Carvana (NYSE:CVNA) had its target price upped by JPMorgan Chase & Co. from $75.00 to $115.00 in a research note issued to investors on Friday, The Fly reports. The brokerage currently has a neutral rating on the stock. The analysts noted that the move was a valuation call.
CVNA has been the topic of several other research reports. Oppenheimer upped their price target on Carvana from $95.00 to $127.00 and gave the stock an outperform rating in a report on Monday, May 11th. Bank of America restated a buy rating and set a $100.00 price target (up previously from $92.00) on shares of Carvana in a report on Thursday, May 7th. B. Riley cut their price target on Carvana from $125.00 to $105.00 and set a buy rating on the stock in a report on Tuesday, May 5th. ValuEngine downgraded Carvana from a buy rating to a hold rating in a report on Thursday, July 2nd. Finally, Cfra downgraded Carvana from a sell rating to a strong sell rating in a report on Friday, March 20th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company’s stock. Carvana has an average rating of Hold and an average target price of $102.43.
CVNA opened at $137.46 on Friday. The stock’s 50-day moving average price is $114.00 and its 200 day moving average price is $88.07. Carvana has a 12-month low of $22.16 and a 12-month high of $143.13. The company has a current ratio of 1.24, a quick ratio of 0.49 and a debt-to-equity ratio of 82.86. The firm has a market cap of $23.42 billion, a price-to-earnings ratio of -40.79 and a beta of 2.39.
Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, May 6th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by ($0.55). Carvana had a negative return on equity of 127.13% and a negative net margin of 3.89%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the company posted ($0.53) EPS. Carvana’s revenue was up 45.4% on a year-over-year basis. On average, research analysts forecast that Carvana will post -3.44 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the stock. Engrave Wealth Partners LLC purchased a new position in Carvana during the 4th quarter worth approximately $35,000. Lenox Wealth Management Inc. purchased a new position in Carvana during the 1st quarter worth approximately $51,000. Stephenson National Bank & Trust purchased a new position in Carvana during the 4th quarter worth approximately $140,000. Trustcore Financial Services LLC purchased a new position in Carvana during the 1st quarter worth approximately $163,000. Finally, Piedmont Investment Advisors Inc. lifted its position in Carvana by 15.2% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 3,900 shares of the company’s stock worth $215,000 after acquiring an additional 514 shares during the period. Hedge funds and other institutional investors own 52.20% of the company’s stock.
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 proprietary 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.
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