Carvana (NYSE:CVNA) Issues Quarterly Earnings Results

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

Carvana Stock Performance

CVNA traded down $24.58 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. Carvana has a 1 year low of $49.38 and a 1 year high of $292.84. The stock has a market capitalization of $46.33 billion, a PE ratio of 142.13 and a beta of 3.37. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The stock has a 50-day moving average price of $234.35 and a 200-day moving average price of $207.79.

Wall Street Analysts Forecast Growth

CVNA has been the subject of several research reports. JPMorgan Chase & Co. lifted their target price on shares of Carvana from $300.00 to $350.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Stephens restated an "overweight" rating and issued a $300.00 price target on shares of Carvana in a research note on Thursday, February 6th. William Blair restated an "outperform" rating on shares of Carvana in a research note on Thursday. Royal Bank of Canada boosted their price target on shares of Carvana from $280.00 to $320.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Needham & Company LLC lifted their price objective on shares of Carvana from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $265.06.

Insider Activity at Carvana

In other news, insider Daniel J. Gill sold 44,000 shares of the company's 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 directly owns 191,225 shares of the company's stock, valued at approximately $49,617,150.75. This represents a 18.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan S. Keeton sold 24,845 shares of the company's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the completion of the sale, the insider now directly owns 151,029 shares of the company's stock, valued at $37,440,089.10. The trade was a 14.13 % decrease in their ownership of the stock. 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 ninety days. Insiders own 17.12% of the company's stock.

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.