William Blair Issues Negative Estimate for Carvana Earnings

Carvana Co. (NYSE:CVNA) – William Blair cut their Q3 2024 earnings per share (EPS) estimates for shares of Carvana in a report issued on Wednesday, October 23rd. William Blair analyst S. Zackfia now expects that the company will post earnings of $0.19 per share for the quarter, down from their previous estimate of $0.27. The consensus estimate for Carvana’s current full-year earnings is $0.29 per share. William Blair also issued estimates for Carvana’s Q4 2024 earnings at $0.07 EPS, FY2024 earnings at $0.23 EPS and FY2025 earnings at $1.92 EPS.

A number of other research firms have also weighed in on CVNA. Evercore ISI raised their target price on shares of Carvana from $178.00 to $182.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Needham & Company LLC raised their target price on shares of Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. JMP Securities reissued a “market outperform” rating and issued a $200.00 target price on shares of Carvana in a research note on Monday, September 9th. Citigroup raised their target price on shares of Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Finally, Wedbush lifted their price target on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Carvana currently has a consensus rating of “Hold” and a consensus target price of $182.29.

Carvana Trading Up 1.2 %

CVNA opened at $202.53 on Monday. 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’s 50 day simple moving average is $167.97 and its two-hundred day simple moving average is $133.56. Carvana has a 1-year low of $25.09 and a 1-year high of $203.72. The firm has a market capitalization of $41.03 billion, a price-to-earnings ratio of 88.83 and a beta of 3.44.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion.

Hedge Funds Weigh In On Carvana

A number of institutional investors and hedge funds have recently modified their holdings of the company. First Trust Direct Indexing L.P. grew its stake in shares of Carvana by 13.3% during the third quarter. First Trust Direct Indexing L.P. now owns 2,068 shares of the company’s stock worth $360,000 after purchasing an additional 243 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Carvana during the third quarter worth $259,000. Integrated Advisors Network LLC grew its stake in shares of Carvana by 89.2% during the third quarter. Integrated Advisors Network LLC now owns 53,004 shares of the company’s stock worth $9,229,000 after purchasing an additional 24,996 shares in the last quarter. Geometric Wealth Advisors acquired a new position in shares of Carvana during the third quarter worth $3,933,000. Finally, Traynor Capital Management Inc. acquired a new position in shares of Carvana during the third quarter worth $1,681,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insider Buying and Selling at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $133.41, for a total value of $10,005,750.00. Following the sale, the insider now owns 1,565,814 shares of the company’s stock, valued at $208,895,245.74. 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 through this link. In other Carvana news, insider Daniel J. Gill sold 41,163 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $200.11, for a total value of $8,237,127.93. Following the completion of the transaction, the insider now owns 283,287 shares in the company, valued at $56,688,561.57. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $133.41, for a total transaction of $10,005,750.00. Following the completion of the transaction, the insider now owns 1,565,814 shares of the company’s stock, valued at approximately $208,895,245.74. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,880,891 shares of company stock valued at $479,638,935 over the last quarter. 17.12% of the stock is owned by company insiders.

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.