Carvana (NYSE:CVNA) Given New $320.00 Price Target at Citigroup

Carvana (NYSE:CVNA) had its price target increased by equities researchers at Citigroup from $277.00 to $320.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 39.76% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. DA Davidson lifted their price target on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a research note on Thursday. Evercore ISI lifted their target price on shares of Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a research note on Tuesday, December 3rd. Wedbush reaffirmed a “neutral” rating and set a $250.00 target price on shares of Carvana in a research note on Thursday, February 6th. Piper Sandler lifted their target price on shares of Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Morgan Stanley raised shares of Carvana from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $110.00 to $260.00 in a research note on Tuesday, November 5th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $265.06.

Carvana Stock Performance

Shares of NYSE:CVNA traded down $18.76 during trading on Friday, hitting $228.97. 4,047,536 shares of the stock traded hands, compared to its average volume of 3,993,979. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The company has a market cap of $47.54 billion, a price-to-earnings ratio of 145.84 and a beta of 3.37. The company has a fifty day moving average price of $234.85 and a two-hundred day moving average price of $207.18. Carvana has a 52-week low of $49.38 and a 52-week high of $292.84.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 446.67%. As a group, equities analysts predict that Carvana will post 2.85 EPS for the current year.

Insider Transactions at Carvana

In other Carvana news, insider Daniel J. Gill sold 44,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the completion of the transaction, the insider now owns 191,225 shares in the company, valued at approximately $49,617,150.75. The trade was a 18.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now owns 189,097 shares of the company’s stock, valued at $37,961,222.75. This trade represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 173,629 shares of company stock worth $44,833,799. 17.12% of the stock is currently owned by corporate insiders.

Institutional Trading of Carvana

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Fidelis Capital Partners LLC boosted its stake in Carvana by 3.4% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock worth $313,000 after purchasing an additional 51 shares during the period. Bleakley Financial Group LLC raised its holdings in Carvana by 2.8% during the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock valued at $483,000 after buying an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Carvana by 21.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock valued at $87,000 after buying an additional 74 shares in the last quarter. Forum Financial Management LP raised its holdings in Carvana by 3.8% during the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock valued at $361,000 after buying an additional 76 shares in the last quarter. Finally, Great Lakes Advisors LLC raised its holdings in Carvana by 2.1% during the fourth quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock valued at $752,000 after buying an additional 77 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

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.