Carvana’s (CVNA) Outperform Rating Reaffirmed at William Blair

William Blair reaffirmed their outperform rating on shares of Carvana (NYSE:CVNA) in a research report sent to investors on Thursday morning, RTT News reports.

Several other equities research analysts have also commented on CVNA. Needham & Company LLC reiterated a hold rating on shares of Carvana in a research note on Thursday. Evercore ISI reduced their price objective on Carvana from $78.00 to $77.00 and set an in-line rating for the company in a research note on Tuesday, April 16th. Jefferies Financial Group raised shares of Carvana from an underperform rating to a hold rating and lifted their target price for the stock from $30.00 to $85.00 in a research note on Tuesday, March 12th. Wells Fargo & Company raised their price target on shares of Carvana from $60.00 to $77.00 and gave the stock an equal weight rating in a research note on Thursday. Finally, TD Cowen upped their price objective on shares of Carvana from $58.00 to $70.00 and gave the company a hold rating in a research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $73.44.

Carvana Price Performance

CVNA stock traded up $5.17 during mid-day trading on Thursday, reaching $121.67. 8,528,363 shares of the company’s stock were exchanged, compared to its average volume of 5,397,261. Carvana has a 12-month low of $6.92 and a 12-month high of $124.20. The stock’s 50 day moving average is $81.81 and its 200 day moving average is $55.88. The company has a market cap of $24.57 billion, a price-to-earnings ratio of 53.36 and a beta of 3.28.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.56 billion. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.97) earnings per share. On average, research analysts forecast that Carvana will post -3.32 earnings per share for the current fiscal year.

Insider Activity at Carvana

In other news, CEO Ernest C. Garcia III sold 9,390 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $82.83, for a total transaction of $777,773.70. Following the sale, the chief executive officer now owns 861,458 shares of the company’s stock, valued at $71,354,566.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Ernest C. Garcia III sold 9,390 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $82.83, for a total transaction of $777,773.70. Following the completion of the transaction, the chief executive officer now directly owns 861,458 shares of the company’s stock, valued at $71,354,566.14. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Mark W. Jenkins sold 55,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $86.76, for a total transaction of $4,771,800.00. Following the completion of the sale, the chief financial officer now directly owns 178,156 shares in the company, valued at approximately $15,456,814.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 442,233 shares of company stock worth $38,200,169. Corporate insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Several large investors have recently bought and sold shares of the business. GSA Capital Partners LLP purchased a new position in Carvana in the first quarter valued at approximately $969,000. FORA Capital LLC grew its position in shares of Carvana by 109.4% in the 1st quarter. FORA Capital LLC now owns 84,969 shares of the company’s stock valued at $7,470,000 after buying an additional 44,392 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in Carvana by 11.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,687 shares of the company’s stock worth $412,000 after acquiring an additional 500 shares in the last quarter. HB Wealth Management LLC acquired a new position in Carvana in the first quarter valued at $244,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Carvana by 9.2% during the first quarter. Principal Financial Group Inc. now owns 12,702 shares of the company’s stock worth $1,117,000 after purchasing an additional 1,068 shares during the last quarter. 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.