Robert W. Baird Boosts Carvana (NYSE:CVNA) Price Target to $110.00

Carvana (NYSE:CVNA) had its target price lifted by Robert W. Baird from $65.00 to $110.00 in a research report sent to investors on Thursday, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. upgraded shares of Carvana from a neutral rating to an overweight rating and boosted their target price for the company from $70.00 to $130.00 in a report on Thursday. JMP Securities reissued a market outperform rating and set a $80.00 price objective on shares of Carvana in a research note on Wednesday, April 17th. Jefferies Financial Group raised Carvana from an underperform rating to a hold rating and increased their target price for the stock from $30.00 to $85.00 in a research report on Tuesday, March 12th. TD Cowen raised 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. Finally, William Blair raised shares of Carvana from a market perform rating to an outperform rating in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Carvana presently has an average rating of Hold and an average target price of $73.44.

Carvana Trading Up 4.4 %

Shares of Carvana stock traded up $5.17 during trading hours 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 52-week low of $6.92 and a 52-week high of $124.20. The company has a fifty day moving average of $81.81 and a 200-day moving average of $56.03. The firm has a market capitalization of $24.57 billion, a price-to-earnings ratio of 53.36 and a beta of 3.28.

Carvana (NYSE:CVNA) last released its earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the previous year, the business earned ($0.97) EPS. The company’s revenue for the quarter was down 14.6% compared to the same quarter last year. On average, equities research analysts anticipate that Carvana will post -3.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Carvana news, insider Ryan S. Keeton sold 8,250 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 187,256 shares in the company, valued at approximately $21,637,430.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Paul W. Breaux sold 15,000 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the transaction, the insider now owns 150,126 shares of the company’s stock, valued at $10,358,694. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan S. Keeton sold 8,250 shares of Carvana stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $115.55, for a total value 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. Over the last 90 days, insiders have sold 442,233 shares of company stock worth $38,200,169. 17.12% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Morgan Stanley raised its position in shares of Carvana by 13.8% during the 3rd quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock valued at $619,478,000 after acquiring an additional 1,784,009 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Carvana by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after purchasing an additional 655,603 shares during the period. TD Asset Management Inc bought a new position in shares of Carvana in the 3rd quarter worth about $22,906,000. UBS Group AG boosted its holdings in shares of Carvana by 132.6% in the 3rd quarter. UBS Group AG now owns 81,620 shares of the company’s stock valued at $3,426,000 after buying an additional 331,892 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Carvana by 56.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock valued at $32,684,000 after buying an additional 280,851 shares during 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.