FY2024 EPS Estimates for Carvana Increased by William Blair

Carvana Co. (NYSE:CVNA) – Analysts at William Blair increased their FY2024 earnings per share (EPS) estimates for Carvana in a report released on Thursday, October 31st. William Blair analyst S. Zackfia now forecasts that the company will earn $0.89 per share for the year, up from their prior forecast 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 commented on CVNA. Needham & Company LLC lifted their price target on shares of Carvana from $200.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Robert W. Baird lifted their target price on shares of Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Wells Fargo & Company increased their price target on Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Stephens began coverage on Carvana in a research report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their target price on Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $208.88.

Carvana Price Performance

CVNA stock opened at $226.08 on Monday. The stock’s 50 day moving average price is $174.33 and its 200 day moving average price is $138.72. The firm has a market cap of $46.78 billion, a P/E ratio of 22,630.63 and a beta of 3.37. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.02 and a current ratio of 3.25. Carvana has a 1 year low of $27.75 and a 1 year high of $259.39.

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

Institutional Investors Weigh In On Carvana

Several large investors have recently bought and sold shares of CVNA. Vanguard Group Inc. raised its position in Carvana by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock valued at $904,642,000 after buying an additional 266,972 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of 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 purchasing an additional 2,112,463 shares in the last quarter. Lingotto Investment Management LLP boosted its holdings in Carvana by 1.4% during the second quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock worth $486,143,000 after purchasing an additional 52,833 shares during the last quarter. Renaissance Technologies LLC grew its position in Carvana by 12.2% in the second quarter. Renaissance Technologies LLC now owns 813,400 shares of the company’s stock valued at $104,701,000 after purchasing an additional 88,500 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its position in Carvana by 124.9% in the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after purchasing an additional 323,153 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

Insider Transactions at Carvana

In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction dated 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 owns 1,090,814 shares in the company, valued at $143,103,888.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, COO Benjamin E. Huston sold 3,043 shares of Carvana stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $240.00, for a total value of $730,320.00. Following the completion of the sale, the chief operating officer now directly owns 218,686 shares in the company, valued at $52,484,640. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $131.19, for a total transaction of $9,839,250.00. Following the sale, the insider now directly owns 1,090,814 shares of the company’s stock, valued at approximately $143,103,888.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,663,934 shares of company stock valued at $453,200,905. Company 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.