Q3 2024 EPS Estimates for Carvana Co. (NYSE:CVNA) Increased by Analyst

Carvana Co. (NYSE:CVNA - Free Report) - Analysts at William Blair upped their Q3 2024 EPS estimates for Carvana in a research report issued to clients and investors on Monday, September 23rd. William Blair analyst S. Zackfia now anticipates that the company will post earnings per share of $0.27 for the quarter, up from their prior forecast of $0.22. The consensus estimate for Carvana's current full-year earnings is $0.27 per share. William Blair also issued estimates for Carvana's Q4 2024 earnings at $0.15 EPS, FY2024 earnings at $0.38 EPS and FY2025 earnings at $2.11 EPS.

CVNA has been the topic of a number of other reports. Piper Sandler boosted their price target on Carvana from $105.00 to $151.00 and gave the stock a "neutral" rating in a research report on Thursday, August 1st. Stephens assumed coverage on Carvana in a report on Thursday, September 12th. They set an "overweight" rating and a $190.00 price target for the company. JMP Securities reissued a "market outperform" rating and set a $200.00 price objective on shares of Carvana in a research report on Monday, September 9th. Evercore ISI upped their target price on shares of Carvana from $142.00 to $157.00 and gave the stock an "in-line" rating in a research note on Monday, September 16th. Finally, Needham & Company LLC raised their price target on shares of Carvana from $160.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $153.88.

Carvana Trading Down 1.7 %

Shares of NYSE:CVNA traded down $3.00 during trading on Wednesday, reaching $169.70. 2,352,604 shares of the company traded hands, compared to its average volume of 5,086,821. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. Carvana has a 52-week low of $25.09 and a 52-week high of $176.33. The business's fifty day moving average is $144.33 and its 200-day moving average is $116.89. The firm has a market capitalization of $35.12 billion, a price-to-earnings ratio of 75.75 and a beta of 3.43.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The company had revenue of $3.41 billion during the quarter, compared to analysts' expectations of $3.23 billion.

Institutional Investors Weigh In On Carvana

A number of institutional investors and hedge funds have recently bought and sold shares of CVNA. Vanguard Group Inc. grew its position in shares of Carvana by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company's stock worth $530,648,000 after purchasing an additional 655,603 shares in the last quarter. Rafferty Asset Management LLC raised its position in shares of Carvana by 38.6% during the fourth quarter. Rafferty Asset Management LLC now owns 43,792 shares of the company's stock valued at $2,318,000 after buying an additional 12,193 shares during the last quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV lifted its holdings in shares of Carvana by 17.6% in the fourth quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 500,000 shares of the company's stock worth $26,470,000 after buying an additional 75,000 shares in the last quarter. Tidal Investments LLC purchased a new position in shares of Carvana in the first quarter worth $1,783,000. Finally, US Bancorp DE boosted its position in shares of Carvana by 724.5% during the first quarter. US Bancorp DE now owns 5,549 shares of the company's stock worth $488,000 after acquiring an additional 4,876 shares during the last quarter. 56.71% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Ira J. Platt sold 664 shares of the firm's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $150.00, for a total value of $99,600.00. Following the transaction, the director now directly owns 30,227 shares of the company's stock, valued at approximately $4,534,050. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Paul W. Breaux sold 15,000 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $145.00, for a total value of $2,175,000.00. Following the completion of the sale, the insider now directly owns 114,124 shares of the company's stock, valued at $16,547,980. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ira J. Platt sold 664 shares of Carvana stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $150.00, for a total transaction of $99,600.00. Following the transaction, the director now owns 30,227 shares in the company, valued at approximately $4,534,050. The disclosure for this sale can be found here. Insiders sold a total of 2,491,866 shares of company stock valued at $349,710,934 in the last 90 days. Company 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.