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

Carvana (NYSE:CVNA) posted its quarterly earnings data on Wednesday. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27, Zacks reports.

Carvana Trading Down 1.4 %

Shares of CVNA stock traded down $3.85 during mid-day trading on Wednesday, reaching $280.68. The company’s stock had a trading volume of 7,250,846 shares, compared to its average volume of 3,690,996. The company’s 50 day simple moving average is $234.25 and its 200-day simple moving average is $206.38. Carvana has a 12-month low of $48.15 and a 12-month high of $292.84. 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 firm has a market capitalization of $58.28 billion, a PE ratio of 28,096.50 and a beta of 3.37.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Jefferies Financial Group lifted their price objective on Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Stephens reiterated an “overweight” rating and set a $300.00 price objective on shares of Carvana in a research report on Thursday, February 6th. Royal Bank of Canada upgraded Carvana from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $270.00 to $280.00 in a research report on Tuesday, January 7th. Piper Sandler upped their price objective on shares of Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Wedbush reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Carvana in a research note on Thursday, February 6th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $249.29.

Insider Activity

In related news, insider Paul W. Breaux sold 1,362 shares of Carvana stock in a transaction on Monday, February 10th. The shares were sold at an average price of $270.08, for a total transaction of $367,848.96. Following the sale, the insider now owns 153,240 shares of the company’s stock, valued at $41,387,059.20. The trade was a 0.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the sale, the chief financial officer now directly owns 189,097 shares in the company, valued at $37,961,222.75. This trade represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 173,629 shares of company stock valued at $44,833,799. Company insiders own 17.18% 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.