JMP Securities lifts Carvana Co. [CVNA] price estimate. Who else is bullish?


Carvana Co. [NYSE: CVNA] stock went on an upward path that rose over 5.04% on Friday, amounting to a one-week price decrease of less than -15.30%. The company report on July 7, 2022 that Carvana to Report Second Quarter and Host Quarterly Conference Call on August 4.

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Carvana Co. (NYSE: CVNA), the leading e-commerce platform for buying and selling used cars, today announced it will report its second quarter financial results for the period ended June 30, 2022, following the close of market on Thursday, August 4, 2022. On that day, management will hold a conference call and webcast at 5:30 p.m. ET (2:30 p.m. PT) to review and discuss the company’s business and results.

Over the last 12 months, CVNA stock dropped by -93.17%. The one-year Carvana Co. stock forecast points to a potential upside of 68.07. The average equity rating for CVNA stock is currently 2.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $3.82 billion, with 90.09 million shares outstanding. Compared to the average trading volume of 13.06M shares, CVNA stock reached a trading volume of 10048500 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Carvana Co. [CVNA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CVNA shares is $66.55 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CVNA stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JMP Securities have made an estimate for Carvana Co. shares, keeping their opinion on the stock as Mkt Outperform, with their previous recommendation back on June 30, 2022. While these analysts kept the previous recommendation, Jefferies raised their target price from $150 to $40. The new note on the price target was released on May 13, 2022, representing the official price target for Carvana Co. stock. Previously, the target price had yet another drop from $115 to $40, while Stifel kept a Hold rating on CVNA stock.

The Average True Range (ATR) for Carvana Co. is set at 2.88, with the Price to Sales ratio for CVNA stock in the period of the last 12 months amounting to 0.27. The Price to Book ratio for the last quarter was 23.88, with the Price to Cash per share for the same quarter was set at 3.56.

CVNA Stock Performance Analysis:

Carvana Co. [CVNA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.30. With this latest performance, CVNA shares gained by 1.58% in over the last four-week period, additionally sinking by -88.03% over the last 6 months – not to mention a drop of -93.17% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CVNA stock in for the last two-week period is set at 39.65, with the RSI for the last a single of trading hit 39.83, and the three-weeks RSI is set at 38.16 for Carvana Co. [CVNA]. The present Moving Average for the last 50 days of trading for this stock 29.22, while it was recorded at 21.32 for the last single week of trading, and 153.74 for the last 200 days.

Insight into Carvana Co. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Carvana Co. [CVNA] shares currently have an operating margin of -0.81 and a Gross Margin at +14.25. Carvana Co.’s Net Margin is presently recorded at -1.05.

Return on Equity for this stock declined to -38.93, with Return on Assets sitting at -2.69.

Carvana Co.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 1.40.

Carvana Co. [CVNA] Insider Position Details

There are presently around $2,269 million, in the hands of institutional investors. The top three institutional holders of CVNA stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 13,429,850, which is approximately -0.07% of the company’s market cap and around 4.40% of the total institutional ownership; FMR LLC, holding 10,438,039 shares of the stock with an approximate value of $221.81 million in CVNA stocks shares; and BAILLIE GIFFORD & CO, currently with $201.51 million in CVNA stock with ownership of nearly -1.791% of the company’s market capitalization.

Positions in Carvana Co. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 215 institutional holders increased their position in Carvana Co. [NYSE:CVNA] by around 20,810,860 shares. Additionally, 220 investors decreased positions by around 19,297,784 shares, while 55 investors held positions by with 66,648,299 shares. The mentioned changes placed institutional holdings at 106,756,943 shares, according to the latest SEC report filing. CVNA stock had 67 new institutional investments in for a total of 3,580,684 shares, while 109 institutional investors sold positions of 9,893,272 shares during the same period.