Oppenheimer started coverage on shares of Carvana (NYSE:CVNA) in a research note released on Thursday morning, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $95.00 target price on the stock.

Other equities analysts also recently issued research reports about the stock. Bank of America reissued a buy rating and set a $86.00 target price (up previously from $82.00) on shares of Carvana in a research note on Thursday, August 8th. Wells Fargo & Co reissued a buy rating and set a $85.00 target price on shares of Carvana in a research note on Monday, July 1st. ValuEngine downgraded shares of Carvana from a buy rating to a hold rating in a research note on Thursday, August 1st. Barrington Research reissued a hold rating on shares of Carvana in a research note on Monday, August 5th. Finally, JMP Securities lifted their target price on shares of Carvana from $64.00 to $80.00 and gave the stock an outperform rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $77.69.

Shares of NYSE CVNA opened at $75.51 on Thursday. Carvana has a twelve month low of $28.44 and a twelve month high of $85.07. The firm has a fifty day simple moving average of $77.25 and a 200 day simple moving average of $65.98. The company has a debt-to-equity ratio of 2.10, a current ratio of 3.83 and a quick ratio of 1.40.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, August 7th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.01). Carvana had a negative return on equity of 30.55% and a negative net margin of 3.49%. The firm had revenue of $986.22 million for the quarter, compared to the consensus estimate of $914.50 million. During the same period in the prior year, the business earned ($0.37) EPS. Carvana’s quarterly revenue was up 107.5% on a year-over-year basis. As a group, research analysts anticipate that Carvana will post -1.81 EPS for the current fiscal year.

In other Carvana news, insider Ryan S. Keeton sold 28,930 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $71.18, for a total value of $2,059,237.40. Following the completion of the sale, the insider now directly owns 45,547 shares in the company, valued at $3,242,035.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ira J. Platt sold 10,700 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $84.51, for a total transaction of $904,257.00. Following the completion of the sale, the director now owns 33,082 shares of the company’s stock, valued at $2,795,759.82. The disclosure for this sale can be found here. Insiders sold 189,861 shares of company stock valued at $14,527,351 over the last 90 days. Corporate insiders own 13.02% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. FNY Investment Advisers LLC grew its holdings in shares of Carvana by 12,800.0% during the second quarter. FNY Investment Advisers LLC now owns 1,290 shares of the company’s stock valued at $80,000 after buying an additional 1,280 shares during the last quarter. Meridian Wealth Management LLC acquired a new position in shares of Carvana during the second quarter valued at about $118,000. Advisor Group Inc. grew its holdings in shares of Carvana by 993.4% during the first quarter. Advisor Group Inc. now owns 17,342 shares of the company’s stock valued at $1,006,000 after buying an additional 15,756 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Carvana by 1.4% during the first quarter. First Trust Advisors LP now owns 201,433 shares of the company’s stock valued at $11,695,000 after buying an additional 2,815 shares during the last quarter. Finally, CX Institutional acquired a new position in shares of Carvana during the second quarter valued at about $221,000. Hedge funds and other institutional investors own 37.05% 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 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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Analyst Recommendations for Carvana (NYSE:CVNA)

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