FY2024 Earnings Forecast for Carvana Issued By William Blair

Carvana Co. (NYSE:CVNA) – Analysts at William Blair boosted their FY2024 EPS estimates for Carvana in a report released on Thursday, October 31st. William Blair analyst S. Zackfia now forecasts that the company will post earnings of $0.89 per share for the year, up from their previous estimate of $0.23. The consensus estimate for Carvana’s current full-year earnings is $0.26 per share. William Blair also issued estimates for Carvana’s Q4 2024 earnings at $0.29 EPS and FY2025 earnings at $2.39 EPS.

A number of other brokerages also recently weighed in on CVNA. Stephens started coverage on shares of Carvana in a report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price target on the stock. Evercore ISI boosted their target price on shares of Carvana from $186.00 to $190.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. 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 research report on Thursday, August 1st. DA Davidson lifted their price target on shares of Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Bank of America increased their price objective on Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $208.88.

Carvana Stock Down 7.4 %

CVNA stock opened at $229.08 on Monday. The stock has a market cap of $47.41 billion, a P/E ratio of 22,930.93 and a beta of 3.37. The company has a current ratio of 3.25, a quick ratio of 2.02 and a debt-to-equity ratio of 18.99. The stock’s fifty day simple moving average is $174.33 and its two-hundred day simple moving average is $138.23. Carvana has a 1-year low of $27.75 and a 1-year high of $259.39.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Carvana’s quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.23 EPS.

Insider Buying and Selling

In other news, COO Benjamin E. Huston sold 3,043 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $240.00, for a total transaction of $730,320.00. Following the completion of the transaction, the chief operating officer now directly owns 218,686 shares in the company, valued at $52,484,640. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $131.19, for a total transaction of $9,839,250.00. Following the completion of the sale, the insider now directly owns 1,090,814 shares in the company, valued at $143,103,888.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Benjamin E. Huston sold 3,043 shares of the 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 completion of the transaction, the chief operating officer now directly owns 218,686 shares in the company, valued at $52,484,640. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,738,934 shares of company stock valued at $463,538,905. Company insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVNA. Vanguard Group Inc. boosted its holdings in shares of Carvana by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock worth $904,642,000 after purchasing an additional 266,972 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Carvana by 39.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after buying an additional 2,112,463 shares in the last quarter. Lingotto Investment Management LLP grew its position in Carvana by 1.4% during the second quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock valued at $486,143,000 after acquiring an additional 52,833 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Carvana by 12.2% during the second quarter. Renaissance Technologies LLC now owns 813,400 shares of the company’s stock worth $104,701,000 after acquiring an additional 88,500 shares in the last quarter. Finally, Driehaus Capital Management LLC lifted its holdings in shares of Carvana by 124.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after acquiring an additional 323,153 shares during the last quarter. 56.71% of the stock is currently 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.