Carvana Co. (NYSE:CVNA) – Analysts at William Blair dropped their Q1 2021 earnings per share estimates for Carvana in a research note issued to investors on Wednesday, April 7th. William Blair analyst S. Zackfia now anticipates that the company will post earnings of ($0.58) per share for the quarter, down from their previous estimate of ($0.54). William Blair also issued estimates for Carvana’s Q2 2021 earnings at ($0.41) EPS, Q3 2021 earnings at ($0.41) EPS, FY2021 earnings at ($2.07) EPS and FY2022 earnings at ($1.29) EPS.
A number of other analysts have also weighed in on the stock. JMP Securities upped their target price on shares of Carvana from $250.00 to $290.00 and gave the stock a “market outperform” rating in a report on Thursday, March 4th. Robert W. Baird increased their price target on shares of Carvana from $285.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, February 16th. Raymond James initiated coverage on shares of Carvana in a report on Wednesday. They issued a “market perform” rating on the stock. Zacks Investment Research lowered shares of Carvana from a “hold” rating to a “sell” rating and set a $331.00 price target on the stock. in a report on Wednesday, March 3rd. Finally, Jefferies Financial Group increased their price target on shares of Carvana from $350.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, March 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have assigned a buy rating to the company. Carvana presently has an average rating of “Buy” and an average target price of $266.27.
Carvana stock opened at $271.00 on Friday. The firm’s 50 day simple moving average is $274.91 and its 200 day simple moving average is $250.99. The company has a current ratio of 3.18, a quick ratio of 1.42 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $46.68 billion, a PE ratio of -99.27 and a beta of 2.52. Carvana has a 1-year low of $58.04 and a 1-year high of $323.39.
Carvana (NYSE:CVNA) last posted its earnings results on Thursday, February 25th. The company reported ($0.41) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.07. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.59 billion. Carvana had a negative net margin of 3.06% and a negative return on equity of 43.19%.
In other Carvana news, COO Benjamin E. Huston sold 10,000 shares of the company’s stock in a transaction on Thursday, January 14th. The shares were sold at an average price of $298.28, for a total value of $2,982,800.00. Following the completion of the transaction, the chief operating officer now directly owns 33,662 shares in the company, valued at approximately $10,040,701.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas Taira sold 155 shares of the company’s stock in a transaction on Monday, April 5th. The stock was sold at an average price of $270.72, for a total transaction of $41,961.60. Following the completion of the transaction, the insider now owns 45,714 shares of the company’s stock, valued at $12,375,694.08. The disclosure for this sale can be found here. Insiders have sold a total of 764,820 shares of company stock valued at $214,240,731 in the last three months. 12.25% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. World Asset Management Inc raised its holdings in Carvana by 5.2% in the 4th quarter. World Asset Management Inc now owns 1,035 shares of the company’s stock worth $248,000 after purchasing an additional 51 shares in the last quarter. Elevated Capital Advisors LLC increased its stake in shares of Carvana by 1.3% in the 4th quarter. Elevated Capital Advisors LLC now owns 4,448 shares of the company’s stock worth $1,065,000 after acquiring an additional 58 shares in the last quarter. US Bancorp DE increased its stake in shares of Carvana by 17.6% in the 4th quarter. US Bancorp DE now owns 441 shares of the company’s stock worth $105,000 after acquiring an additional 66 shares in the last quarter. CNB Bank increased its stake in shares of Carvana by 42.5% in the 4th quarter. CNB Bank now owns 285 shares of the company’s stock worth $68,000 after acquiring an additional 85 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Carvana by 3.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,287 shares of the company’s stock worth $787,000 after acquiring an additional 104 shares in the last quarter. Institutional investors and hedge funds own 48.41% 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.
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