Evercore ISI Forecasts Strong Price Appreciation for Carvana (NYSE:CVNA) Stock

Carvana (NYSE:CVNA) had its price target hoisted by Evercore ISI from $186.00 to $190.00 in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has an in-line rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Stephens initiated coverage on shares of Carvana in a report on Thursday, September 12th. They set an “overweight” rating and a $190.00 price objective for the company. BTIG Research lifted their price target on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 1st. DA Davidson increased their price objective on shares of Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. raised their price objective on Carvana from $185.00 to $230.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group boosted their target price on Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $208.88.

Carvana Price Performance

Shares of NYSE:CVNA opened at $229.01 on Wednesday. The company has a market capitalization of $47.39 billion, a P/E ratio of 22,901.00 and a beta of 3.44. Carvana has a 1-year low of $27.75 and a 1-year high of $259.39. The firm’s 50 day simple moving average is $174.33 and its two-hundred day simple moving average is $137.76. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period last year, the company earned $0.23 EPS. The business’s revenue was up 31.8% on a year-over-year basis. Research analysts expect that Carvana will post 0.26 EPS for the current fiscal year.

Insider Transactions at Carvana

In related news, COO Benjamin E. Huston sold 3,043 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $240.00, for a total value of $730,320.00. Following the sale, the chief operating officer now directly owns 218,686 shares of the company’s stock, valued at $52,484,640. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Benjamin E. Huston sold 3,043 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $240.00, for a total transaction of $730,320.00. Following the completion of the sale, the chief operating officer now directly owns 218,686 shares of the company’s stock, valued at approximately $52,484,640. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel J. Gill sold 30,000 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the completion of the sale, the insider now directly owns 328,329 shares of the company’s stock, valued at approximately $57,457,575. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,738,934 shares of company stock worth $463,538,905. 17.12% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Carvana

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Forum Financial Management LP raised its holdings in shares of Carvana by 3.8% in the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock valued at $361,000 after acquiring an additional 76 shares in the last quarter. Empirical Asset Management LLC increased its position in Carvana by 2.0% during the 3rd quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock valued at $890,000 after purchasing an additional 100 shares during the period. Bleakley Financial Group LLC raised its holdings in shares of Carvana by 6.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock valued at $402,000 after purchasing an additional 130 shares in the last quarter. CWM LLC lifted its position in shares of Carvana by 19.5% in the 2nd quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after purchasing an additional 144 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Carvana by 32.8% during the third quarter. GAMMA Investing LLC now owns 608 shares of the company’s stock valued at $106,000 after purchasing an additional 150 shares in the last quarter. 56.71% of the stock is owned by 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 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.