Carvana (NYSE:CVNA) Price Target Increased to $110.00 by Analysts at Morgan Stanley

Carvana (NYSE:CVNA) had its target price upped by Morgan Stanley from $75.00 to $110.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an underweight rating on the stock.

Several other research analysts have also recently commented on the company. JMP Securities reissued a market outperform rating and set a $150.00 target price on shares of Carvana in a research note on Wednesday, July 10th. Robert W. Baird began coverage on Carvana in a report on Thursday. They set a neutral rating and a $160.00 price target for the company. JPMorgan Chase & Co. lifted their price target on Carvana from $150.00 to $155.00 and gave the stock an overweight rating in a report on Friday, July 19th. Evercore ISI lifted their price target on Carvana from $135.00 to $140.00 and gave the stock an in-line rating in a report on Tuesday, July 16th. Finally, Wells Fargo & Company raised Carvana from an equal weight rating to an overweight rating and lifted their price target for the stock from $77.00 to $175.00 in a report on Thursday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $140.27.

Carvana Trading Down 4.3 %

CVNA traded down $6.31 on Thursday, hitting $140.21. 2,730,477 shares of the company were exchanged, compared to its average volume of 5,520,010. Carvana has a twelve month low of $25.09 and a twelve month high of $154.00. The company has a market cap of $28.40 billion, a price-to-earnings ratio of 60.52 and a beta of 3.37. The firm has a 50-day moving average price of $119.99 and a two-hundred day moving average price of $91.51.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, May 1st. The company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.35. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.72 billion. Equities analysts expect that Carvana will post -0.71 EPS for the current year.

Insider Buying and Selling at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $125.43, for a total transaction of $9,407,250.00. Following the completion of the sale, the insider now directly owns 2,917,500 shares of the company’s stock, valued at approximately $365,942,025. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $125.43, for a total transaction of $9,407,250.00. Following the transaction, the insider now owns 2,917,500 shares in the company, valued at approximately $365,942,025. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark W. Jenkins sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $99.25, for a total value of $496,250.00. Following the completion of the sale, the chief financial officer now directly owns 192,552 shares in the company, valued at approximately $19,110,786. The disclosure for this sale can be found here. Insiders sold a total of 2,512,096 shares of company stock valued at $303,420,439 in the last ninety days. Insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CVNA. Price T Rowe Associates Inc. MD lifted its stake in shares of Carvana by 39.5% during the 1st 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 during the period. Vanguard Group Inc. raised its position in shares of Carvana by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after buying an additional 655,603 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Carvana in the 2nd quarter worth $39,997,000. First Trust Advisors LP raised its position in shares of Carvana by 17.1% in the 4th quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock worth $78,560,000 after buying an additional 216,893 shares during the period. Finally, Steadview Capital Management LLC raised its position in shares of Carvana by 15.6% in the 4th quarter. Steadview Capital Management LLC now owns 876,905 shares of the company’s stock worth $46,423,000 after buying an additional 118,500 shares during the period. 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.