. JMP Securities reaffirmed a market outperform rating and issued a $150.00 price target on shares of Carvana in a report on Wednesday, July 10th. Wells Fargo & Company upped their price target on shares of Carvana from $60.00 to $77.00 and gave the company an equal weight rating in a report on Thursday, May 2nd. Finally, Wedbush reaffirmed a neutral rating and issued a $120.00 price target on shares of Carvana in a report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $97.13.

Carvana Trading Up 4.9 %

Shares of CVNA stock opened at $136.24 on Friday. The company has a market capitalization of $27.60 billion, a PE ratio of 59.75 and a beta of 3.37. The firm has a fifty day simple moving average of $115.83 and a 200-day simple moving average of $83.85. Carvana has a twelve month low of $25.09 and a twelve month high of $140.91.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.35. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $2.72 billion. Equities research analysts predict that Carvana will post -0.75 EPS for the current year.

Insider Activity

In other news, VP Stephen R. Palmer sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $85.71, for a total transaction of $428,550.00. Following the completion of the transaction, the vice president now owns 56,872 shares in the company, valued at approximately $4,874,499.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Carvana news, VP Stephen R. Palmer sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $85.71, for a total value of $428,550.00. Following the completion of the transaction, the vice president now directly owns 56,872 shares in the company, valued at $4,874,499.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ryan S. Keeton sold 8,250 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $115.55, for a total transaction of $953,287.50. Following the completion of the transaction, the insider now owns 187,256 shares of the company’s stock, valued at $21,637,430.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,173,946 shares of company stock worth $246,635,306. Corporate insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Carvana by 2.7% in the first quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock worth $904,642,000 after purchasing an additional 266,972 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Carvana by 39.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after purchasing an additional 2,112,463 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Carvana by 17.1% in the fourth quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock worth $78,560,000 after purchasing an additional 216,893 shares in the last quarter. Goodnow Investment Group LLC lifted its position in shares of Carvana by 1.6% in the fourth quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock worth $77,532,000 after purchasing an additional 23,140 shares in the last quarter. Finally, Steadview Capital Management LLC lifted its position in shares of Carvana by 15.6% in the fourth quarter. Steadview Capital Management LLC now owns 876,905 shares of the company’s stock worth $46,423,000 after purchasing an additional 118,500 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

About Carvana

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.