Q3 2024 EPS Estimates for Carvana Co. (NYSE:CVNA) Boosted by Analyst

Carvana Co. (NYSE:CVNA) – Analysts at William Blair raised their Q3 2024 EPS estimates for Carvana in a research report issued on Thursday, August 1st. William Blair analyst S. Zackfia now expects that the company will post earnings of $0.19 per share for the quarter, up from their previous forecast of ($0.07). William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Carvana’s current full-year earnings is ($0.71) per share. William Blair also issued estimates for Carvana’s Q4 2024 earnings at $0.07 EPS, FY2024 earnings at $0.22 EPS and FY2025 earnings at $1.94 EPS.

A number of other research analysts have also weighed in on CVNA. DA Davidson upped their price objective on Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Royal Bank of Canada boosted their price objective on shares of Carvana from $90.00 to $130.00 and gave the stock a “sector perform” rating in a report on Thursday, May 2nd. TD Cowen increased their target price on shares of Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Wedbush reissued a “neutral” rating and set a $120.00 price target on shares of Carvana in a research note on Monday, July 29th. Finally, Needham & Company LLC raised their price objective on Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Carvana has an average rating of “Hold” and a consensus target price of $143.60.

Carvana Stock Performance

NYSE CVNA opened at $138.95 on Monday. The company has a current ratio of 3.11, a quick ratio of 1.62 and a debt-to-equity ratio of 47.20. The business’s 50 day moving average is $121.77 and its two-hundred day moving average is $94.19. The stock has a market capitalization of $28.15 billion, a price-to-earnings ratio of 60.94 and a beta of 3.37. Carvana has a 12-month low of $25.09 and a 12-month high of $154.00.

Insider Activity

In related news, major shareholder Ernest C. Garcia II sold 54,908 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $116.78, for a total value of $6,412,156.24. Following the sale, the insider now directly owns 2,677,500 shares of the company’s stock, valued at $312,678,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Ernest C. Garcia II sold 54,908 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $116.78, for a total transaction of $6,412,156.24. Following the completion of the sale, the insider now owns 2,677,500 shares of the company’s stock, valued at approximately $312,678,450. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $126.97, for a total transaction of $9,522,750.00. Following the transaction, the insider now directly owns 787,500 shares in the company, valued at $99,988,875. The disclosure for this sale can be found here. Insiders sold a total of 2,430,480 shares of company stock valued at $295,554,587 over the last 90 days. Insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Ridgewood Investments LLC acquired a new stake in shares of Carvana in the second quarter valued at about $32,000. Summit Securities Group LLC boosted its holdings in Carvana by 110.0% in the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 3,300 shares during the period. Fifth Third Bancorp grew its position in Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after acquiring an additional 275 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Carvana by 127.9% during the second quarter. GAMMA Investing LLC now owns 458 shares of the company’s stock valued at $59,000 after purchasing an additional 257 shares during the period. Finally, Hilltop National Bank purchased a new position in shares of Carvana in the second quarter valued at $68,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

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.