Carvana (NYSE:CVNA) Posts Earnings Results, Beats Expectations By $0.41 EPS

Carvana (NYSE:CVNA) posted its quarterly earnings results on Wednesday. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.41, Briefing.com reports. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. The business’s revenue was up 31.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 earnings per share.

Carvana Price Performance

Shares of CVNA traded down $18.23 during midday trading on Friday, reaching $229.08. The stock had a trading volume of 5,858,754 shares, compared to its average volume of 4,834,488. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02. The company has a market capitalization of $47.41 billion, a P/E ratio of 22,901.00 and a beta of 3.44. The firm’s 50 day moving average price is $174.33 and its 200-day moving average price is $137.76. Carvana has a 52 week low of $27.75 and a 52 week high of $259.39.

Insider Activity at Carvana

In other Carvana news, Director Ira J. Platt sold 12,178 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $130.33, for a total value of $1,587,158.74. Following the sale, the director now directly owns 43,229 shares in the company, valued at approximately $5,634,035.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Benjamin E. Huston sold 3,043 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $240.00, for a total transaction of $730,320.00. Following the sale, the chief operating officer now directly owns 218,686 shares of the company’s stock, valued at $52,484,640. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ira J. Platt sold 12,178 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $130.33, for a total value of $1,587,158.74. Following the completion of the transaction, the director now owns 43,229 shares of the company’s stock, valued at $5,634,035.57. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,738,934 shares of company stock valued at $463,538,905 over the last 90 days. 17.12% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CVNA. Royal Bank of Canada raised Carvana to a “sector perform” rating and upped their target price for the company from $166.00 to $170.00 in a report on Monday, August 19th. Wells Fargo & Company upped their price objective on Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Piper Sandler raised their target price on Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research note on Thursday. Jefferies Financial Group increased their price objective on shares of Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, BTIG Research boosted their target price on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $208.88.

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.