Carvana (NYSE:CVNA) Announces Earnings Results

Carvana (NYSE:CVNA) announced its earnings results on Wednesday. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.27, Zacks reports.

Carvana Price Performance

NYSE:CVNA opened at $280.68 on Thursday. Carvana has a 12-month low of $48.15 and a 12-month high of $292.84. The firm has a market cap of $58.28 billion, a price-to-earnings ratio of 28,096.50 and a beta of 3.37. The company’s 50-day moving average is $234.84 and its two-hundred day moving average is $206.90. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99.

Insider Activity

In other Carvana news, CFO Mark W. Jenkins sold 28,422 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total value of $8,209,694.70. Following the sale, the chief financial officer now directly owns 219,962 shares of the company’s stock, valued at approximately $63,536,023.70. This trade represents a 11.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel J. Gill sold 44,000 shares of Carvana stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $259.47, for a total value of $11,416,680.00. Following the completion of the sale, the insider now owns 191,225 shares of the company’s stock, valued at $49,617,150.75. This trade represents a 18.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 173,629 shares of company stock valued at $44,833,799 over the last 90 days. Insiders own 17.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CVNA shares. Stephens reaffirmed an “overweight” rating and set a $300.00 price target on shares of Carvana in a report on Thursday, February 6th. Evercore ISI lifted their target price on shares of Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a report on Tuesday, December 3rd. Wells Fargo & Company cut their price target on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, January 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price objective on shares of Carvana in a report on Monday, December 16th. Finally, Wedbush reissued a “neutral” rating and set a $250.00 target price on shares of Carvana in a research note on Thursday, February 6th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $250.47.

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.