FY2024 Earnings Estimate for Carvana Issued By William Blair

Carvana Co. (NYSE:CVNA) – William Blair reduced their FY2024 EPS estimates for shares of Carvana in a research report issued to clients and investors on Tuesday, February 11th. William Blair analyst S. Zackfia now anticipates that the company will post earnings per share of $0.86 for the year, down from their previous estimate of $0.89. The consensus estimate for Carvana’s current full-year earnings is $0.88 per share. William Blair also issued estimates for Carvana’s Q4 2024 earnings at $0.26 EPS, Q1 2025 earnings at $0.47 EPS, Q2 2025 earnings at $0.73 EPS, Q3 2025 earnings at $0.69 EPS, Q4 2025 earnings at $0.52 EPS and FY2025 earnings at $2.41 EPS.

Several other analysts have also recently weighed in on the stock. JMP Securities restated a “market outperform” rating and set a $320.00 price objective on shares of Carvana in a research report on Monday, December 16th. Needham & Company LLC reiterated a “buy” rating and issued a $330.00 target price on shares of Carvana in a research report on Tuesday, January 7th. Royal Bank of Canada upgraded shares of Carvana from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $270.00 to $280.00 in a research report on Tuesday, January 7th. Wedbush reiterated a “neutral” rating and issued a $250.00 target price on shares of Carvana in a research report on Thursday, February 6th. Finally, Citigroup upgraded shares of Carvana from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $195.00 to $277.00 in a research report on Wednesday, January 8th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $249.29.

Carvana Stock Performance

Carvana stock opened at $273.29 on Thursday. The firm’s fifty day moving average price is $231.76 and its 200-day moving average price is $202.23. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The stock has a market cap of $56.74 billion, a P/E ratio of 27,356.16 and a beta of 3.37. Carvana has a fifty-two week low of $48.15 and a fifty-two week high of $273.37.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quent Capital LLC bought a new position in shares of Carvana in the fourth quarter worth approximately $28,000. Global Retirement Partners LLC raised its holdings in shares of Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after purchasing an additional 78 shares during the last quarter. Rialto Wealth Management LLC purchased a new position in shares of Carvana during the fourth quarter valued at approximately $31,000. ORG Wealth Partners LLC purchased a new position in shares of Carvana during the fourth quarter valued at approximately $34,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Carvana during the third quarter valued at approximately $40,000. Institutional investors own 56.71% of the company’s stock.

Insider Buying and Selling

In related news, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the sale, the chief financial officer now owns 189,097 shares of the company’s stock, valued at $37,961,222.75. The trade was a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Daniel J. Gill sold 44,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the sale, the insider now directly owns 191,225 shares in the company, valued at $49,617,150.75. The trade was a 18.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 125,207 shares of company stock valued at $31,110,504 over the last quarter. Corporate insiders own 17.12% 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.