Wells Fargo & Company Issues Pessimistic Forecast for Carvana (NYSE:CVNA) Stock Price

Carvana (NYSE:CVNA) had its price target reduced by equities researchers at Wells Fargo & Company from $300.00 to $275.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 38.42% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. Jefferies Financial Group increased their price objective on shares of Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Robert W. Baird increased their price target on Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Wedbush boosted their price target on Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Stephens reissued an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a report on Thursday, January 2nd. Finally, Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $110.00 to $260.00 in a report on Tuesday, November 5th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $237.12.

Carvana Stock Up 5.2 %

NYSE:CVNA opened at $198.67 on Monday. The company has a market cap of $41.25 billion, a PE ratio of 19,886.89 and a beta of 3.38. The stock has a 50-day simple moving average of $236.14 and a 200 day simple moving average of $182.59. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. Carvana has a 52-week low of $40.21 and a 52-week high of $268.34.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. Carvana’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same quarter last year, the business earned $0.23 earnings per share. On average, sell-side analysts expect that Carvana will post 0.76 EPS for the current fiscal year.

Insider Activity

In other Carvana news, insider Ryan S. Keeton sold 24,845 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the completion of the transaction, the insider now directly owns 151,029 shares in the company, valued at $37,440,089.10. The trade was a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark W. Jenkins sold 208,495 shares of Carvana stock in a transaction on Monday, November 4th. The shares were sold at an average price of $224.43, for a total value of $46,792,532.85. Following the completion of the transaction, the chief financial officer now owns 90,732 shares in the company, valued at approximately $20,362,982.76. The trade was a 69.68 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,051,908 shares of company stock worth $218,824,285. Corporate insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVNA. Sugarloaf Wealth Management LLC bought a new stake in Carvana during the 3rd quarter worth $32,000. Capital Performance Advisors LLP acquired a new stake in shares of Carvana during the third quarter valued at about $40,000. Versant Capital Management Inc bought a new stake in shares of Carvana during the fourth quarter worth about $42,000. First Horizon Advisors Inc. raised its holdings in Carvana by 363.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock valued at $44,000 after buying an additional 196 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in Carvana during the 2nd quarter worth approximately $51,000. 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.