Carvana (CVNA) Set to Announce Quarterly Earnings on Wednesday

Carvana (NYSE:CVNA) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.22 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. On average, analysts expect Carvana to post $0 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Carvana Stock Performance

CVNA opened at $197.35 on Wednesday. Carvana has a 1-year low of $25.09 and a 1-year high of $198.09. The company has a market cap of $39.98 billion, a price-to-earnings ratio of 85.59 and a beta of 3.44. The company’s fifty day moving average price is $163.94 and its two-hundred day moving average price is $130.27. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20.

Analysts Set New Price Targets

Several brokerages recently weighed in on CVNA. Royal Bank of Canada raised shares of Carvana to a “sector perform” rating and raised their price target for the company from $166.00 to $170.00 in a research report on Monday, August 19th. Piper Sandler lifted their target price on Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. JMP Securities reissued a “market outperform” rating and issued a $200.00 price target on shares of Carvana in a research report on Monday, September 9th. Evercore ISI lifted their price objective on shares of Carvana from $178.00 to $182.00 and gave the stock an “in-line” rating in a report on Tuesday. Finally, DA Davidson upped their target price on shares of Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $177.88.

Insiders Place Their Bets

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $191.37, for a total value of $19,137,000.00. Following the sale, the insider now directly owns 37,858,131 shares in the company, valued at approximately $7,244,910,529.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Daniel J. Gill sold 30,000 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the sale, the insider now directly owns 328,329 shares in the company, valued at approximately $57,457,575. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $191.37, for a total value of $19,137,000.00. Following the transaction, the insider now directly owns 37,858,131 shares of the company’s stock, valued at $7,244,910,529.47. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,759,366 shares of company stock valued at $445,990,909 over the last ninety days. 17.12% of the stock is currently owned by insiders.

About Carvana

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.