Carvana (NYSE:CVNA) Posts Earnings Results, Beats Expectations By $0.27 EPS

Carvana (NYSE:CVNA - Get Free Report) released its quarterly earnings results on Wednesday. The company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.27, Zacks reports. The firm had revenue of $3.55 billion during the quarter, compared to analysts' expectations of $3.32 billion. Carvana had a return on equity of 446.67% and a net margin of 1.54%.

Carvana Trading Down 9.9 %

Shares of NYSE:CVNA traded down $24.58 during midday trading on Friday, reaching $223.14. The company had a trading volume of 6,856,676 shares, compared to its average volume of 4,083,558. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. Carvana has a 1-year low of $49.38 and a 1-year high of $292.84. The firm has a market cap of $46.33 billion, a price-to-earnings ratio of 142.13 and a beta of 3.37. The company has a fifty day simple moving average of $234.35 and a two-hundred day simple moving average of $207.79.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. DA Davidson increased their target price on Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a research note on Thursday. JPMorgan Chase & Co. increased their target price on Carvana from $300.00 to $350.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Robert W. Baird increased their target price on Carvana from $200.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday. Needham & Company LLC increased their target price on Carvana from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Evercore ISI increased their target price on Carvana from $240.00 to $245.00 and gave the company an "in-line" rating in a research note on Tuesday, December 3rd. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $265.06.

Insider Activity at Carvana

In other Carvana news, insider Daniel J. Gill sold 44,000 shares of the firm'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 completion of the sale, the insider now directly owns 191,225 shares in the company, valued at approximately $49,617,150.75. This trade represents a 18.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 owns 219,962 shares of the company's stock, valued at $63,536,023.70. The trade was a 11.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 173,629 shares of company stock worth $44,833,799 in 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.