Carvana (NYSE:CVNA) Stock Rating Reaffirmed by Citigroup

Carvana (NYSE:CVNA)‘s stock had its “buy” rating restated by investment analysts at Citigroup in a research note issued on Thursday, The Fly reports. They currently have a $95.00 price objective on the stock, up from their prior price objective of $90.00. Citigroup‘s price target suggests a potential upside of 21.86% from the company’s current price.

CVNA has been the topic of several other research reports. Wells Fargo & Co reissued a “buy” rating and set a $95.00 price target on shares of Carvana in a research report on Tuesday, October 29th. JMP Securities increased their price target on shares of Carvana from $64.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Needham & Company LLC started coverage on shares of Carvana in a research report on Thursday, September 12th. They set a “buy” rating and a $105.00 price target on the stock. JPMorgan Chase & Co. started coverage on shares of Carvana in a research report on Thursday, September 26th. They set a “neutral” rating and a $75.00 price target on the stock. Finally, BMO Capital Markets increased their price target on shares of Carvana from $65.00 to $68.00 and gave the stock a “market perform” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. Carvana presently has an average rating of “Hold” and a consensus price target of $79.40.

CVNA stock traded up $4.84 during mid-day trading on Thursday, hitting $77.96. 1,733,233 shares of the company were exchanged, compared to its average volume of 1,693,685. The company has a quick ratio of 1.40, a current ratio of 3.83 and a debt-to-equity ratio of 2.10. The firm has a market capitalization of $11.00 billion, a P/E ratio of -45.06 and a beta of 2.20. The business has a fifty day simple moving average of $74.12 and a 200-day simple moving average of $70.02. Carvana has a 12-month low of $28.44 and a 12-month high of $85.97.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, November 6th. The company reported ($0.56) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.17). The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $997.46 million. Carvana had a negative return on equity of 30.55% and a negative net margin of 3.49%. The company’s quarterly revenue was up 104.7% compared to the same quarter last year. During the same period last year, the business earned ($0.40) EPS. Research analysts predict that Carvana will post -1.82 EPS for the current year.

In related news, CFO Mark W. Jenkins sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $80.06, for a total value of $3,202,400.00. Following the sale, the chief financial officer now owns 52,049 shares of the company’s stock, valued at $4,167,042.94. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ira J. Platt sold 14,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $79.58, for a total transaction of $1,114,120.00. Following the completion of the sale, the director now directly owns 32,863 shares in the company, valued at approximately $2,615,237.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,000 shares of company stock worth $8,004,447. 13.02% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. FNY Investment Advisers LLC raised its holdings in Carvana by 12,800.0% during the second quarter. FNY Investment Advisers LLC now owns 1,290 shares of the company’s stock worth $80,000 after purchasing an additional 1,280 shares in the last quarter. Meridian Wealth Management LLC acquired a new stake in Carvana during the second quarter worth approximately $118,000. CX Institutional acquired a new stake in Carvana during the second quarter worth approximately $221,000. D.A. Davidson & CO. raised its holdings in Carvana by 2.6% during the second quarter. D.A. Davidson & CO. now owns 5,700 shares of the company’s stock worth $357,000 after purchasing an additional 145 shares in the last quarter. Finally, Antipodean Advisors LLC raised its holdings in Carvana by 23.1% during the second quarter. Antipodean Advisors LLC now owns 335,000 shares of the company’s stock worth $20,968,000 after purchasing an additional 62,800 shares in the last quarter. 37.06% of the stock is currently owned by hedge funds and other institutional investors.

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 proprietary 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.

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Analyst Recommendations for Carvana (NYSE:CVNA)

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